JiWire’s Location Conversion Index Links Location-based Mobile Advertising Campaigns with Real World Results
SAN FRANCISCO, CA — JiWire has unveiled a new location-based mobile advertising metric that provides greater accuracy toward measuring the effectiveness of advertising campaigns. Mobile marketing’s real potential is having the ability to connect with on-the-go consumers by linking location data with buying intent. According to JiWire, their Location Conversion Index (LCI) provides measurement of whether individuals who viewed a mobile advertisement were later seen in an advertiser’s desired location, addressing a key industry challenge of linking mobile campaigns to real-world results. JiWire’s LCI is the first mobile ROI metric that measures the actual increase of in-store foot traffic that can be attributed directly to a mobile campaign.
“LCI provides the mobile ad industry with a mobile-specific way to measure the ROI of our mobile ad campaigns that is based on real-world activity,” said Chia Chen, SVP and North American Mobile Practice Lead, DigitasLBi. “Having the ability to close the loop by identifying the increase in foot traffic driven from a specific mobile campaign is a significant breakthrough for an industry that relies on ROI.”
JiWire’s LCI was built on the principle that real-world metrics must account for real-world consumer influences in order to be meaningful for marketers. For example, LCI separates regular store visits from those driven specifically by a mobile campaign, which is critical when targeting an audience of desired or existing customers. In addition, LCI adjusts for seasonality, such as an expected increase in store traffic during holiday shopping. By leveraging the massive scale and accuracy of JiWire’s Location Graph platform, LCI also can differentiate between customers who are in a store versus people who are just nearby or in a close geo-fence, ensuring that only actual store visits are measured.
Location Conversion Index Provides:
- Accuracy: Measures consumers who are in-store vs. those who are walking by the store
- Audience scale: Compares millions of relevant profiles vs. the general population
- Seasonality: Accounts for and demonstrates actual visit increases due to ad exposure vs. expected seasonal increases and decreases of in-store visits
- History: Establishes natural store visit rate vs. assuming a uniform visit rate for campaign period
“Measuring performance of mobile advertising and achieving advanced audience targeting without infringing on user privacy are the top challenges in mobile advertising,” said Vikrant Gandhi, Principal Analyst with Frost & Sullivan. “JiWire’s Location Conversion Index™ is the first accurate measurement of drive-to-retail for the mobile advertising industry enabling marketers to understand the ROI of their mobile audience targeted campaigns.”
Major retailers and brands with a “drive to location” strategy have already begun using LCI to measure and optimize their mobile campaigns. A top Fortune 500 fashion retailer recently ran a campaign targeting casual female clothing shoppers, both regular customers and potential customers who frequently shop at competitors’ stores. The goal was to drive consumers into the retailer’s hundreds of store locations to promote a new seasonal clothing line. Measuring the foot traffic generated by the mobile campaign was critical, yet the brand did not want to rely on mobile coupons for their metric. They turned to JiWire’s LCI to measure the success of the campaign as it ran over the summer. The result was a 32 percent lift in store visits from consumers who viewed the mobile campaign versus an identically matched control group, and a 57 percent increase vs. a randomly selected general population.
“As an industry leader in understanding location data, we are continually identifying new ways for marketers’ to measure the ROI of their mobile campaigns,” said David Staas, president of JiWire. “It is not just about counting the total visits to the store, it is about demonstrating a noticeable increase of in-store visits after exposure to the mobile advertisement. With many variables measured and accounted for, the Location Conversion Index helps marketers truly understand how their mobile ad-spend influences their customers’ behavior.”
Editor’s Update: JiWire rebranded as NinthDecimal in June 2014
Free Trend Report: Why Location Is the New Currency of Marketing
Finding effective ways to deliver branded messages in today’s complex media environment is one of the biggest challenges facing advertisers. Traditional methods of advertising have become less effective as consumers spend less time in places where marketers have traditionally had an advantage in reaching them. In addition, consumer attention has fragmented across multiple channels as media options and device platforms increasingly diversify.
Active consumers spend money, and while they are going about their daily routine, they are also actively looking for information. According to Google, more than 50% of all mobile searches have local intent, and 17% of search happens while consumers are on the go.
Digital Out-of-Home (DOOH) advertising, also known as Digital Place-based (DPb) media, utilizes strategically placed, networked digital signage displays to reach on-the-go consumers while they are outside of their home with highly targeted messages. Location-based mobile and digital out-of-home media are part of a larger multiscreen ecosystem that effectively amplifies brand messages to create a deeper level of engagement with active consumers.
Why Location Is the New Currency of Marketing is aimed at CMOs, media buyers and strategists and provides insight into why marketers are increasingly shifting their advertising dollars to these rapidly emerging media platforms.
Highlights from Why Location Is the New Currency of Marketing include:
- The Connected Consumer
- Leveraging the Moment
- Multiscreen Campaign Planning
- Amplifying Reach With DOOH Media