The GeoMarketing Top 5 Countdown
When it comes to local online/offline attribution, is it possible to consider each step in the purchase path? BIA Kelsey's Mike Boland proposes the "full funnel" solution.
Determining whether or not a digital ad helped inspire a consumer to visit or purchase an item in a physical store is still a challenge — but perhaps the problem is not as difficult as it used to be, a blog post by BIA Kelsey analyst Mike Boland suggests. The answer is to go with “full funnel attribution.”
In a general sense, full funnel attribution involves assigning specific values throughout a consumer’s path-to-purchase. The idea is that a consumer isn’t inspired to buy something based on the “last click” of an ad or even the first. A whole range of influences are brought to bear on why someone spends their money at a store at any given time.
The challenge remains: how should the individual steps a consumer takes be valued until the moment they put money down — or activate their mobile wallet — at the cash register?
For local advertising, mobile is the key factor and by targeting consumers based on where they shop, the ability to track and connect the ads people get on the smartphones in the outside world helps connect the impact of search, display and traditional ads. Mobile is a crucial piece of the puzzle because it tends to be right there in the store with the consumer. As mobile payment becomes more commonplace, the loop around online-to-offline will be complete. But as Boland notes, these are obviously still “early days.”
In terms of why local offers so many clues to the impact of digital ads, Boland also reminds us that 93 percent of US shopping happens offline, not online.
- Google and Apple Adjust Strategies on Mobile Payments — Mike Isaac, Brian X. Chen, The New York Times
- Juice Mobile CEO: Beacons Will Make Location ‘Honest’ — Liz Taurasi, StreetFight
- Advertising Meets the Internet of Things — Chuck Martin, MediaPost
Finally, onto our top stories from this week!
Uber, Facebook, and Apple have been digging into their wallets to get custom location data. David Kaplan examines whether this means that AirBNB, Amazon, and Lyft will be likely to vie for navigation tech purchases as well.
The fast-food morning battles continue, as the burger chain aims at patrons in Northern California by combining “on-demand” delivery and sweepstakes.
The digital community looks to offer an alternative to Yelp by helping young tourists have authentically local experiences while traveling.
Patrick Pleiss plans to help double the company’s size by end of year.
With its BeAudience platform, mobile tech startup Beintoo is building audience segments by looking at how long a user spent in-store. Lauryn Chamberlain talks to Beintoo’s CEO and founder Antonio Tomarchio, here.