Placed today unveiled a location analytics tool that gives advertisers new insights into how people interact with physical advertisements.
The Seattle company already has a product that pulls in smartphone location data from 600 million consumer locations every day from those that opt-in to share their whereabouts, which can be invaluable for some marketers. Its technology helps provide data on everything from how TV ad spending translates to in-store traffic, to how Amazon is impacting brick-and-mortar retailers.
Now, Placed is taking it a step further beyond proximity by utilizing the accelerometer, gyroscope, and compass on your smartphone to figure out how exactly you are interacting with a given advertisement. That data is used by advertisers to calculate ROI metrics including store visits, purchases, and revenue.
“This is a significant milestone for Placed in that it extends our attribution solution beyond ads on the screen to those in the physical world,” Placed CEO David Shim told GeekWire. “By adding outdoor advertising as a supported medium, Placed is delivering to advertisers an omnichannel solution that delivers a single currency that advertisers can use to measure the effectiveness of the mobile, desktop, and outdoor media buys in driving real world actions.”
To show how the new technology is used, Shim offered up a before-and-after scenario with a consumer driving or walking by a billboard for a national burger chain. Without Placed, the burger chain isn’t able to measure if the consumer could have viewed the board, or if they ultimately visited their restaurant.
With Placed, however, the chain can determine who could have viewed the board and whether that drove a consumer into the restaurant.
Other examples include using the technology to measure in-cinema ad exposure for a national retailer. This information helps connect the customers who saw the ad to the number of store visits that occurred within a given time span.
The image below shows how Placed can figure out exactly what advertisements a consumer would have been able to see.
Placed, which counts more than 100 media partners, continues to operate three core services: Placed Insights, Placed Attribution, and Placed Targeting. Founded in 2011, the 50-person company has raised $13.4 million to date from firms like Two Sigma Ventures, Madrona Venture Group, and IPG Mediabrands. It plans on hiring another 50 employees this year, bringing its total headcount in Seattle up to 75.