Placed Adds In-Store Attribution Extension, Promising ‘Complete’ Online-To-Offline ROI
Location marketplace xAd is Placed Revenue's official launch partner.
The agencies, publishers, and brands who use Placed’s various tools for measuring whether or not their digital ads led to an actual sale to a brick-and-mortar business now have an added offering at their disposal: Placed Revenue.
Placed Revenue is able to determine whether a mobile user saw an ad. From there, the Seattle startup records data from offline purchases and then matches that to devices that displayed the initial ad. Essentially, this new offering is extension of Placed Attribution, the Seattle-based company’s primary measurement product.
Placed Attribution is based on a panel model that includes more than 600,000 active opted-in mobile app users — Placed notes that number represents 1 in 450 adults in the US. That metric is also used by over 80 publishers, networks, and demand side platforms, including ncluding IPG Mediabrands, DigitasLBi, Horizon Media, Tapad, DataXu, Drawbridge, and TapJoy.
‘Clicks’ Are For Kids?
“Placed Revenue… enables advertisers using Placed Attribution to measure store visitation to layer in purchase data, providing a more complete view on return on ad spend,” said David Shim, Placed’s CEO/founder.
When it comes to driving more revenue into a specific media channel — whether social or display advertising — the issue for advertisers and agency buyers is whether there is proof that the audience is receptive and whether that “proof” can be determined in an apples-to-apples comparison. The primary metric in online advertising is still the clickthrough. But for online-to-offline ads, the demand to prove an actual sale is the Holy Grail.
So we put the question to Shim as to whether Placed Revenue allows media buyers and their clients to see “beyond the click.”
“As the Trix Rabbit might say, ‘clicks are for kids,” Shim responded. “Placed Attribution and Placed Revenue enable advertisers to measure and optimize against the 90 percent of retail transaction that occur in the physical world.”
xAd Signs On
The company has lined up a long list of partnerships over the past year. To help support Placed Revenue, location marketplace xAd has agreed to be the launch partner.
“As mobile and location continue to garner a larger percentage of total media spend, marketers and advertisers are realizing the power of mobile location to measure advertising’s direct impact on offline store visits and real world sales,” said Monica Ho, xAd’s head of Marketing. “Placed Revenue and Placed Attribution have helped xAd’s clients receive an unbiased and accurate view on return on ad spend and help the industry to unlock the true value of location-powered marketing.”
Placed Revenue also allows a look into how stores rank according to Purchase Rate, Average Spend, and efficiency (how much in-store revenue is generated versus that marketer’s ad spending).
The Purchase Rate that Placed is showcasing is based on over 2 million first party survey responses during Q2 2015. Under Placed’s calculations,Dollar Stores and Warehouse Clubs led the pack in terms of Purchase Rate.
“With the dollar stores, the price point seems to be the driver, while Warehouse Clubs are destinations for big ticket purchases,” Placed’s report said. In terms of Drugstores, Walgreens leads the pack, but closely followed by Rite Aid and CVS.
“The addition of revenue in Placed Attribution enables us to see the impact of advertising down to the sale, providing a more complete picture of ROI,” said Sarah Bachman, VP of Mobile Strategy at independent media shop Horizon Media.