Vibenomics, a Mood Media Company and leading in-store digital advertising provider, announced it is joining forces with Pathformance, a data-driven measurement solutions provider for brands and marketers. This collaboration presents a major benefit to brands looking to prove results from retail media investments, combining immersive in-store audio advertising with powerful analytics to create a revolutionary shopping experience. While Vibenomics works with its retail media network customers 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,” said Steve Triplett, VP of Sales at Vibenomics. “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.”
The need for this relationship is clear when considering the current state of retail media. Retail media spending is on an upward trajectory, projected to reach a staggering $59.98 billion in 2024. This rapid growth underscores the increasing importance of in-store media in modern marketing strategies. Yet, a significant challenge persists: inconsistent measurement methods and fragmented data sources.
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“Pathformance was founded on the belief that brands deserve better measurement solutions,” said Elizabeth Johnson, CEO of Pathformance. “Together with Vibenomics, we can empower brands with the data and insights they need to make informed decisions and drive success.”
In support of the evolving in-store measurement movement, Vibenomics released its white paper, ‘In-Store Impressions Unlocked: To the Roof, Under the Roof, In the Zone,’ in July 2024. This comprehensive guide tackles the challenge of inconsistent measurement head-on, offering a roadmap for brands and retailers to navigate in-store audiences and gain valuable insights. Vibenomics partnered with industry leaders like Quividi and Placer.ai to develop this resource.
Key takeaways 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 paramount 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.
In the ever-evolving world of retail media, innovative advertising technologies and reliable data sources will be the cornerstones of success. Vibenomics’ work with Pathformance paves the way for a more standardized, transparent and practical approach to in-store media.
SOURCE: PRNewswire