Placed Incorporates Paid Search Into ‘Clicks-To-Bricks’ Store Attribution
Placed teamed with RetailMeNot to measure 10 campaigns across a variety of retail categories and found a "4x return" on ad spending, David Shim says.
Placed is now tying paid search results into its in-store attribution capabilities as marketers look to the mix of social media, brand advertising, and anticipating “micro-moments” to generate visits.
While search has long been the largest form of online advertising and marketing — in 2017, paid search is estimated to reach $32.32 billion in spending, Placed notes — platform companies have tended to look to targeted display ads as their primary vehicle to reach consumers.
Now, as the role of location-centered Connected Intelligence via voice-activated digital assistants like Alexa, Siri, Okay Google, Cortana, and Bixby emerge as channel for consumers to find what they want, brands can no longer afford to view search ads as on online-only conversion tool.
As CEO David Shim describes it, “Placed Attribution for Search,” as the feature is called, directly measures the search click through a redirect implemented by the advertiser. This click redirect allows Placed to map keyword clicks to its audience that generates over 140 billion latitudes and longitudes on a monthly basis.
“Search’s explosive growth over the last decade has been directly tied to its ability to drive online sales, yet online represents only 10 percent of retail sales in the U.S.,” said David Shim, Founder and CEO of Placed. “Placed Attribution for Search will bring a second golden age for marketers who want to tie clicks back to bricks. Having RetailMeNot as launch partner highlights the importance of offline measurement for search, both for advertisers and publishers.”
The addition of paid search analysis to its arsenal could also help Placed’s parent, Snap Inc., which acquired the online-to-offline attribution platform in June, provide greater insights on whether ads on its Snapchat app has worked to drive store visits.
As part of building out their “clicks-to-bricks” search partnership, Placed and RetailMeNot measured 10 campaigns across a variety of retail categories, Shim tells GeoMarketing.
Paid Search delivered a 4.0x return on ad spend (ROAS) that was incremental to the ROI driven online, Shim adds.
And given the time frame, the move shows how retailers can capitalize on the micro-moments idea.
“With 37 percent of store visits attributable to search occurring within 48 hours, moments do matter,” says, Shim.
“RetailMeNot and Placed first entered into a strategic partnership in 2015 to measure the effectiveness of paid media on our properties in driving consumers to retailers’ store locations,” says Marissa Tarleton, RetailMeNot’s CMO. “RetailMeNot is committed to solving attribution challenges, and Placed delivered a best in class solution that is independent of the purchased media. Paid search is an important part of our integrated marketing strategy to enable millions of consumers to discover savings when deciding what to buy and where to shop. With the launch of Placed Attribution for Search, RetailMeNot is now actively measuring paid search efforts to store visits, where the majority of all retail transactions occur in the U.S.”