Lantern Media, an out-of-home (OOH) media company aims to bring mall advertising to new heights with their digital LED advertising network which operates on artificial intelligence (AI). By gathering geographical and socioeconomic data, these screens enable malls to track daily footfall and user engagement, thus providing brands with data accountability. Lantern Media aims to help brands achieve their marketing objectives through more effective audience targeting/segmentation.
Started by co-founders Paul Leo Versley, Leon Liew, and Chester Ho in April 2018, Lantern Media’s LED screens utilise the latest in AI technology, enabling advertisers to track user engagement with their content. Thanks to each screen’s facial recognition feature, brands are able to accurately measure the number of authentic views their advertisements receive daily. Moreover, the screens identify each viewer’s, age and gender to determine if they fit the brand’s target audience.
Currently, Lantern Media has more than 100 fully operational screens in malls across the Klang Valley. Among them are Sunway Pyramid, Bangsar Shopping Centre, NU Sentral, and others. So far, Lantern Media has worked with both local brands as well as MNCs like Maybank, BMW, Boost eWallet, Netflix, etc., tracking and documenting data derived from user views to achieve more quantifiable results and effective engagement.
“With in-mall advertising becoming more and more popular, Lantern Media would like to capitalise on this growing trend by offering data accountability – clear reporting and analytics. This is to ensure that all impact is measurable, so that brands would have a better insight into their marketing outcomes. Although OOH advertising is currently being widely used, it is difficult to measure the impact. Our screens address this gap.” said Paul Leo Versley, Co-founder of Lantern Media.
Helping Brands Achieve Their Goals through Data Accountability
As outdoor media gains more popularity among advertisers, comparisons are inherently made between mall advertising and, another popular choice for OOH advertisements., billboards. One of the biggest challenges in OOH advertising is data accountability. In other words, the return of investment (ROI) as well as the actual reach. For example, billboards placed in locations such as highways might report a high number of cars passing by, but they often lack the necessary technology to measure the actual impact. Lantern Media’s data accountability feature aims to address this problem, thus providing advertisers with a reliable tracking method.
“The technology that we use has enabled us to share the data we collected with both our advertisers and mall partners who can then track the demographics of mall visitors, providing them with insights that can propel the former’s marketing planning while further monetising the latter’s facilities. Also, our screens do not collect personal data, so the public can be rest assured that their privacy is protected,” explains Paul Leo Versley.
The idea behind mall advertising is simple. According to market research Latimer Appleby, there is a 60% chance that browsing in malls can be converted into shopping, and the likelihood of conversion can be increased with special offers and seasonal messages when shoppers are already in a purchasing frame of mind. 90% of the time, advertising within the mall environment will give shoppers the nudge needed to choose a brand[1]. Furthermore, mall advertising provides great opportunities for non-retail brands to promote their products or services as the exposure would help increase the visibility and brand recall amongst its target audience.
Lantern
Media, a grant receiver from Cradle Fund under their CIP300 programme, plans to
add 100 more screens in the near future, further expanding its reach in the
country. Lantern Media aims to collaborate with more mall operators, brands, as
well as advertising agencies.
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