Interpublic, AOL Think They Cannes Improve Retail Marketing, Unveil Plan During Opening Day Of Festival
The deal, which the companies boasted would "re-invent digital retail advertising," combines the research and development assets of Interpublic units with the ability of AOL to mobilize and activate its massive online user base.
The end goal is to develop new technologies that benefit both online consumers and marketers in the retail marketing process.
To kickstart the effort, Mediabrands and AOL said they would form a Retail Advisory Board, which would help guide the initiative. Other elements include an extensive benchmark analysis by Interpublic's Lab, which will analyze "the pre-shopping experience" via its proprietary "Neutral Shopping Matrix" methodology to understand what influences retail purchasing decisions before consumers buy. Specifically, the analysis will analyze how consumers utilize various media, including online to make price comparisons and research consumer promotion offers before purchasing a product.
The second phase of the initiative will be a live test with five leading retailers that will be conducted by Interpublic's hyperlocal marketing unit Geomentum during the second half of 2010.The test will evaluate how various new online tools and advertising formats impact actual in-store "sales lift."