Cooler Screens’ In-Store Retail Media Platform to Guarantee iROAS
CHICAGO, November 15, 2023 (Newswire.com) - Cooler Screens, the leading provider of in-store retail media and merchandising technologies to retailers including Kroger, has announced a program to guarantee iROAS (incremental Return on Advertising Investment) for select brands, beginning immediately. With leaders at top advertisers, including the CFO of Procter & Gamble, calling for 100% ROI-driven approaches to marketing investment, iROAS is quickly becoming the new standard for campaign evaluation. But without digital media and measurement inside brick-and-mortar retailers, it has been challenging to apply in physical stores. Cooler Screens’ guaranteed iROAS program will be the first of its kind for in-store retail media.
The iROAS standard, which measures the incremental sales lift that a particular channel of an advertising campaign achieves, is a more accurate way to gauge performance of investments. “Until now, incrementality has been a real challenge to assess inside physical retailers' stores,” said Lindell Bennett, Cooler Screens’ Chief Revenue Officer. “With access to first-party sales and in-store viewable ad impression data, we’re able to understand precisely the incremental impact of Cooler Screens investments when brands add it to their media mix. We view this as a moment in time to make a bold and extremely competitive offer to guarantee incremental sales lift to brands, and to bill media upon achievement of iROAS benchmarks.”
Cooler Screens’ guaranteed iROAS program is timely given the pressure brand managers place on media buyers to deliver iROAS. In addition to P&G, many other CPGs are eyeing iROAS as the truest test of effectiveness, since it seeks to measure the contribution of individual channels on incremental sales growth. And it cannot come soon enough for in-store retail media networks (RMNs). According to a report from Insider Intelligence, barriers to adoption of retail media include questions about return on investment relative to other channels (58%), and more importantly, proving out the incrementality of the investment (37%).
Bennett continued: “We are making this guarantee because the combination of reach in the path to purchase, targeted messaging based on consumer intent and contextual modeling, and relevant content via high-impact creative units make an investment on Cooler Screens’ platform hard to beat—and we can prove it with iROAS.”
The program is initially available to select brands with sufficient scale to test and predict performance outcomes across the Cooler Screens network. Brands interested in partnering with Cooler Screens on initial tests should contact letstalk@coolerscreens.com for more information.
About Cooler Screens
Cooler Screens is the first-to-market technology company powering the transformational possibilities of digital in-store retail media and merchandising. The company’s AI-driven One Store One Platform allows retailers to create in-store digital experiences for shoppers, and for brands to reach them on dynamic smart screens that adapt to consumer behavior and data-driven context at the point of decision. For more information, please visit coolerscreens.com.
Source: Cooler Screens
