Retail Media Insights - Digital Retail Media Measurement & Metrics

Digital Retail MediaMeasurement & Metrics

Bio
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
John Morgan
Founder and President

Presentation Overview
Digital Retail Media Defined
Value Propositions for Consumers, Retailers and Advertisers
Digital Retail Media Measurement
Measuring Advertising Campaign Effectiveness

We have learned new ways to interact with media and brands

What is Digital Retail Media?

Digital Retail Media Defined
A communications network that uses digital technology to deliver audio, video or audiovisual content to an audience in a retail environment.

Digital Retail Media Venues
If you come, they will build it
Bars & Restaurants
Specialty Retail
Hair & Nail Salons
Health Clubs
Medical & Dental Offices
Transit
Veterinarian
Grocery & Convenience Stores

Digital Retail Media is not TV
Differences from traditional media
Transient audience
Not the primary focus of attention
Differences from static OOH media
Video and/or audio
Time component

What are the Value Propositions?
Advertisers
Retailers
Consumers

Value Proposition for Consumers
Entertain, educate and/or inform
Navigation
Money-saving offers
Time-saving offers
The consumer must come first—know your audience!

Value Proposition for Retailers
Improve the customer experience
Increase overall sales
Support and enhance loyalty programs
Generate advertising income
Learn more about your customers

Value Proposition for Agencies & Advertisers
Relevant content, context
Receptive audience
At or near the point-of-purchase
Quantifiable measures of advertising ROI

Digital Retail Media Measurement

Measuring Advertising Effectiveness
“Half the money I spend on advertising is wasted; the trouble is I don't know which half.”
Late-1800s
John Wanamaker
Department store owner
Considered the “father of modern advertising”

“Improve the practice of advertising, marketing and media research in pursuit of more effective marketing and advertising communications.”
Co-founded in 1936 by the ANA and AAAA

ARF 360 Model

ARF 360 Model: Audience Count and Attention
1: Vehicle Access
=
Venue Traffic
2: Opportunities-to-See
=
Network Traffic & Dwell
3: Eyes-On / Ears-On
=
Network Audience

ARF 360 Model: Measuring Consumer Thoughts and Intentions
Surveys
Neuromarketing
4: Ad Attentiveness
=
Relevance / Ad Recall
5: Ad Processing
=
Message Recall
6: Impact
=
Purchase Intent

ARF 360 Model: Measuring Consumer Behavior
QR code scans
Interactions
Sales
7: Advertising Response
=
Brand Engagement
8: Brand Access
=
Brand Distribution
9: Sales Response
=
Sales

ARF 360 Model: Measuring ROI
10: Loyalty Response / Lifetime Value
=
Campaign ROI
Loyal customers
Brand advocates
Positive return on advertising investment

Measuring Audience Count and Attention
In-house
Traffic, visitors, transactions, members
Syndicated
Simmons, MRI, Scarborough
Custom
Consumer surveys, cameras, observation
Third-party auditing required

“The biggest cost of advertising is ads that do not work.”
Present day
Erwin Ephron
Advertising Research Federation Lifetime Achievement Award recipient
Market Research Council “Hall of Fame” member

Measuring Consumer Thoughts and Intentions
Recall and Purchase Intent
Surveys
Relatively inexpensive
Recruitment can be difficult
Neuromarketing
Great for lab work
Expensive, impractical
Only a proxy for desired behavior

Measuring Consumer Behavior: QR Code Scans
Incorporate unique QR code for each campaign, location
Coupon, discount or deal
Sweepstakes entry
Additional product information
Product demonstration video
Still need to know potential audience to calculate response rate & effectiveness

Measuring Consumer Behavior:QR Codes for Savings
Scan me!
DSE Q1 2011 Business Barometer
Discount Code
DSF Members receive a $50 discount off of the $145 DSE Q1 2011 Business Barometer from the Digital Signage Expo.

Measuring Consumer Behavior: Interactions
For screens that allow interactivity
# of interactions
Stickiness (time spent interacting)
Data capture (consumer input)
Interactions relative to network traffic
Need to know audience potential to calculate response rate & effectiveness

Measuring Consumer Behavior:Sales Lift
Retailer
Items per transaction
Dollars per transaction
Category sales lift
Repeat visits
Advertiser
Item sales lift
Brand sales lift
Household penetration
Trial / repeat

Measuring Advertising ROI:Experimental Designs
Robust test design is critical to valid measurement of changes in consumer behavior
Matched Panel
Latin Square
Did advertisement X truly cause behavior Y?

Presentation Summary
Digital Retail Media networks that focus on providing value to consumers also benefit retailers and advertisers
Digital Retail Media networks require unique methods of audience measurement
Digital Retail Media campaigns can be optimized through testing and measurement

The Proof is in The Numbers
Our Services
Audience Measurement and SegmentationAdvertising Sales and Marketing StrategyConsumer Insights for Content GuidanceAdvertising Campaign ROI Analysis
Research Methods
Syndicated Research Sources
Matched Panel AnalysesConsumer Intercept SurveysObservational Studies
Clients we Serve
Advertisers and AgenciesMedia Network OperatorsRetailers and Venue OwnersInvestors
John Morgan
Founder and President
Retail Media Insights
john@retailmediainsights.com
www.retailmediainsights.com

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Retail Media Insights - Digital Retail Media Measurement & Metrics

by retailmediainsights on May 18, 2011

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Retail Media Insights - Digital Retail Media Measurement & Metrics — Presentation Transcript