You can tell if people are clicking on your mobile ads, but what if they’re actually compelled to visit physical locations because of a mobile ad?
Placed Attribution, the latest product from the location analytics company Placed, will tell you. The company is tapping into its location smarts to measure exactly how ads drive in store visits — it’s basically creating a whole new metric to track mobile ad conversions.
“Today people typically attribute location [in response to ads] either through a survey, or some type of coupon download event,” said David Shim, Placed’s founder and chief executive, in an interview with VentureBeat. “With us, we see 1,000 locations per panelist per day, we have a model built out with where they go in the physical world.”
Placed grabs its location data from an opt-in panel of mobile users in a variety of ways: through its Placed Panels app, which offers up rewards for tracking your location; through the Give 2 Charity app, which lets you donate to charity by sharing your location; and through integration in other apps. Shim tells me Placed is now tracking more than 100 million new locations every day (that’s impressive progress, considering that last year it took Placed around two months since launch to reach 1 billion locations).
With Placed Attribution, the company will issue reports to customers tracking in-store visits tied to mobile ad impressions, how much those ad-driven visits compare to typical store visitors, and it can also break down demographic information. It’s basically the same sort of metrics you see for tracking online visitors, just shifted to the real world.
“If you have an app that’s measuring location data in the background that doesn’t require anyone to check-in, you’re going to get more accurate data in terms of where people are throughout the day,” Shim noted.
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