retail media insights - consumer insights for digital retail media
DESCRIPTION
In developing digital retail media networks, the needs and wants of the consumer should be the primary consideration. Consumer insights are the foundation for successful digital retail media strategy and advertising sales.TRANSCRIPT
Consumer Insights for Digital Retail MediaThe Foundation for Network Strategy and Ad Sales
Bio
John MorganFounder and President
• 20-year career in media and marketing research
• Advertising, media, retail and technology expertise
• Former VP, Research & Shopper Insights at InStore Broadcasting
• Designed media planning systems at Nielsen IMS
• Media planner at Hal Riney & Partners
Presentation Overview
• Learn From Past Mistakes• Know Your Audience• The Ad Sales Challenge• Audience Measurement• Ad Sales Strategies
Learn From Past Mistakes
• The list of failures in this industry is long– Tesco TV– Meijer– McDonald’s– Albertsons– Subway– Many others
• In their rush to deploy networks, they all forgot the most important consideration…
Numero Uno
THECONSUMER
Know your Audience:Consumer Research
• Consumer research will help you understand– Audience demographics• Age, gender, income, education• Segmentation used for media planning
and buying
– Audience psychographics• Attitudes, opinions
– Audience behavior• Product, media consumption
Know your Audience:Strategic Decisions for Network Design
• Consumer insights drives network strategy– Purpose / objective (entertainment, loyalty,
information, advertising)– Content / subject matter– Content format (single- or multi-pane,
programming / advertising mix, etc.)– Content loop length– Frequency of play, refresh
Know your Audience:Relevance is Everything
• Only after leveraging consumer insights to truly understand your audience can you begin to think about advertising sales
• Unless consumers are actively engaging with and paying attention to your screens, any ads you place on them are worthless
Know your Audience:Relevance is Everything
How well do you know your audience?
The Ad Sales Challenge: Convincing Ad Planners
• Establishing a spot on the advertising media plan is difficult– Planners tend to use proven, “safe”
media– “Why should I divert ad dollars from
TV?”– New media typically relegated to
“experimental” budget– DOOH comprises just $2B of the over
$600B total ad/marketing spend
Ad SpendAll Marketing DOOH
The Ad Sales Challenge: Prove it to Me
• Planners demand third-party audience verification– Most digital retail media networks can’t afford
the big media research companies– Advertisers/agencies won’t spend big ad $
without third-party research
Audience Measurement: Valuating Your Network
• Don’t guess to impress– 3rd party data strengthens pitch to media planners,
investors and other business partners• Audience measurement will help guide ad sales
strategy– How many ad impressions does your network deliver?– How much should you charge advertisers?– What is the revenue potential of your network?– Does your network compare favorably to other media?
Audience Measurement: Sources
• Sources for audience measurement– Proprietary sources
• Traffic, visitors, transactions, members
– Syndicated research sources• National surveys• Industry research
– Primary research• Custom studies for your specific needs
– Third-party auditing required
Ad Sales Strategy:Audience Profile
• Tell a story about your audience– Who are they?– Where do they live?– What do they do for
fun?– What products do they
buy?– Why is this audience a
good fit for your client’s product?
Ad Sales Strategy:Audience Segmentation
• Segment your audience to better match advertiser targets– Demographic– Day of week/Time of day– Geographic– Behavioral– Frequent visitors
23% have young
children
41% shopmid-day
Ad Sales Strategy:Contextual Relevance
• Target advertisers that are relevant to your medium– The content and context
offer more relevance and “engagement” for some brands
– Use consumer insights to discover purchase behaviors that index high for your audience
John MorganFounder and President
Retail Media [email protected]
OUR SERVICES Audience Measurement and SegmentationAdvertising Sales and Marketing StrategyConsumer Insights for Content GuidanceAdvertising Campaign ROI Analysis
RESEARCH METHODSSyndicated Research SourcesMatched Panel AnalysesConsumer Intercept SurveysObservational Studies
CLIENTS WE SERVEAdvertisers and AgenciesMedia Network OperatorsRetailers and Venue OwnersInvestors
The Proof is in The Numbers
www.retailmediainsights.com