Advertising Audience Categories and Retail Inventory Management: Ask Gwen

Advertising Audience Categories and Retail Inventory Management: Ask Gwen
Dear Gwen, I noticed that Gravy Analytics has different types of advertising audience categories. Could you explain to me what the different audience categories mean? Could you also give me an example of how they might be used?


Best,
Victor

A: Dear Victor,

Yes, we do have a few different types of audiences to choose from! Our advertising audience categories are In-Market, Enthusiast, Lifestyle, B2B, and Mobile Device User.

In-Market audiences include consumers who are likely to now be considering a purchase in the category. Their behavior shows a greater degree of intent to purchase. For example, a potential car buyer would visit car dealerships to test drive a car.  These audiences are also useful for consumers who make frequent purchases. For instance, children’s clothing brands might choose to market to ‘New Parents/Expecting’ or our ‘In-Market Baby and Kids Products’ audiences.

Enthusiast audiences are not necessarily looking to buy right now. By using this advertising audience, you’ll be able to reach hobbyists, fans, and activists with shared interests. Music venues planning a socially-distant concert might want to advertise to ‘Rock Music Fans’, or brands selling fitness gear might want to reach ‘Gym Goers’ or ‘Yoga Enthusiasts.’

Lifestyle audiences use consumer demographic information, brand affinities, or shopping, dining, and other habits. Our lifestyle advertising audiences range from  ‘Business Travelers’ and ‘Healthy Eaters.’ These advertising audiences are ideal for companies looking to reach consumers who embrace a particular lifestyle. For example, a health-centric grocery store chain can use ‘Healthy Eaters’ to advertise the launch of their new organic food products.

B2B audiences are designed to reach industry and business buyers. As such, these advertising audiences include devices that have been observed at industry events or B2B conferences. We cover a variety  of industry events from agriculture to technology. While many events have become postponed, canceled, or gone completely virtual, this advertising audiences in this category are great for companies who specialize in products or software that professionals are using as they work from home.

Mobile Device User audiences reach iOS and Android device users. These advertising audiences might be helpful for brands who are advertising their latest mobile apps, or even new phone models.

When you get a chance, I recommend exploring our Audience Finder to see the full list of advertising audiences to choose from.

Gwen

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Dear Gwen, I work for a major retailer. This year, we are focusing more on inventory management. We are going “conservative” with our inventory, which means we are buying a lot less. I want to make sure what we are getting will drive foot traffic, but not break the bank. How can I use location intelligence to accomplish this?


Thanks,
Demi

A: Dear Demi,

It’s understandable that you might want to be a bit more cautious when it comes to inventory this year. The tried-and-true method of analyzing last year’s sales to determine your best-selling items won’t be very helpful in these difficult times. However, location intelligence can help to illuminate some of the mystery of what consumers are looking for.

Location intelligence can be used to determine where your customers go before and after they shop at your store. This provides insight into what you might want to keep in stock. Your inventory management software can be enhanced with foot traffic data. This information provides you with an overview of which regions or locations have the most demand, and helps you plan better for the future demand.

For more, I recommend checking out our blog post about how to keep your inventory conservative with location intelligence.

Gwen

ASK A QUESTION

Have additional questions for me about using location intelligence for advertising or retail inventory management? Email your questions to [email protected] with the subject line “Ask Gwen.” I’m looking forward to hearing from you.

Talk with a Gravy Analytics sales representative to learn how location intelligence can benefit your business.

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