Placed, which connects ads to in-store visits, has announced the addition of eight new partners to its network of over 80 companies that use the service to measure the impact of advertising on offline store visits.
The company, which measures over 300 million locations daily, said that it would now be partnering with GumGum, PadSquad, Pinger, Viant, RadiumOne, Samba TV, Tremor Video, and 4INFO. Placed has also been issued two new patents relating to collection of location data.
The company’s CEO David Shim said that Placed is planning to keep building out these kinds of partnerships, and that it’s specifically looking for a diversity of partner companies.
“With these different kinds of platforms, we’re making it easier to have a single solution to measure the effectiveness of ad exposure in terms of driving people in-store.” He explained that partners like GumGum, an in-image ad network, and Tremor Video, a video advertising marketplace, provide different types of inventory and execution to help ads reach the right audience.
Placed gives publishers like these the ability to showcase the value of their inventory in terms of driving people in-store, and helps them build their pitch to potential advertisers.
With digital CPMs still under pressure, Shim sees a near future in which publishers and networks will be focusing on a cost-per-acquisition model in terms of ad to in-store traffic. However, he believes that before a CPA type model can become the norm, a single attribution solution needs to set the tone. This is where Shim argues that Placed makes the biggest difference — as one of the only companies in this field openly listing the partners they work with on their website, the company can provide that necessary single attribution solution that can act as a universal currency to optimize or sell against.
In addition to attribution, Placed is also using its 300 million daily measured locations for insights and analytics to provide information on every location a consumer visits in a given day and where they might be more likely to visit tomorrow based on that data. The Placed 100 feature on the company’s website demonstrates some of the potential of this, listing the top 100 businesses in the US based on foot traffic.
“The value proposition there,” says Shim, “is that once you know how people consume the physical world organically, that’s when you can begin to use tactics like location based targeting, geofencing, video, or behavioral targeting, to really change that behavior.”
Shim says Placed is quickly becoming an industry standard for attribution, and that chief analytics officers at agencies are increasingly using the technology to measure the effectiveness of their ads, and that the service also validates location data from other sources: “We’re the only solution for attribution that validates [other models]. We’re not just going in saying ‘We’re building great models and you should trust us’ — we’re actually using a feedback loop of consumers to validate over 20 million store visits on top of the hundreds of millions of store visits that we’ve directly measured.”
Ally Reis is an assistant editor at Street Fight.