With a new suite of performance-based pricing models, the global location tech firm GroundTruth is looking to tackle some of the most common spending challenges faced by major brand advertisers today.
GroundTruth’s new suite of solutions is being dubbed True Performance, and according to this morning’s announcement, it’s geared exclusively toward CPG brands looking for more efficient and accurate ways to measure their location-based marketing efforts.
The True Performance suite of performance-based pricing models includes GroundTruth’s cost-per-visit model, along with a pricing model for driving product sales that’s being described as the first of its kind.
“[GroundTruth] is the first and only location company to offer a suite of performance-based, offline buying solutions,” said Chief Marketing Officer Eric Hadley. “The [True Performance] suite offers sales metrics to help CPG brands improve ad measurement and focus on ROI at the SKU level, as well as store visit metrics to allow brick-and-mortar brands to focus spend on ads that drive in-store foot traffic.”
Today’s announcement is just the latest step for GroundTruth as the technology firm looks to create new solutions for ROI and ad measurement in the location-based marketing space. The company was known as xAd until 2017, when the location-based mobile advertising technology firm rebranded in a push to expand beyond ad tech.
More recently, GroundTruth has become known for its ads manager platform, which calculates the cost-per-visit for campaigns, along with other services. GroundTruth’s Cost Per Visit manager has been billed as the first end-to-end self-service platform for location targeting. While that solution was designed to primarily benefit smaller brands—such as Ted’s Montana Grill, a restaurant chain with locations in more than a dozen states—the True Performance suite is geared toward CPG brands looking to achieve better ROI from their location marketing efforts.
As Hadley sees it, the launch of True Performance means that GroundTruth will finally be able to cater performance-based buying models to its clients’ objectives, much like the company did for brick-and-mortar locations with last year’s launch of the cost-per-visit manager.
“Adding sales to our True Performance suite is a result of the proven market traction that has occurred since CPV’s launch,” he said. “So far the momentum has been extremely positive around our performance-based models. We believe marketers are measured on business results, not on how many impressions they can buy.”
Although there are other technology vendors offering clients the ability to tailor campaigns toward cost-per-action or offline performance goals, Hadley said GroundTruth is the only company with the ability to commit to these outcomes.
True Performance was designed to address concerns about fraud and to simplify the buying process for brand advertisers, capitalizing on GroundTruth’s location verification algorithm and its Blueprints technology to ensure that verified mobile signals are mapped back to precise locations. Over the course of the past two years, the company has focused on scaling its location data.
“GroundTruth is able to offer performance-based models through True Performance because of the scale of our data,” Hadley said.
The company now sees more than two billion visits a month, an 80-fold increase since 2016, at more than 100 million points of interest. In 2017, GroundTruth also worked with a third-party company called InfoScout to ensure that it was interpreting location with over 90% accuracy.
“Because of this depth and accuracy, we are confident in our ability to allow customers to pay only for the results they receive,” Hadley said.
Stephanie Miles is a senior editor at Street Fight.