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Volta Brings the Power of Its Media Network to More Verticals With the Store Next Door™ Product
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Volta Inc. (NYSE: VLTA) launched its Store Next Door targeting product, allowing advertisers to focus on nearly 40 store categories adjacent to its EV charging stations. This innovative approach enhances the visibility of Volta's digital media screens, improving targeted advertising for brands in various sectors like healthcare and retail. According to Interim CEO Brandt Hastings, this initiative aligns with the trend of retailers increasing their digital ad spend. The programmatic offering is designed to ensure advertisers reach consumers likely to engage with their messaging.
Positive
Launch of the Store Next Door targeting product enhances advertising capabilities.
Advertisers can now target nearly 40 unique store categories, increasing potential ad revenue.
Aligns with the growing trend of digital advertising spend in retail, projected to reach 20% of budgets by 2023.
Negative
None.
Advertisers can now target high-propensity customers using nearly 40 store categories
SAN FRANCISCO--(BUSINESS WIRE)--
Volta Inc. (NYSE: VLTA), an industry-leading electric vehicle (“EV”) charging network powering vehicles and commerce, today launched its new Store Next Door™ place-based targeting offering. This product brings the power of the Volta Media™ Network to more verticals by enabling location targeting based on the stores adjacent to Volta’s EV charging stations and media screens.
Volta Brings the Power of Its Media Network to More Verticals With the Store Next Door™ Product (Graphic: Business Wire)
The Store Next Door offering expands the categories advertisers can use to target Volta’s highly visible, 55” digital media screens from just the main store to nearly 40 unique options, including healthcare centers, gyms, pet stores, and quick service restaurants. For example, an apparel brand can now target Volta media screens located one or two doors down from sporting goods stores that share the same parking lot as Volta’s charging stations. This new capability was made possible by Volta’s data-driven understanding of commercial real estate design, parking lot configurations, and shopper behavior.
“Advertisers are rapidly increasing spend with contextually-rich retail media networks. By 2023, retail media will command nearly 20 percent of digital advertising budgets,” said Brandt Hastings, Interim CEO and Chief Revenue Officer at Volta. “Store Next Door invites more advertisers to benefit from Volta’s at-store media network by capturing attention immediately before customers make a purchase, all while supporting the switch to carbon-free transportation.”
“The location of Volta's media screens next to store entrances is incredibly valuable to our clients,” said Christian Kull, EVP of Sales at digital out of home (DOOH) ad platform, Adomni. “With the Store Next Door targeting product, now even more advertisers can influence shoppers through the Volta Media Network.”
The Store Next Door product also improves upon the industry’s standard place-based targeting options, such as proximity and point of interest (POI) + radius methods. These existing approaches are designed around simple geographical dimensions and can result in advertisers reaching audiences that have no intention of visiting, nor easy access to, the desired destination. In comparison, Volta’s new offering ensures marketers only message people actually parked within the lot servicing their store — not down the street or across a highway.
"Success in OOH depends on messages reaching the right customers at the right places and at the right time," said Brittany Eckett, Director of Investments at Kinetic Worldwide, part of WPP. "At the end of the day, this all means that the right screens need to be targeted so we reach only likely customers."
The Store Next Door product is available programmatically and to clients that work directly with Volta.
About Volta
Volta Inc. (NYSE: VLTA) is an industry-leading electric vehicle (“EV”) charging network powering vehicles and commerce. Volta’s vision is to build EV charging networks that capitalize on and catalyze the shift from combustion-powered miles to electric miles by placing stations where consumers live, work, shop, and play. By leveraging a data-driven understanding of driver behavior to deliver EV charging solutions that fit seamlessly into people’s daily routines, Volta’s goal is to benefit consumers, brands, and real-estate locations while helping to build the infrastructure of the future. As part of Volta’s unique EV charging offering, its stations allow it to enhance its site hosts’ and strategic partners’ core commercial interests, creating a new means for them to benefit from the transformative shift to electric mobility. To learn more, visit www.voltacharging.com.
Forward-Looking Statements
This press release includes forward-looking statements, which are subject to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “feel,” “believes,” expects,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology and include, among other things, statements regarding Volta’s strategy and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: intense competition faced by Volta in the EV charging market and in its content activities; the possibility that Volta is not able to build on and develop strong relationships with real estate and retail partners to build out its charging network and content partners to expand its content sales activities; market conditions, including seasonality, that may impact the demand for EVs and EV charging stations or content on Volta’s digital displays; risks, cost overruns and delays associated with construction and installation of Volta’s charging stations; risks associated with any future expansion by Volta into additional international markets; cost increases, delays or new or increased taxation or other restrictions on the availability or cost of electricity; rapid technological change in the EV industry may require Volta to continue to develop new products and product innovations, which it may not be able to do successfully or without significant cost; the risk that Volta’s shift to including a pay-for-use charging business model and the requirement of mobile check-ins adversely impacts Volta’s ability to retain driver interest, content partners and site hosts; the EV market may not continue to grow as expected; and the ability to protect its intellectual property rights; and those factors discussed in Volta’s Registration Statement on Form S-1, under the heading “Risk Factors,” filed with the Securities and Exchange Commission (the “SEC”), as supplemented by Quarterly Reports on Form 10-Q, and other reports and documents Volta files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Volta undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
Store Next Door is a targeting product launched by Volta Inc. that allows advertisers to target nearly 40 store categories adjacent to its EV charging stations.
How does Store Next Door benefit advertisers?
It enables targeted advertising on Volta's media screens based on the proximity of stores, ensuring advertisers reach likely customers in the same lot.
What impact does Store Next Door have on digital advertising?
The product supports the trend where retail media is expected to command nearly 20% of digital advertising budgets by 2023.
What categories can advertisers target with Store Next Door?
Advertisers can target categories including healthcare centers, gyms, pet stores, and quick service restaurants.
Is Store Next Door available for all types of advertising?
Yes, the Store Next Door product is available programmatically and to clients working directly with Volta.
