Out-of-Home Power Play: Unleashing the Potential of Retail Media with DOOH
In the dynamic realm of advertising, where technology and data converge, the online retail media landscape is poised to hit a staggering $200 billion by 2027. However, the true potential of retail media extends far beyond the digital frontier. In this exploration, we delve into the multifaceted world of offline retail media, unraveling its transformative power through the lens of Digital Out-of-Home (DOOH) advertising.
The Modern Approach to Retail Media
For decades, physical retail media has been a cornerstone of commercial strategy for supermarkets, evolving from an untargeted, linear medium into a precision tool. With advancements in data science and technology, store media now offers real-time optimization and closed-loop measurement capabilities. This nuanced channel serves various objectives, including reaching customers poised for purchase, prompting impulse buys, and educating consumers about products.
Positioning Your Brand for Influence
One of the most compelling use cases for retail media lies in its ability to position brands at the final opportunity to influence purchase decisions. Supermarket advertising, particularly through JCDecaux UK, allows brands to engage shoppers at crucial moments before purchase. The use of premium digital screens outside stores provides maximum visibility, enabling brands to convey up-to-date messaging and content effectively.
Beyond Shopper Audiences: Tapping into Versatility
Retail media goes beyond grocery shoppers, offering advertisers access to diverse audiences. Through data partnerships with Experian, YouGov, AdSquare, and Local Retail Spend, JCDecaux UK enables non-FMCG advertisers to leverage DOOH and tap into both shopper and incremental audiences. The flexibility of digital screens allows tailored campaign messages based on specific locations, time of day, or promotions.
A Multichannel Media Approach
Contrary to the tendency to view retail media as a solely digital opportunity, a successful strategy embraces both physical and digital channels. Multi-channel approaches not only deliver superior results for FMCG advertisers but also enhance messaging for any advertiser. Research indicates that customers exposed to four different channels convert 3.8 times more than those exposed to just one channel, making supermarkets a prime environment for effective advertising.
Programmatic: Frictionless Access to Inventory
The integration of programmatic capabilities in DOOH allows seamless access to inventory through demand-side platforms (DSPs). This option is particularly advantageous for brands invested in online retail media, providing a single, self-serve access point for all channels. Programmatic buying ensures streamlined planning and booking of multi-channel campaigns while protecting against issues like fragmented reporting.
The Untapped Opportunity
Mastering a holistic approach to retail media, encompassing both online and offline channels, unveils an untapped opportunity for brands. The closed loop linking media exposure and purchasing behaviors simplifies Return on Advertising Spend (ROAS) demonstration, setting retail media apart as a powerful and measurable marketing tool.
In conclusion, as we navigate the evolving landscape of retail media, the synergy between online and offline channels, especially with the transformative capabilities of DOOH, emerges as a strategic imperative for brands seeking to maximize their impact and drive incremental performance.
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