Placed Racks Up Partners And Patents, Crosses Measurement Milestone Of 300M Locations
New alliances with 4INFO, GumGum, Tremor Video, RadiumOne, and four others will share the company’s first-party in-store attribution metrics.
In-store visitation measurement company Placed has added eight new ad sales and analytics partners that provide rich media ad inserts, cross-platform programmatic, and online video as the company has crossed two milestones: It’s been issued two software patents, and it now collects attribution data from over 300 million business locations.
The patents issued include “Inference pipeline system and method,” and “System and method for data collection to validate location data.” We asked Placed CEO/founder David Shim to translate.
“These two patents are foundational to Placed Insights and Placed Attribution,” Shim said, referring to the company’s primary in-store analytics and metrics offerings. “By building an attribution solution that doesn’t start with an ad call, but instead is designed to measure location data directly from the device for the sole purpose of identifying store visits, Placed has built a fundamentally more accurate approach to measuring foot traffic. In addition, Placed’s approach of using first party data to validate store visits in its attribution models is now not only unique to Placed, but patented by Placed.”
Partners In Place
Placed also now has more than 80 ad tech partners, including eight new ones that will be using its analytics to power mobile ads intended to drive in-store sales.
Those new collaborators include rich media ad company GumGum, tablet and mobile ad network PadSquad, wearable and text-based ad player Pinger, cross-platform programmatic platform RadiumOne, video marketplace Tremor Video, Interpublic Group-backed addressable TV ad company Samba TV, ad tech holding company Viant, and online-to-offline sales analyst 4INFO.
“With over 80 partners crossing publishers, networks, and technology providers, Placed provides an attribution solution agnostic of medium, which enables both buyers and sellers to invest in a single currency,” Shim said when asked about the importance of these new partners. “Wherever ad dollars are spent, Placed will add partners, as we continue to be the currency to measure ad spend to store visits and lift.”
Some of Placed’s new partners also weighed in on how they perceive the benefits of working with the company on proving their ads can drive not only in-store visits, but actual sales.
“Advertisers want to be able to measure and have insight into all of the moments that matter along the customer journey,” said 4INFO CEO Tim Jenkins. “So, in addition to measuring conversions using actual in-store sales transactions, we like to offer our customers useful path-to-purchase insights, including the Placed store visit data. Our customers also use some of the unique Placed Insights, such as other stores their customers frequent, to inform future campaigns.”
Ariane Gut, Tremor Video’s head of Insights and Analytics, also noted the importance of joining online and offline measurements together as a reason for teaming up with Placed.
“Our partnership with Placed provides our clients with a solution to accurately measure the effectiveness of their cross-screen digital buys to prove the impact of premium video advertising on offline location-based activities,” Gut said.
While the number of 300 million locations measured on a daily basis stops short of proving whether or not a sale was made, there is a larger value that Placed’s analytics provide, beyond the breadth of its retailer coverage: the transparency of knowing fully what brand an ad connected with and where the data came from.
“[That 300 million coverage] represents one of the largest and proprietary sources of location data sets in the world, and it highlights the continued scale that Placed is able to deliver to its partners,” Shim said.