Print & Digital combined: Local Media Mix Modelling revolutionises retail marketing
Mönchengladbach, 12.07.2022 – The MEDIA Central Group, leading solution provider for data-driven 360° drive-to-store marketing, creates an innovative solution for location-based retail marketing with Local Media Mix Modelling.
Stationary retail in particular is facing enormous challenges: The consequences of the Corona pandemic, increasing inflation and the effects of the Ukraine crisis are causing rising prices and energy supply shortages. On the one hand, this is putting pressure on consumers, who are becoming increasingly more price-sensitive, and at the same time it is causing rising costs for advertisers, for example due to increased paper prices. In these transformative times, it is important to optimally use the available resources.
Another challenge: No two retailer locations are the same; each location has its own individual and local characteristics. Many framework conditions, such as competitive pressure, the digital affinity of the residents or even advertising refusal rates, vary considerably hyperlocally. The MEDIA Central Group, consisting of MEDIA Central, market leader in haptic offer communication, Offerista, Europe’s largest network for digital retail marketing, and Yagora, specialist in data analytics and data science, is creating an innovative solution for location-based retail marketing with its new product called Local Media Mix Modelling, or LM³ for short, and is making use of decades of expertise in the market.
Thus, for the first time, the advantages of classic print marketing are combined with the benefits of the digital world. In addition to the Offerista Group’s unique network of more than 1,400 independent partners, the MEDIA Central Group also incorporates all providers available on the market for digital offer communication and other channels such as radio or out-of-home into the geo-intelligent and target group-oriented recommendations for advertisers.
From its 360° solution approach, which considers print-based and digital offer communication synergetically, the market leader creates Local Media Mix Modelling, a product to optimise convergent offer communication: LM³ analyses the framework conditions of each individual retailer location through automated regional data modelling and thus determines the best possible use of print and digital marketing for retail companies. This is a continuous process that learns with each campaign and is constantly optimised. Based on data and geo-intelligence, the location-specific factors of each advertising area are incorporated into the analysis, resulting in the optimal print and digital usage – from a single source. With the integration of the data-based analysis and consulting service provider Yagora into the MEDIA Central Group, the campaign measurability is being professionalised from the product level to the conversion of the generated customer frequency in revenue per store.
Ingo Wienand, CEO of MEDIA Central Group, says:
“As a solution provider, the MEDIA Central Group creates the most innovative solution on the market with Local Media Mix Modelling, which enables our customers to optimise the local display of campaigns, while at the same time ensuring maximum flexibility in an increasingly dynamic market. Instead of thinking in silos, we are creating a completely new approach that is optimally aligned to the changing market conditions.”
Benjamin Thym, CEO of Offerista Group and CDO of MEDIA Central Group, adds:
“The goal we pursue with Local Media Mix Modelling is to continuously optimise the media use of our retail customers for each of their stores by analysing relevant influencing factors using our AdTech, to make it as efficient as possible and thus to accompany the retail companies in the transformation process that is currently taking place.”
About MEDIA Central
Strong brands for strong communication solutions: The MEDIA Central Group unites MEDIA Central, Offerista Group, the data science experts of Yagora GmbH and the foreign subsidiaries MEDIA Central Poland and MEDIA Central Czech Republic under one roof. The MEDIA Central Group supports its customers as a trusted partner and holistic solution provider for successful data-based 360° offer communication. The group’s solutions and services make a significant and measurable contribution to increasing sales in the retail sector. As the market leader in unaddressed household advertising, MEDIA Central manages over 15 billion brochures annually.
Offerista Group is Europe’s largest network for digital retail marketing and bundles over 1,400 platforms and reach partners in its own Native Network. The group is represented by over 500 employees in 12 locations across Europe and currently serves customers in 24 countries and from all industries.