Placed Attribution Pushes Measurement Beyond Proximity, Introducing Viewability and ROI Metrics
SEATTLE, WA — Several studies have recently highlighted out-of-home advertising’s influence on consumers, most notably a study by the the Outdoor Advertising Association of American (OAAA), which found that out-of-home advertising intercepted consumers near the point of purchase better than any other advertising medium. Another study by the Future Foundation on behalf of FEPE International, revealed that more than 40% of consumers looked up information online using their smartphones immediately after seeing an out-of-home ad.
One of the biggest issues holding back out-of-home advertising has been a lack of accurate engagement metrics, knowing whether an out-of-home campaign actually resulted in a store visit and ultimately translated into a sale is key to moving more advertising dollars into the medium. There’s a lot a stake here, and that’s why a number of companies have been trying to figure out how to attach attribution metrics to outdoor.
The latest company offering an attribution solution is Placed, Inc., a leader in store attribution, announcing a first of its kind solution to connect out-of-home advertising to store visitation. Placed Attribution is a patent pending approach to viewability, that according to the company, goes beyond proximity by taking into account angle, distance, and direction. The company says that Placed Attribution has the ability to not only measure proximity, but viewability, making out-of-home campaigns on par with digital in terms of measurement and attribution.
According to Placed, the company already measures over 600 million latitude and longitude pairs sourced on a daily basis from 1 in 300 adults across the United States, adding up to the largest audience in the world that has opted in to persistent location measurement. By combining first party location with directly measured sensors readings including accelerometer, gyroscope, and compass, Placed is able to deliver the most accurate solution in market to connect OOH exposure to store visitation.
“In the past 12 months we’ve seen a material uptick in advertisers asking us to extend Placed Attribution into out-of-home,” said David Shim, Founder and CEO at Placed. “OOH advertisers and media companies continue to push for measurement beyond proximity, and Placed Attribution delivers against that demand by introducing a viewability metric combined with ROI metrics including store visits, purchases, and revenue.”
With this launch, Placed Attribution delivers to advertisers an omnichannel currency to measure store visitation across mobile, desktop, and out-of-home. Launch partners include agencies Rapport, Horizon, Posterscope, and Kinetic along with media partners, Clear Channel Outdoor and National CineMedia (NCM).
“As one of the earliest agency partners of Placed’s, IPG Mediabrands and Rapport are excited to extend that relationship from digital into OOH,” said Michael Cooper, Global President and CEO at Rapport. “The ability to deliver to our clients and teams the ability to measure the offline impact of OOH media spend will change the way that the media is judged against other media channels.”
“At Kinetic we are continually evolving to ensure we deliver the most relevant connections with clear and measurable outcomes, which makes us excited to be working with Placed,” said David Krupp, CEO, U.S. at Kinetic Worldwide. “In order to advance the ability of brands to make powerful connections with people on the move, we are continually testing data and technology to better understand audience behavior and movement. Measurement of proximity, viewability, and attribution are key performance indicators Placed supports for tracking OOH effectiveness and the more data we can analyze the more targeted our clients will be in delivering the right messages in the right place and time to the most opportune audience.”
“Finding measurement solutions to quantify the real-world impact of billboard exposures is important to us,” said Jeff Tan, VP of Strategy at Posterscope USA. “We evaluated solutions in market and chose Placed as our preferred attribution partner based on their differentiated offering built on accuracy, privacy, and scale. In a recent campaign for a well-known global CPG, Placed was able to quantify brand awareness, favorability, and offline action to deliver metrics that make OOH a measureable and actionable medium for marketers.”
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