Coupon Marketplace RetailMeNot Strikes Strategic Partnership With Placed
Ad tech companies that promise to deliver mobile shoppers to physical stores need to be able to show the metrics behind their boasts.
Digital coupon marketing provider RetailMeNot is the latest tech company to sign a deal with app-based, in-store analytics platform Placed in order to access insights on interactive ads regarding whether or not they’ve inspired visits to physical businesses. (Read the release.)
The alliance comes just over a month after Placed revealed that it now gleans store visitation data from over 300 million business locations.
Aside from Austin, TX-based RetailMeNot, Seattle-based Placed has more than 80 ad tech partners, following the addition of eight other digital players last month, including rich media ad company GumGum, tablet and mobile ad network PadSquad, wearable and text-based ad player Pinger, cross-platform programmatic platform RadiumOne, video marketplaceTremor Video, Interpublic Group-backed addressable TV ad company Samba TV, ad tech holding company Viant, and online-to-offline sales analyst 4INFO.
For several years, Placed CEO and founder David Shim has worked to make his company’s measurement offering, Placed Attribution, the “standard measurement tool” for marketers who seek to identify online-to-offline advertising success.
The Placed Attribution product works by collecting consumer location-based data using a GPS-enabled app that hundreds of thousands of U.S shoppers have downloaded onto their mobile devices. Users opt-in and agree to share their location information in return for deals ranging from discounts at shops to funds sent to a favorite charity, all through Placed’s app and its partners apps, which now include RetailMeNot’s mobile properties.
While this kind of panel-based metric has its limits, Placed’s partners note that aside from the company’s ever-increasing location coverage, the data is more transparent than most other programmatic solutions that rely on scraping analytics from websites or from other third parties.
Tracking Online Deals When They Go Offline
Five-year-old RetailMeNot, which in addition to its eponymous flagship, has a portfolio of eight deals sites across North America and Europe that manage 600,000 coupons and offers for 70,000 retailers. In explaining its reasons for working with Placed, RetailMeNot cited consumers’ cross-device media use when making a decision about what to buy and where to shop for it.
The company also noted that in-store shopping has become a much bigger part of RetailMeNot’s digital promotions. It pointed to a recent study showing that RetailMeNot’s mobile channel is one of the top five places consumers begin their shopping experience before visiting a store.
“This partnership signals to our retail partners that we value the importance of proving RetailMeNot’s ability to drive offline action, and we can do that through a well-known and accepted methodology conducted by Placed,” said Michael Magaro, RetailMeNot’s SVP for Corporate Development. “Retailers are realizing that their digital marketing spend generates a more significant return when they run promotions through RetailMeNot.”
In advance of making their strategic alliance public, Placed has produced a study showing just where RetailMeNot users have tended to make their purchases:
- Multi-Category/Department Store: 70 percent
- Home Goods: 185 percent
- Toys and Games: 105 percent
- Clothing: 110 percent
- Electronics: 80 percent
- Beauty: 130 percent
- Sports and Outdoor: 75 percent