NinthDecimal Visit Metrics Promises Greater Ease For SMBs To Access Foot Traffic Attribution
“Visit Metrics was built in direct response to CMOs, heads of research, and agency account teams telling us what they need to take foot traffic measurement to the next level,” says NinthDecimal President David Staas.
The need to prove location-targeted advertising “works” by actually driving store visits has become an indispensable aspect of platform companies such as omnichannel marketing provider NinthDecimal, which is rolling out a complementary dashboard feature to its existing attribution tools.
With the addition of “Visit Metrics,” NinthDecimal is promising “vital insights into what is driving customer growth and customer acquisition.” The feature sits side-by-side with NinthDecimal’s Attribution Metrics within Location Conversion Index (LCI) to help CMOs make multimillion-dollar decisions on how to best determine their marketing budget.
“Visit Metrics was built in direct response to CMOs, heads of research, and agency account teams telling us what they need to take foot traffic measurement to the next level,” says David Staas, NinthDecimal’s president. “We’re excited to now be giving them faster data, solutions for smaller campaigns, and a unique understanding of what marketing spend is driving customer growth for their brand.”
Visit Metrics, which are delivered through a set of self-serve processes, presents store visit counts and visit rates by campaign. These metrics are intended to augment NinthDecimal’s Attribution Metrics, which calculate incremental store visits and incremental lift in visitation. For example, a campaign with high Visit Metrics but low Attribution Metrics would indicate a high volume of existing customers are visiting. However, the results also reveal that current marketing tactics are not optimized toward driving visits from new customers or more visits from existing or lapsed customers.
The release also includes a “90 percent decrease in campaign impression requirements,” which Staas says allows NinthDecimal to offer all of its measurement capabilities to small- and midsize campaigns, while still being able to support multibillion-impression campaigns by large enterprise clients.
GeoMarketing: How does Visit Metrics advance and differ from NinthDecimal’s Website-To-Store Attribution Metrics offering that was released last fall?
David Staas: Visit Metrics together with our existing Attribution Metrics provide marketers with a complete understanding of how their media spend is impacting real business growth.
For brands that are focused on getting customers through the doors, this becomes an incredibly powerful marketing asset. By providing data faster and on smaller campaigns, marketers now have an always-on solution for near-real time optimization on how to increase new customers and drive more visits from existing customers. By comparison, Website LCI links customer shopping behavior across two of the most critical assets for a retailer – their e-commerce site and their physical stores.
Is this new product meant to open up NinthDecimal’s attribution and other capabilities to SMBs? How so?
The recent release of Location Conversion Index (LCI) gives NinthDecimal the ability to support campaigns of all sizes. With the introduction of Visit Metrics, we are able to decrease the campaign impression requirements by 90 percent.
The reduction allows brands with small-to-midsize campaigns to take full advantage of all NinthDecimal’s measurement capabilities including an earlier view of which tactics are associated to increased visitation. This gives marketers the insight they need to make in-flight decisions that support their marketing goals no matter what size their campaign.
How would you say this attribution product differs from other platform companies attribution offerings? What’s the source of the data? Is it bid stream data from publishers that work with NinthDecimal? Data from check-ins? Panels?
Other attribution platforms only provide one set of KPIs, creating a partial, limited view of campaign performance. With this new release, we are offering both immediate visitation metrics for in-flight optimization and the in-depth analysis required to attribute causality to each tactic. It’s the first time that both incremental (Attribution Metrics) and indicative (Visit Metrics) KPIs have been brought together for advanced, real time marketing optimization.
For example, Visit Metrics calculate the fastest for a quick read and in-flight optimization. This allows marketers to answer important questions such as “are people who were exposed to advertising visiting more than people who were not exposed.” Attribution Metrics calculate for a deep understanding of the causal and incremental impact of marketing which reveals which visits occurred that would not have happened without advertising spend.
NinthDecimal uses a combination of persistent, non-bid steam, and highly curated bid-stream data. We receive data every month from hundreds of millions of devices, including smartphones, tablets, iPods, and others. This data is generated through our own SDK, our SDK partnerships, direct data licensing partnerships with publishers, and lastly exchanges. The vast majority of NinthDecimal’s data is non-bid-stream data.