As entertainment channels become increasingly fragmented, advertisers require a better way to track the effectiveness of their campaigns. In today’s world, advertising campaigns must adjust on the fly to reach the right customers. Technology is evolving to meet those needs.
RewardExpert recently had the pleasure of speaking with David Shim, Founder and CEO of Placed, to learn how they are focused on making the physical world as measurable as the digital.
How is Placed Increasing the Effectiveness of Ad Campaigns?
Placed was founded in 2011 and now measures over 3 billion visits on monthly basis. They provide the most comprehensive understanding of consumers’ offline behaviors.
Leveraging one of the world’s largest location platforms and billions of directly measured locations, Placed then applies their patent-pending statistical models. Through this process, Placed is able to turn complex location data into actionable insights for clients.
Clients better understand how consumers react to ad campaigns and what to do to reach them more effectively and efficiently. This allows advertisers to proactively adjust or cut campaigns that aren’t working. Then redirect the budget to campaigns that are producing the most results.
How is Placed Helping Businesses?
In the past 12 months, Placed has worked with over 500+ brands to measure the effectiveness of hundreds of millions of dollars in advertising on store visits.
It is important to note that Placed does not sell ads. Instead, they measure the effectiveness of advertising on behalf of 500+ brands and 400+ publishers. Placed is the most adopted and trusted location measurement solution in-market.
There is value across all types of media channels. However, there isn’t a single standout performer. Instead, there are winners and losers in each category of media. The goal is to measure success either through an online conversion or a real-world visit. For example, TV is successful in driving reach and conversion, while digital channels enable delivering ads to more targeted audiences resulting in incremental visits.
Location analytics and offline attribution help brands and retailers understand more about who their customers are (and aren’t).
How Does this Technology Improve the Travel Experience?
Hotels and tourism boards are realizing the potential of Placed’s location analytics and offline attribution technologies. With hundreds of millions of dollars spent on advertising every year, the travel industry needs to understand their return on this massive investment.
With Placed’s offline measurement capabilities, the effectiveness of these campaigns is no longer limited to online conversions. Placed is able to bridge the gap enabling measurement of hotels booked directly, through online travel agencies (OTAs), and via third-party apps. With this technology, tourism boards like the Las Vegas Convention and Visitor Association can measure net new tourists coming into their city.
For consumers, this increased visibility into customer interactions allows hotels to more easily deliver the right message. For instance, infrequent customers are targeted to join rewards programs, while top-tier members can be recognized and rewarded for their loyalty.
Privacy is Critical for Success
Consumer privacy is critical, and Placed is committed to a consumer opt-in approach. They do not sell advertising and have no plans to.
People who wish to participate can be rewarded for sharing their data. First off, they will see ads that are more relevant to them based on their location and spending preferences. Second, Placed offers three options for consumers to be directly rewarded for their participation – Panel, Frequent Flyer, and Give2Charity.
Panel allows panelists to earn points and redeem gift cards and sweepstakes entries. Frequent Flyer users earn points that can be redeemed for miles with the airline of their choice. Give2Chartity is an opportunity to turn those points into charitable contributions to worthwhile causes.
For more information about how to improve the tracking and effectiveness of your advertising campaigns, visit their website at Placed.com today.
To start earning points towards gift cards (Panel), travel rewards (Frequent Flyer), or charitable donations (Give2Charity), download the respective app from your smartphone or tablet.