Vibenomics, a location-based audio out-of-home (OOH) advertising company, is collaborating with solution provider IRI. The goal of the partnership is to measure the direct sales impact of exposure to audio OOH ads while offering advertisers exclusive access to SKU-level granularity for both pre-campaign feasibility and post-campaign analysis.
IRI plans to scale Vibenomics’ measurement capabilities and relay insights back to media buyers in a meaningful and timely manner. Showing accurate ROI from the audio OOH solution will be key for advertisers and marketers to feel confident in their media spend.
Vibenomics and IRI recently performed four blind case studies that received encouraging results in the following categories:
hair shampoo and conditioner
dry packaged dinner mixes
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.
“At Vibenomics, we work very closely with retail media as we serve as a true partner,” said Paul Brenner, Vibenomics chief strategy officer, in a media release. “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. Through our exclusive access to POS 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.”
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 digital OOH software provider Vistar Media and in October raised Series A2 funding.
“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, omnichannel 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.”