Author: Jack Warren, Partnerships Manager at Eagle Eye Solutions.
Just as consumer habits have changed due to the impact of the coronavirus pandemic, so brand and merchant advertisers have had to reassess their promotional marketing strategies accordingly.
Lockdown restrictions of varying degrees have hit hospitality operators particularly hard, where food and beverage (F&B) venues, such as pubs and bars, have had to close or limit service and space.
It follows that, as Covid-19 safety measures affect consumer sentiment towards socialising, brand and merchant advertisers have been less willing to commit ad spend to driving people into venues.
This may compound F&B revenue losses. However, savvy brands and operators are now starting to offset the impact on traffic-driving promotions by realising the value of in-venue targeting instead.
Most occasions, Eagle Eye can be seen as a traffic-driving solution. But, in truth, AIR offers the ability to measure the effectiveness of any channel used to deliver an activation to a customer.
Marketing to an owned-customer database or targeting a social network audience can drive traffic to buy in a venue using a promotion, just as out-of-home signage can do the same above the line.
Traffic drivers versus in-venue targeting
Even performance channels owned by issuance partners, such as Blue Light Card or Vouchercloud, can amplify the reach or increase the accuracy of targeting the right offer to the right audience.
But the difference between traffic drivers and in-venue targeting is that the latter can yield much higher issuance-to-redemption rates. The promotion can be delivered much closer to the point of purchase.
This is why brands are redirecting their campaign focus to in-venue signage, paid sports TV screens or Wi-Fi delivery, where Eagle Eye and Wireless Social partner to enhance guest venue engagement.
They recognise that in-venue targeting is a great way to cross and upsell to customers. In pubs, for example, we see mainstream lager drinkers targeted with a higher margin world or craft beer.
Those with a preference for long drinks may trial higher margin spirit mixers, and spirit mixer drinkers may be converted to higher margin cocktails. They’re also more likely to reorder the new drink.
If an incentive can switch a party to higher margin orders, this can in turn boost spend and margins for the venue, as well as increased awareness and sales for the brand, with more cost-effective spend.
The cost to activate in-venue targeting is comparatively lower because there is no need to pay social media audience targeting fees or compensate performance marketing channels for their reach.
To find out how Eagle Eye can help drive more effective ad spend in-venue, contact us here.
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