retail media insights - consumer insights for digital retail media

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 Insightsjohn@retailmediainsights.com

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