CoolerX gives moment-based advertising a boost
June 20, 2024
CoolerX, the technology company powering the in-store retail media and merchandising revolution, has announced, ahead of The Cannes Lions International Festival of Creativity, it is bringing the power of its AI-intent engine to its ‘Own the Moment’ advertising format. With the addition of AI, CoolerX is enabling brands to better target and optimise for the moment, reaching in-store shoppers more effectively and driving incremental sales lift.
‘Own the Moment’, allows CPG brands to use CoolerX’s in-store platform to deliver targeted, timely, and relevant content to an audience of more than 17 million shoppers a month. CoolerX’s AI-powered intent engine enhances this capability by analysing consumer behaviour, contextual signals, and first-party retailer data to uncover granular insights into shoppers needs, product performance, and regional trends. Using this information, the platform identifies nuanced opportunities to connect with customers during seasonal events and precisely targets advertisers’ campaigns to the right stores, regions, and moments, ensuring maximum impact and optimising incremental return on advertising spend (iROAS).
“By leveraging data science and machine learning, we’re not only helping brands capitalise on major seasonal events, but also enabling them to identify and target more nuanced, high-value opportunities throughout the year,” said Artem Lavrinovich, Chief Data and Product Officer of CoolerX. “Our AI-powered intent engine might, for example, discover a key regional moment such as the start of ski season in a mountain town, when local stores frequently experience a surge in demand for hot beverages like coffee, tea and hot cocoa. With this insight, brands in these product categories can tailor their advertising strategy to the needs and preferences of customers in that area, running targeted campaigns that enhance their overall shopping experience and driving incremental sales – a triple-win for brands, retailers and customers alike.”
Through CoolerX’s AI-driven insights, advertisers deliver more targeted and contextually relevant advertising at the point of decision, increasing sales, brand loyalty, and customer engagement. In addition to highlighting major seasonal trends and ‘micro-moments’ at the store or regional level, the technology allows brands to optimise their campaign strategy in real-time based on where and when their advertising content delivers the greatest return.
As brands and agencies gather at the Cannes Lions International Festival of Creativity to celebrate the best in creative communications, CoolerX is taking the in-store retail media experience to new heights. It brings ecommerce targeting capabilities to the brick-and-mortar environment to amplify the effectiveness of exceptional creative in-store by targeting the right stores, regions, and moments. The AI-enabled ‘Own the Moment’ format is already being used by top brands to drive incremental sales growth. A leading adult beverage brand identified the Big Game’s pregame as a critical micro-moment and targeted shoppers as they stocked up for their celebrations. This resulted in a 21.6 per cent incremental sales lift and a 20% increase in category share.
CoolerX is rapidly gaining traction as the leading in-store digital retail media and merchandising technology solution with its AI software solution already in operation in top retailers nationwide, including Kroger, Walgreens, Giant Eagle’s GetGo, Chevron, and Western Union. The company was recognized as a 2023 Digiday Technology Award recipient for Best In-Store Technology.