Two P2PI Member Companies Team Up to Improve In-Store Measurement
Vibenomics, a Mood Media Company and in-store digital advertising provider, has joined forces with fellow P2PI member company Pathformance, a marketing technology and measurement provider, to improve in-store attribution and measurement solutions for brands and marketers.
This collaboration combines immersive in-store audio advertising with analytics to create an enhanced shopping experience, according to a media release.
While Vibenomics works with retail media network marketers to provide individual measurement strategies, this new collaboration will support “more seamless solutions and consolidated outcomes.”
“At Vibenomics, we witness the influence of in-store media every day," Steve Triplett, vice president of sales at Vibenomics, said in the release. "The ability to reach active shoppers in brick-and-mortar locations is a game changer for omnichannel planning. By working with Pathformance, we’re able to provide the data-driven analytics our brand and agency partners need to optimize campaigns and maximize return on investment.”
"Pathformance was founded on the belief that brands deserve better measurement solutions,” Elizabeth Johnson, CEO of Pathformance, added. “Together with Vibenomics, we can empower brands with the data and insights they need to make informed decisions and drive success."
U.S. omnichannel retail media ad spend is on an upward trajectory, projected to increase to $59.98 billion in 2024 and to $129.93 billion in 2028, according to eMarketer. This rapid growth underscores the increasing importance of in-store retail media in modern marketing strategies. Yet, a significant challenge persists: inconsistent measurement methods and fragmented data sources.
[Also Read: The In-Store Retail Media 'Renaissance']
In support of the evolving in-store measurement movement, Vibenomics released a white paper, dubbed “In-Store Impressions Unlocked: To the Roof, Under the Roof, In the Zone,” in July, in partnership with industry leaders such as Quividi and Placer.ai.
Some takeaways from the guide include:
- Overcoming inconsistent measurement methods: The paper advocates for clear audibility and viewability metrics, providing a holistic understanding of audience size and delivering accurate, reliable data for retailers and advertisers.
- Identifying the value of an in-store impression: Accurate audience measurement is crucial for both retailers maximizing RMN value and advertisers optimizing in-store strategies. The paper breaks down the components of in-store impressions, empowering retailers to identify campaign reach, frequency and impact using a standardized approach.
- Delivering accurate in-store impressions: Vibenomics aligns with the Interactive Advertising Bureau's (IAB) efforts to establish a unified approach to in-store impression measurement. This standardized framework fosters greater confidence and investment in the retail media space.
- The digital in-store retail media opportunity: Digital displays, audio messaging, interactive kiosks, mobile integration and experiential marketing, offers engaging and influential opportunities to connect with consumers.
