Before the rise of digital advertising, in-store retail media networks were a popular way for brands to advertise their products in physical retail environments. With the loss of third-party cookies, the realization that omnichannel shopping is here to stay, and the evolution of AdTech, in-store retail media networks are making a big comeback. Here are some examples of commonly used retail media network platforms:
Interactive displays
Interactive displays and touchscreens placed strategically can enable customers to explore and interact with multiple products in one location. Additionally they engage shoppers and create a more immersive experience, helping to increase dwell time and improve brand recall.
Digital signage
Retailers can use in-store digital signage to display targeted ads based on a customers’ location within the store as well as their past purchases and behavior.
Beacons
Beacons are bluetooth devices strategically placed that transmit notifications to users’ smart phones when triggered by users’ proximity. They can collect data about customers’ location and behavior within the store.
Mobile apps
Many retailers have mobile apps that customers can use to browse products, make purchases, and access loyalty programs. These apps can also collect data about customers’ locations, browsing behavior, and preferences.
Geofencing
Geofencing uses RFID and sets a perimeter or “fence” around a location, by doing so, retailers can then measure and track the amount of foot traffic that enters and leaves a location. They can also target those within the perimeter for advertising purposes. Geofencing works well for larger areas.
In-store radio
In-store radio is a form of audio advertising that can be heard throughout the store. Brands can create audio ads or sponsor specific segments of the in-store radio programming to promote their products.
Shelf talkers
Shelf talkers are small signs that attach to shelves or products to draw attention to specific items. Brands can create eye-catching designs and messages to help their products stand out from the competition.
Floor decals
Floor decals are stickers that are placed on the floor in high-traffic areas of the store to promote products or special offers. They can be particularly effective in guiding shoppers towards specific products or promotions.
Point-of-sale displays
These product displays are placed near the checkout counter to encourage impulse purchases. Brands can create custom displays or packaging to help their products stand out.
Product sampling
Product sampling is a promotional strategy that involves giving out free samples of a product to customers in-store. This can be a particularly effective way to introduce new products to shoppers and encourage trial.
Targeted email advertisements
While it may seem counterintuitive to list an email campaign as a form of in-store advertising, the reality is that email marketing drives in-store traffic, and retail media networks can provide access to customer data that in turn can empower stronger email campaigns.
How to optimize in-store retail media networks
When assessing how, where, and what retail media networks to implement in your stores, it’s important to ensure you have optimal data attribution methodologies in place. Be sure to collect and analyze data on shopper behavior, purchase history, and engagement with in-store media. This can help you identify which placements are most effective, which products are best suited for different placements, and which promotions generate the most sales.
Use data and technology to target advertising to specific demographics or shopper segments in order to increase the relevance of the ads and improve their effectiveness. Data can also help personalize experiences for shoppers. For example, using purchase history can allow retailers to offer personalized recommendations or promotions.
In addition, partnering with brands to create co-branded content or promotions can help increase the reach and effectiveness of your retail media network and has the added benefit of strengthening brand-to-retailer relationships. Employees are also a huge asset in retail media network success. Training employees to engage with shoppers and promote in-store media can increase retail media network reach and improve the overall shopping experience.
For a deeper dive into retail media networks, check out these resources:
Retail media networks and the MarketDial solution
The growing appeal of retail media networks
How A/B testing supports in-store retail media networks
