IPG Media Lab + Thinknear Release Infographic – Harnessing the Power of Location
Location-based audience targeting superior in driving foot traffic, as IPG Media Lab & Thinknear media trial demonstrates better performance and lower cost across key mobile metrics.
In partnership with Thinknear, a leading location-based marketing platform, we are proud to present the results of a quantitative media trial examining how location based audience targeting (LBA) compares versus more traditional methods such as designated market area targeting (DMA) in mobile.
The scientific design included randomized control groups for each targeting method. We partnered with Office Depot Inc. to utilize mobile location data in identifying and targeting audiences based on behavioral location data.
The Lab also partnered with Placed, the market share leader in ad to in-store attribution representing the world’s largest opt-in location audience, to measure both brand impact as well as foot traffic.
The resulting infographic, Harnessing the Power of Location, details how LBA targeting reaches more specific and relevant audiences, drives both intent and actual visits to visit brick and mortar stores, and is significantly more cost-effective for marketers.
Key highlights from the resulting media trial findings include:
- Consumers reached through LBA targeting were 10% 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%) 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% lift in store visits, which is much higher compared to the industry norm of only 3.1% 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.