IPG Media Lab has shared the results of a quantitative media trial, which examined how location-based audience targeting (LBA) in mobile compares with more traditional methods, such as designated market area targeting.
The creative tech arm of IPG Mediabrands produced the results via an infographic in partnership with Thinknear, a location-based marketing platform. Titled, ‘Harnessing the Power of Location’, itdetails how LBA targeting reaches more specific and relevant audiences, drives both intent and visits to brick and mortar stores, and is significantly more cost-effective for marketers.
The IPG Media Lab and Thinknear partnered with Office Depot Inc. to utilise mobile location data in identifying and targeting audiences based on behavioral location data. The resulting media trial findings indicated that foot traffic increased more than 29 per cent with LBA targeting based on a standard ad, and over 31 per cent when the LBA targeting was paired with a dynamic location-aware advertisement, as measured by Placed Attribution.
Among key audience segments, intent to visit the store increased more than 116 per cent using the LBA and location aware ad combination.
“Location data is transforming marketing practices across the mobile industry. The takeaways from this research show that data can be used in ways far beyond simple geo-fencing,” said Brett Kohn, VP of marketing & product at Thinknear.
“The use of location data has evolved to and our core focus area is helping marketers develop best practices in the application of that data to meet business goals.”
Key highlights include:
- Consumers reached through LBA targeting were 10 per cent more likely to fit into the brand’s key psychographic target.
- LBA targeting was more effective at reaching new potential customers – those who purchase office supplies at competitive stores.
- Generic DMA targeting had no measureable impact on reaction by key customer segments. However, those reached through LBA targeting showed significant lift (+116 per cent) in intent to visit the store.
- Location aware ads nearly doubled the impact in visitation intent. Using a location aware creative combined with LBA targeting led to the best result.
- Only LBA targeting translated into actual foot traffic – a 29 per cent lift in store visits, which is much higher compared to the industry norm of only 3.1 per cent lift in store visits.
- LBA targeting was also highly cost effective, with a $1.02 cost per incremental store visit compared to $6.39 for the general industry benchmark.
“It makes sense that the more we can refine our audience targeting to speak to the needs of individuals, not broad categories, the more positive impact we’ll see for advertisers, including both digital and brick and mortar businesses,” said Kara Manatt, SVP, intelligence solutions & strategy at IPG Media Lab.
“What’s highly encouraging is that we’re proving there are ways to both improve performance but to also do so at a much cheaper rate.”
Twitter has just experienced its fastest growth in revenue since 2014, with the social media platform benefiting from increased interest from advertisers. Revenue was up 74 per cent YoY, according to the company’s Q2 results, reaching $US1.19 billion ($1.6 billion) from $US683.4 million ($925 million) 12 months ago. The strong results came in the same […]
Wild Turkey has announced the launch of its new global creative campaign and platform, ‘Trust Your Spirit’, featuring the brand’s creative director and spokesperson, Matthew McConaughey. The global campaign and platform ‘Trust Your Spirit’ is to encourage people to be bold, unapologetically themselves, and stay true to who they are. The global tagline and ethos […]
Telecommunications company Optus has announced it will launch the world’s first TikTok sign-language activated filter. Featuring Optus ambassador Ian Thorpe, Optus will unveil a branded effect that shows TikTok users how to say key phrases in Auslan sign language, including ‘How are you?’ and ‘It starts with Yes’, through the hashtag challenge #SignYes. Optus will […]
Podsights has revealed new insights into the effectiveness of advertising in podcasts, tracking global and Australian podcast advertising trends. This is the first Australian report to be published since ARN partnered with Podsights to set the standard for best-in-class podcast advertising measurement. The report includes additional analysis and follows a series of Measurement Masterclasses held for […]
NGEN’s 2021 charity cup has raised over $175,000 for UnLtd charity partner Gotcha4Life. Gotcha4Life is a not-for-profit foundation raising awareness and funding to provide educational workshops and innovative programs that build mental fitness in individuals and communities. While Sydney and Brisbane completed the Charity Cup in June, before Covid restrictions hit, the final leg in […]
Australian tech incubator Cicada Innovations and Biennale of Sydney are launching the ‘New & Sustainable Materials Challenge,’ in an effort to create a more sustainable future. The works of chosen material-makers will be showcased to millions of Biennale audiences, exhibition partners, and exhibition makers globally. The Challenge is open to any Australian and UK startups, […]