JiWire Unveils Location Conversion Index, the Mobile Industry’s Most Accurate Drive-to-Retail Metric
(PRWEB) October 02, 2013 -- JiWire, the leading location-powered mobile advertising and data platform, unveiled the Location Conversion Index (LCI), the industry’s most accurate solution for measuring the effectiveness of mobile advertising. LCI provides a measurement of whether individuals who viewed a mobile ad were later seen in that advertiser’s desired location, addressing a key industry challenge of linking mobile campaigns to real-world results. Unlike other metrics, LCI is the first mobile ROI metric that measures the actual increase of in-store foot traffic that can be attributed directly to a mobile campaign.
“LCI provides the mobile ad industry with a mobile-specific way to measure the ROI of our mobile ad campaigns that is based on real-world activity,” said Chia Chen, SVP and North American Mobile Practice Lead, DigitasLBi. “Having the ability to close the loop by identifying the increase in foot traffic driven from a specific mobile campaign is a significant breakthrough for an industry that relies on ROI.”
JiWire’s LCI was built on the principle that real-world metrics must account for real-world consumer influences in order to be meaningful for marketers. For example, LCI separates regular store visits from those driven specifically by a mobile campaign, which is critical when targeting an audience of desired or existing customers. In addition, LCI adjusts for seasonality, such as an expected increase in store traffic during holiday shopping. By leveraging the massive scale and accuracy of JiWire’s Location GraphTM platform, LCI also can differentiate between customers who are in a store versus people who are just nearby or in a close geo-fence, ensuring that only actual store visits are measured.
“Measuring performance of mobile advertising and achieving advanced audience targeting without infringing on user privacy are the top challenges in mobile advertising,” said Vikrant Gandhi, Principal Analyst with Frost & Sullivan. “JiWire's Location Conversion Index™ is the first accurate measurement of drive-to-retail for the mobile advertising industry enabling marketers to understand the ROI of their mobile audience targeted campaigns.”
Major retailers and brands with a “drive to location” strategy have already begun using LCI to measure and optimize their mobile campaigns. A top Fortune 500 fashion retailer recently ran a campaign targeting casual female clothing shoppers, both regular customers and potential customers who frequently shop at competitors’ stores. The goal was to drive consumers into the retailer’s hundreds of store locations to promote a new seasonal clothing line. Measuring the foot traffic generated by the mobile campaign was critical, yet the brand did not want to rely on mobile coupons for their metric. They turned to JiWire’s LCI to measure the success of the campaign as it ran over the summer. The result was a 32 percent lift in store visits from consumers who viewed the mobile campaign versus an identically matched control group, and a 57 percent increase vs. a randomly selected general population.
“As an industry leader in understanding location data, we are continually identifying new ways for marketers to measure the ROI of their mobile campaigns,” said David Staas, president of JiWire. “It is not just about counting the total visits to the store, it is about demonstrating a noticeable increase of in-store visits after exposure to the mobile advertisement. With many variables measured and accounted for, the Location Conversion Index helps marketers truly understand how their mobile ad-spend influences their customers’ behavior.”
How Location Conversion Index Works
First, JiWire establishes a benchmark of how likely it is that an audience, such as young, professional urban women, will visit a store based on the historical store visit rate. Then, JiWire measures the increase in visits compared to the historical benchmark for those consumers who have received the ad. To address the natural fluctuation of in-store traffic, such as the holiday season, JiWire compares people who saw the ad to a control group of consumers over the same period of time. Through JiWire’s advanced audience matching capabilities and large-scale data, the control group is made up of essentially an identical “twin” to each person exposed to the campaign. This ensures the most accurate comparison versus a general population of consumers who may never visit a retailer’s.
The Location Conversion Index Advantage
• Accuracy: Measures consumers who are in-store vs. those who are walking by the store
• Audience scale: Compares millions of relevant profiles vs. the general population
• Seasonality: Accounts for and demonstrates actual visit increases due to ad exposure vs. expected seasonal increases and decreases of in-store visits
• History: Establishes natural store visit rate vs. assuming a uniform visit rate for campaign period
About JiWire
JiWire is the leading location-powered mobile advertising and data platform. Leveraging proprietary historical and present location data, JiWire enables advertisers to effectively engage their desired audience across all mobile devices at scale. Pioneering true one-to-one audience targeting in mobile based on the belief that mobile audiences are defined by location – where you go is the best indicator of intent, JiWire’s innovative, ROI-driven approach to mobile advertising delivers 4x higher performance over traditional mobile targeting or geofencing approaches.
JiWire was awarded Frost & Sullivan’s prestigious 2012 Best New Product Innovation Award for Mobile Advertising, while referenced as “One of the most accurate audience segment & profiling data sets in the industry.” JiWire’s unique data platform leverages both Wi-Fi and Mobile audience big data to create custom audience profiles from 20 billion location tags from over 700 million devices.
Jillian Gerig, JiWire, http://www.jiwire.com, 916-215-3286, [email protected]
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