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The secrets of Retail Media in DOOH

What is Retail Media?

Initially, I knew Retail Media as the placement of advertisements on retailers’ websites or apps.

The first known retail media networks are Amazon, Alibaba or Mercado Libre in Latin America, to name a few. These networks are now joined by Walmart, Carrefour, Walgreens, CVS, Target and many more.

The evolution of technology and the digitalization of points of sale has meant that today the use of digital screens within points of sale is added to the previous concept and these are known as part of Retail Media.

These networks offer contextual relevance and alignment with KPIs, such as sales and ROAS, as well as measurement capabilities to demonstrate investment effectiveness. Additionally, McKinsey predicts that RMN (Retail Media Network) could account for $100 billion in advertising spending by 2026, while BCG (Boston Consulting Group) predicts that Retail Media will account for 25% of digital media spending.

What is the objective?

The main objective of brands is to reach the consumer and motivate the purchase at the moment when they are most receptive. That is, at the point of sale.

Is Retail Media only digital advertising?

As we said previously, Retail Media is born as the new wave of digital advertising, since it bases its effectiveness on interest or consumption data generated by e-commerce users or shopping apps.

Currently, the evolution of technology has allowed this digital advertising to be transferred to devices in physical stores, but without leaving aside the data analysis and the automated purchasing process proposed by programmatic.

What types of Retail Media DOOH exist?

Typically, the concept of RMDOOH (Retail Media Digital Out Of Home) is divided into two: in-store and at-store.

The IN-STORE concept refers to communication within the point of sale, seeking contextuality and motivating the purchase of certain products at the moment the consumer is at the point of sale.

While AT-STORE refers to communication outside the point of sale and what it seeks is to direct the consumer to a particular store. In this case, it is very common to use supports close to the stores and with specific directions to get to them.

What are the benefits of Retail Media DOOH?

1- More visibility to online digital campaigns.

Programmatic buying through an Omnichannel DSP allows you to reach people, not only on their mobile device but also within the point of sale.

Marketing campaigns using Retail Media can access more touch points throughout the consumer journey. For example, these campaigns reach consumers through their mobile devices as they drive to or walk to (or near) the store. With an at-store Retail Media DOOH strategy, you can impact these consumers in the real world on DOOH screens near stores or in the parking lot. Once in the store, on the digital screens and at the cash register at checkout.

2- Improve customer experience.

Adapting in-store communication to the customer experience generates the perception that the screens are helping the consumer and not that the brands are competing with each other. For example, it can be annoying for consumers to be constantly invaded by messages, banners or pop-ups on online websites. However, when ads are placed in the real world that appeal to contextual communication in the right place, these ads stop being a nuisance and help consumers find new products and services. Real-world ads tend to be remembered more than other formats.

3- Improve sales

There is no doubt that contextual communication at the point of sale generates immediate and measurable results.

Success stories

Consumers trust The Medium

 

 

 

 

 

 

 

A leading, global big-box retailer enlisted Vistar Media to help promote awareness, consideration, and app downloads of its new grocery pickup offering among busy, on-the-go moms. 

 

 

 

 

 

 

 

 

SUMMARY

Retail Media has transformed, and has proven to be a crucial part of the modern communication ecosystem. Its benefits, such as achieving greater visibility for brands, better customer experience and driving higher sales can significantly improve a brand’s performance at the point of sale.

This undoubtedly generates an excellent business opportunity for retailers, who through the acquisition of specialized technologies can access new advertising income with low implementation, maintenance and human management costs.

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