Advertima Vision: the Venture Leader Technology converting physical grocery stores into a revenue-generating Retail Media channel

26.02.2024 10:30, Rita Longobardi

Meet Iman Nahvi, CEO of Advertima Vision. The Technology startup aims to revolutionize in-store shopper addressability and enhance customer omnichannel experiences across a smart, connected retail media landscape.

Name: Iman Nahvi
Location: Zurich
Nationality: Swiss
Education: BA University of Zurich in Banking & Finance and MA University of St.Gallen in Entrepreneurship
Job title: Co-Founder & CEO
Number of employees: 26
Money raised: CHF 7M
First touchpoint with Venturelab: Venture Leaders Technology 2024

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Can you tell us who your product or solution helps, and how?
In recent years, retailers have embraced becoming media owners by monetizing digital platforms with targeted advertising, using advanced technology and valuable data. While online channels have seen success, with most shoppers still preferring in-store experiences, there's a big opportunity for physical retail. Advertima Audience AI aids retailers in replicating online success in physical stores, boosting high-margin revenue through innovative technology for shopper targeting and measurement. This bridges the gap between online and in-store media, enhancing overall retail performance.

What market are you addressing and what is the potential of your startup in that market?
We're currently focused on FMCG/CPG retailers (fast-moving consumer goods/consumer packaged goods) with existing Retail Media operations. Global FMCG marketing spend, including in-store activities, is USD 70 billion, set to rise to USD 170 billion in five years. Retailers with strong omnichannel Retail Media strategies stand to benefit, prompting increased investment in in-store channels. Our expansion plan involves introducing new applications within FMCG and expanding into other retail sectors and industries, like shopping centers.

How and where did you come up with the idea for your startup?
In 2016, we partnered with Migros to develop scanless autonomous stores like AmazonGo. Over five years, as we explored this tech, clients adapted it for simpler uses like enhancing Digital Signage and DOOH (digital out-of-home) advertising. By 2021, it was clear autonomous stores would take time to adopt widely, so we shifted focus to Retail Media. Now, we provide advanced in-store Retail Media tech globally.

What do you expect from the Venture Leaders roadshow and how do you think it will help you achieve your vision?
The US market represents a significant opportunity for our growth. In January 2024, at the National Retail Federation (NRF) event in New York, we officially introduced our business to the US. This expansion requires further investment from backers who grasp the intricacies of the retail and Retail Media landscapes. Participating in the Venture Leaders program will be instrumental in connecting us with knowledgeable US investors in this sector. Additionally, it will facilitate deeper engagements with US retailers and support our efforts to recruit a suitable director for our operations on the US West Coast.
 
What are your team’s key achievements to date?
A landmark achievement for our team was the global debut of real-time, audience-based programmatic activation for the Digital Out-of-Home (DOOH) market and digital signage. While programmatic DOOH exists, it traditionally lacks the use of real-time audience data, a stark contrast to digital advertising. Typically, programmatic bidding and decision-making are conducted several seconds, sometimes even 30-40 seconds, before an advertisement is displayed. This results in advertisers paying for potential audience exposure without real-time verification, compounded by the absence of post-campaign analytics to confirm audience presence. Our innovation in audience-based programmatic activation addresses this gap, offering a groundbreaking feature across our networks that enhances advertising effectiveness and accountability. Additionally, another significant milestone was reached in mid-2023 when we successfully implemented our technology in our 1,000th store, marking a significant expansion of our presence and impact.

Is there a key principle or value that guides you as you build your company?
Our company prioritizes authentic cultural alignment over aspirational ideals. We value understanding and embracing the genuine culture that naturally emerges within our team, which serves as the foundation of our organization. This principle extends to our hiring process, focusing on individuals whose values align with our culture. Misalignment in this area can lead to costly mistakes, while the right hires contribute to a harmonious work environment and drive our success. Our approach diverges from conventional wisdom by emphasizing authenticity over popular examples, yet it's proven essential for sustainable growth and resilience in the business landscape.

What is the most important lesson you have learned as a founder?
The most crucial lesson I've learned as a founder is that timing is everything. The success of a product depends heavily on whether the market is ready for it. If you're too early or too late, even the best product might fail. As a founder, you need to deeply understand the market's current state and predict where it's going. It's also vital to know what stage your company is in. Are you still trying to fit your product to the market? Knowing your company's stage helps you make smart decisions. If you misjudge the timing or your company's stage, you're likely to fail. But if you get it right, you're setting yourself up for success.

What is your favorite productivity hack or tool and why?
My go-to method for staying productive is straightforward and traditional: planning. Every Monday morning, I dedicate time to map out my week, and each day starts with setting clear goals for the next 12 hours, often jotting these plans down on paper. It might seem old-school, especially for a tech startup CEO, but this simple approach works for me.

Tell us something people don't know about you.
Something people might find surprising about me is that I'm actually a late adopter of technology for personal use. I prefer to wait a few generations before upgrading my devices, ensuring the technology is well-developed and user-friendly. For instance, I didn't switch to a fully touch-screen phone until 2011, sticking with a BlackBerry and its physical keyboard until then.

Do you recommend a podcast or a book you want to share with us?
'Crossing the Chasm' is essentially the holy bible for us tech entrepreneurs. It's deeply influenced every aspect of how I make decisions. Truly a cornerstone for anyone in this field.