Retail Stores Emerge as the Top Advertising Medium
Every consumer goods brand today looks to digital media as their go-to advertising channel. Trackable and easy to navigate and scale – this channel has quickly dominated the brand media options. However, the buzz around it also masks the fact that it’s cost per impression is high, and scaling the target audience with digital is increasingly expensive.
To find an alternative, we went back to the basics – the retail store – a place where:
• Customers self-categorize as target audience.
• They send clear signals about their shopping interests.
• Scale is automatic as daily traffic comes in.
• Audience is already in the buying mindset.
In fact, in-store physical experiences are more powerful, measurable, and memorable than any other form of media.
The only drawback? Measuring the reach and engagement of store ads is difficult unless the right problem-solving mindset is applied to data science.
THE MU SIGMA APPROACH
We employed first principles thinking to mold retail stores into the new brand media paradigm. An outcome-driven approach led us to:
• Devise metrics to measure store as a media channel
• Prove the store is a strong media channel with high reach & low CPM
By formulating an equation to calculate Gross Impressions for store ads, we successfully helped a shopper marketing agency demonstrate how store as a media drives higher customer conversion for low CPM.
Download the case study to know more.