Updated, September 14, 2023
In-store shoppers are a crucial audience for grocery and FMCG advertisers.
However, traditional in-store digital signage has been unable to compete with online Retail Media, thanks to the latter’s real-time targeting and measurement capabilities.
Traditional digital signage cannot offer real-time audience segmentation, shopper targeting, or campaign measurement to the level advertisers are used to with online digital advertising.
While advertisers want to reach the 80% of grocery shoppers who prefer physical stores, they will not do so at the cost of targeted communications and verifiable performance metrics.
As a result, In-store Retail Media tends to get left out of mainstream Retail Media plans.
Smart Digital Signage Can Transform In-store Retail Media Performance
To capture Retail Media budgets, set to exceed $230 billion by 2027, retailers need to upgrade to smart digital signage. They need in-store media solutions to digitize and monetize in-store audiences, just like online audiences.
Fortunately, advanced In-store Retail Media technology is changing that.
Solutions like Advertima Audience AI are pioneering never-before in-store digitization, targeting, and measurement capabilities, which turn traditional digital signage into smart digital signage and bring In-store Retail Media performance at par with online Retail Media.
Let’s find out how.
Real-time Audience Segmentation for Smarter Targeting
With the average person exposed to between 4,000 and 10,000 ads every day, depending on where they live, relevance is valued by both advertisers and shoppers.
Traditional in-store digital signage, however, can only run looped playouts based on the time, location, or other ‘non-audience centric’ parameters. It also doesn’t gather insights about who watched the ad and whether they found it relevant.
On the other hand, smart digital signage powered by Advertima Audience AI plays ad creatives targeted to addressable audiences in real-time based on demographics and interests.
It’s real-time audience segmentation for smarter targeting.
We call it real-time segmentation targeting.
Here’s how it works.
The system senses the shopper or shoppers in front of the smart digital screen. Within milliseconds, it digitizes them based on anonymous visual and contextual attributes, matches them to pre-defined seller segments, and shows the right ad on the smart screen based on real-time segmentation targeting.
How Real-time Segmentation Targeting Impacts In-store Media Performance
- Better value proposition leads to higher CPMs: Retailers can shift away from ‘location-based’ to ‘audience-centric’ media offerings – something advertisers are ready to pay a premium for.
- More efficient use of ad inventory: Because each playout is targeted in real-time (not loop-based), advertising campaigns reach more monetizable audiences per playout for a defined target group. Reaching more targeted and relevant shoppers within the same period of time increases each playout’s value and justifies a premium charge.
- More sellable ad inventory: Because campaign goals are reached faster with fewer targeted playouts, retailers can sell more campaigns on the same inventory and increase profits from the same number of screens.
- Better ROAS: For advertisers, Smart Targeting means more effective ad spending, increased ROAS, and less wastage as targeted ads are only delivered to verified and relevant audiences who match the pre-defined seller segment criteria.
Performance Metrics and Audience Insights
It is no longer enough for media owners to provide playback logs that prove an ad was shown (where, when, and how many times).
Advertisers today want to know why the ad was shown in the first place, whom it reached, and how it performed compared to other creatives, segments, or media networks.
With Advertima Audience AI, retailers can capture real-time, verifiable metrics to help advertisers track campaigns and optimize performance.
How Real-time Metrics Impact In-store Retail Media Performance
Traditional in-store media only measures indicative post-campaign performance. Advertima’s detailed real-time reports help track and measure impact for optimal budget utilization while the campaign is still ongoing.
Campaign Analytics
Media planners and advertisers can leverage campaign analytics to determine the ROAS and overall campaign performance. Advertima measures verified reach in advertiser-defined target segments and measures campaign performance against goals – a crucial differentiator for advertisers seeking true in-store performance media. Campaign analytics based on verified measurements and aggregated data reveal what worked best.
Creative Analytics
Content and creative teams can measure engagement and see how different audience segments and target groups engage with different creatives. These analytics are also used for A/B Testing.
Predictive Analytics
Advertima is able to reliably predict future audience reach based on historical campaign data to help optimize media planning and buying efficiency.
Network Analytics
Retailers, who are the media owners, need to understand the full potential of their network, not just at a macro level of the whole network but also drilled down to regional, store, and screen levels, along with nuances such as location, timing, and screen placement. This helps with product pricing and identifying premium inventory.
Ready to Transform In-store Media Performance with Audience Segmentation?
Upgrading traditional in-store signage to smart digital signage powered by Advertima’s Audience AI gives retailers on-time and on-target in-store campaign delivery.
Insights and analytics based on verifiable campaign metrics reveal real-time reach and impact across advertiser-defined audience segments. Media planners and buyers can optimize campaigns on the right parameters, plan budgets, and improve ROAS.
Ultimately, advertisers can confidently expand In-store Retail Media budgets with targeted, measurable in-store campaigns like never before.
Download the free White Paper.
Get additional insights and learn more about how retailers can transform in-store shoppers into monetizable media audiences and unlock their full potential right now.
