Vibenomics Collaborates with IRI to Measure Sales Lift from Audio Out-of-Home Advertising
Vibenomics, a location-based Audio Out-of-Home™ (AOOH) advertising and experience company, today announces its partnership with IRI®, a global leader in innovative solutions and services for consumer, retail and media companies. Together, Vibenomics and IRI join forces to measure the direct sales impact of exposure to Audio OOH advertising while offering advertisers exclusive access to SKU-level granularity for both pre-campaign feasibility and post-campaign analysis.
Being able to understand return on investment (ROI) from Audio OOH is critical for advertisers and marketers. Without these insights, marketers and CPG brands are less likely to make informed decisions. With this partnership, IRI will scale Vibenomics’ measurement capabilities and relay insights back to media buyers in a way that is meaningful and timely, showing accurate ROI from the Audio OOH solution so advertisers and marketers feel confident in how their media dollars are being spent.
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“At Vibenomics, we work very closely with retail media as we serve as a true partner. Part of that partnership means being able to prove ROI from their investments so they can guarantee they’re allocating their ad spend where it makes the most impact,” said Paul Brenner, CSO at Vibenomics. “Through our exclusive access to point-of-sale data, down to the SKU-level, from our grocery and convenience store customers, along with our partnership with IRI to analyze that data, Vibenomics has the ability to collaborate with advertisers to plan tests appropriately and analyze incremental sales lift and return-on-ad-spend (ROAS).”
Vibenomics and IRI recently performed four blind case studies that received encouraging results in the following categories: hair shampoo and conditioner, skin care, dry packaged dinner mixes and adult beverage. IRI utilized Market Lift studies to understand the impact that an Audio OOH campaign had on the sales of a new shampoo and conditioner line, skin cleansing product, dry packaged dinner mix and new adult beverage offering. After looking at the level of spend across a number of stores in a short period of time, the results showed a 34% sales lift in at least one of the categories after measuring the impact of Audio OOH.
“The Audio Out-of-Home medium stands out as it has the ability to shape the consumer experience while they are physically in the store. The product they hear about is immediately available for purchase, no surfing, no waiting,” said Jennifer Pelino, EVP Omni Channel Media at IRI. “That type of call-to-action in the exact physical location where a consumer can directly buy is an extraordinarily powerful marketing vehicle for brands to make an impact. This type of advertising to reach and connect with consumers is one of the many reasons we chose to partner with a company like Vibenomics.”
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Over several years, Vibenomics has developed and deployed its proprietary technology to help retailers improve their in-store audio experience. The company recently partnered with the leading global provider of software for digital-out-of-home (DOOH), Vistar Media and presented at the 2020 IAB NewFronts digital event, where the Vibenomics Advertising Market was introduced to some of the world’s largest brands. Vibenomics also teamed up with Kroger, the No.1 pure-play grocery retailer, to improve the customer buying experience in 2,300+ Kroger stores. In September, they expanded programmatic offerings with the launch of Open Exchange and Private Marketplace (PMP) deals via Vistar Media and in October, raised Series A2 funding.
