Andrew Lipsman and Marlowe Nickell discuss the importance of in-store advertising, exploring its impact on brand engagement and the concept of mental and physical availability. They delve into the effectiveness of in-store advertising through customization benefits, contextual relevance, and the evolving landscape of in-store marketing strategies. The conversation also touches on the role of retail media networks in upfront TV negotiations and the recommended strategies for brands to leverage this emerging market.
In-store media boosts brand recognition and purchase intent through contextual relevance and proximity to purchase decisions.
Retail media networks offer brands opportunities to enhance mental and physical availability, advocating for strategic reallocation of advertising budgets.
Deep dives
Impact of Retail Media on Brand Reach and Consumer Engagement
Retail media networks are rapidly expanding, offering brands new avenues to reach consumers, particularly in the fast-evolving landscape of in-store advertising. The podcast highlights how retail media presents a unique opportunity for brands, especially CPG brands, to connect with consumers in a prime environment where they are receptive to advertising. With the decline of linear TV viewership and the increasing importance of proximity to the point of purchase, in-store media emerges as a key channel for enhancing both mental and physical availability of brands.
In-Store Media's Contribution to Mental and Physical Availability
The discussion delves into the significance of in-store media in establishing and reinforcing mental and physical availability for brands. In-store video advertising is highlighted as a powerful tool for creating short-term and long-term memory structures, aligning closely with the principles of brand visibility and accessibility outlined by Professor Byron Sharp's marketing framework. By leveraging contextual relevance and proximity to purchase decisions, in-store media effectively enhances both brand recognition and purchase intent.
Future Prospects and Strategic Shifts in Marketing Investments
The podcast underscores the evolving role of in-store media in the marketing mix, urging brands to embrace experimentation and strategic reallocations of advertising budgets. Emphasizing the benefits of in-store media in delivering reach, quality, and performance, the conversation advocates for a gradual transition towards allocating a portion of existing TV budgets to in-store advertising. As retail media networks evolve towards upper-funnel formats and collaborate with TV during upfront discussions, brands are encouraged to proactively explore the untapped potential of in-store media for driving brand growth and consumer engagement.
WARC's Anne Marie Kerwin talks with Andrew Lipsman, independent analyst and consultant at Media, Ads + Commerce, and Marlowe Nickell, founder and CEO of Grocery TV on the marketing effectiveness of in-store advertising. Discussing their recent WARC article “How Brands Grow” with In-Store Advertising" which made the case for including retail media in media mixes as a medium for reach and to increase mental and physical availability.
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