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Media Intelligence : 2008 Intelligence
For information on your sector go to www.mediabiznet.com.au MOVE-ing along the Path to Purchase Mark Fishwick, MDat TorchMedia explains how they are integrating brands from couch, to carpark, to cash register. Can you tell me a bit about the background of TorchMedia? TorchMedia was formed in March 2007 from the merger of several leading players in shopper media, forming Australia’s largest network of retail out-of- home media. We are the fi rst national network that delivers advertisers an audience of shoppers when they are in a spending mindset. We do this across all major shopping occasions – mall, liquor, petro-convenience and pharmacy. TorchMedia states that they are a “newbreed of media company”. In what way? TorchMedia is unique in that it provides advertisers with shopper-facing media – in other words,we deliver an audience with their wallets fi rmly in hand and the intention to shop. Importantly, over 70% of purchase decisions are made at the point-of- purchase. TorchMedia gives brands an opportunity to talk to consumers as they make those decisions. You have blogged that retail was the ‘it’medium of 2007. Can you elaborate on this, and where does the ‘it’medium stand in 2008? Last year retail out-of-home media became a major force in OOH. The retail media industry was previously very fragmented, with lots of small players off ering varying levels of quality and service. With the formation of TorchMedia in March 2007, advertisers gained a national network of high quality media formats that covered very major shopping occasion. In conjunction with the launch of a new media brand we also invested heavily in research. This includes the largest grocery advertising research program undertaken in Australia by Synovate Aztec, to demonstrate to advertisers and media buyers that retail out-of-home media delivers real results for brands, measured in sales uplift. What sort of impact do you expect the new MOVE measurement capability to have on the industry as a whole? TorchMedia has been a long-term supporter and investor in the new audience measurement system. The launch of MOVE is incredibly important to OOH. Ifwe use overseas markets as an indicator, the new system will certainly drive greater investment and growOOH’s share of media expenditure. Accountability in today’s media landscape is crucial for advertiser acceptance and demonstrating to clients the value and eff ectiveness of the medium. MOVE is a signifi cant step forward in realising this goal for the industry. What innovations is TorchMedia marketing in the next 6-12 months? The biggest innovation we are bringing to retail out- of-home media this year is an important new media buying tool for our “in-store” off erings, Retail Media Intelligence. RMI will assist major brands in their redeployment of advertising expenditure away from traditional advertising into the rapidly emerging retail media environment. This year we are focused on helping advertisers to understand what we call the Path to Purchase – from the couch, to the car park, to the cash register. The “couch”is essentially the long-term branding zone of a campaign. The “car park” serves as a short- term brand recall zone. The “cash register”is the sales activation zone, and that is retail out-of-home media’s role in the mix. MEDIA Trends + Strategy 67