CEO Letter: Continued Independence, Investment, and Innovation

To Our Customers, Partners, and the Industry:

 

In June, Placed agreed to join Snap to establish the de facto standard in offline measurement for the next decade.  Prior to the announcement, Placed had established itself as the leader in location-based attribution with over $500MM in media measured in the past 12 months across thousands of campaigns and hundreds of partners.  Placed achieved this level of success without selling a single ad, and instead focused on delivering one of the best-in-class attribution solutions for advertisers and publishers in a manner that is truly independent of media.

 

Post-close, both companies are committed to maintaining Placed’s position as an unbiased and independent leader in connecting ads to store visits.  To reinforce Placed’s commitment to operating independently:

 

  • Placed will operate independently of Snap, maintaining its brand and continuing to deliver offline attribution to 500+ advertisers and agencies
  • Placed will continue to add new advertisers and partners to its client list
  • Placed employees will operate separately from Snap employees
  • Placed will continue to maintain its own offices, separate from Snap offices
  • Placed’s production infrastructure will operate separately from Snap’s production infrastructure
  • Placed will treat Snap in the same manner as the 300+ partners who utilize Placed Attribution and Placed will not share advertiser or partner data with Snap

In the first full month following the close of the acquisition (August), Placed experienced record growth.  When comparing the month prior to the announcement (May) and the month following close (August), Placed experienced:

 

  • 20.1% increase in impressions measured
  • 13.1% increase in advertisers measured
  • 19.2% increase in publishers, networks, and platforms

The adoption rates over the last three months are near all-time highs, which further quantifies Placed as a leading source for offline attribution.  We are humbled by the demand that we’re seeing in the market, and the trust that 55 new publishers, networks, and platforms have put into Placed as the unbiased and independent source of truth when it comes to store visits attributable to media.

 

Adoption metrics alone don’t showcase the success that Placed has seen in the market. Since the news in June:

 

  • Placed plans to increase investment in product significantly going into Q4.  This includes a 400%+ increase in investment in TV
  • Placed released a white paper highlighting the issues associated with exchange based location data, where 99% of the locations aren’t able to determine store visits
  • STX and Horizon used Placed to measure the impact of digital and TV on the release of Bad Moms
  • RetailMeNot utilized Placed Attribution to independently measure the impact of paid search on retail store visits

Snap’s acquisition of Placed was not designed as a roll-up, but rather as an investment in cementing Placed as the default platform for measuring the physical world.  Placed aspires to be the location platform for the next decade throughout the world.

 

If you have any questions or concerns about Placed measurement, please do not hesitate in reaching out to me directly at david@placed.com.

 

Sincerely,

 

 

 

 

David Shim

Founder and CEO

 

Hurricane Irma’s Impact on the Location of People and Places

Placed analyzed the location and visitation data generated by residents in the path of Hurricane Irma to gain insights into impacts of what has already proven to be an abnormally active storm season.

 

Foot Traffic to Businesses:  Areas impacted by Hurricane Irma saw quantifiable increases in visitation to grocery stores (2.1x), gas/convenience (1.7x), and pharmacy (1.7x) in the days before expected landfall of Irma. While these visits were expected, unexpectedly visits to Pet Food and Supplies retailers, Diet & Nutritionists businesses, and Sporting Goods stores also saw increased visitation between September 4th through the 7th.

 

Restaurant/QSR locations saw up to 3.7x visitation rates by September 8th as residents began evacuation, or conserved supplies by eating out up until the last minute.  Interestingly, Check Cashing locations saw upwards of 28X the visitation from prior to the hurricane, possibly due to banks being closed and power outages forcing cash only transactions. Wireless retailers also saw significant increases in visitation (1.5x-4x) before, during, and immediately following the storm.

 

Evacuations Before Landfall:  By mapping “away from home” percentages by city by day, we clearly see the alignment to evacuation notices as well as delayed returns for areas where Hurricane Irma caused extended power outages.

 

  • Evacuations Start (Average): 2 days before landfall
  • Population Returns (Average): 3 days after landfall, 5 days after landfall for areas with extended power outages

Distance Traveled:  The metric “distance traveled from home” indicates that the Sept 6th Hurricane Irma path projections, which placed the center of the storm traveling up the Eastern coastline, aligns with the first wave of residents of Miami and Naples opting to leave their home locations and travel distances averaging as much as 260 miles to escape the hurricanes cone of damage.

 

  • Shortest Average Distance Traveled (Pre-Land Fall): 32 miles, Tallahassee Residents
  • Longest Average Distance Traveled (Pre-Land Fall): 295 miles, West Palm Beach Residents

The September 7th announcement of mandatory evacuations for additional cities beginning Sept 8th initiated a second wave of residents departing with Ft Myers-Naples area seeing 73% of residents on the move.

Placed Attribution Ties Store Visits to Paid Search, 37% of Store Visits within 48 Hours of Search

RetailMeNot Delivers 4X Return on Ad Spend for Paid Search based on Offline Incremental Sales

 

Placed announces the launch of Placed Attribution for Search. With this launch, Placed is the first and only attribution solution independent of media to tie search clicks to store visits. With the addition of paid search, Placed Attribution delivers an omnichannel measurement solution that is the standard currency of measurement across digital and out-of-home advertising.

 

In 2017, paid search is estimated to reach $32.32B in spend, largely driven by search’s ability to drive measurable and cost efficient conversion online. To date, offline conversions have played a limited role in the growth of search due to the inability to tie clicks back to store visits independent of media.

 

“Search’s explosive growth over the last decade has been directly tied to its ability to drive online sales, yet online represents only 10% 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.”

 

Results: RetailMeNot

RetailMeNot, a leading digital savings destination connecting consumers with retailers, restaurants and brands, partnered with Placed to measure the effectiveness of paid search in conjunction with their content to drive consumers in-store. Placed and RetailMeNot measured multiple paid search campaigns across a diverse list of retailers, where the paid search click drove consumers to a RetailMeNot landing page.

 

“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. RetailMeNot is committed to solving attribution challenges, and Placed delivered a best in class solution that is independent of the purchased media,” said Marissa Tarleton, chief marketing officer at RetailMeNot. “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.”

 

  • Time to Visit:  Placed measured that 37.95% of retail store visits attributable to RetailMeNot’s paid search campaigns occurred in the first 48 hours.

 

  • Clicks to Bricks:  RetailMeNot search campaigns outperformed Placed’s retail benchmarks for lift by an average of 4.3x.

 

  • Return on Ad Spend:  Paid Search returned a 4.0x return on ad spend (ROAS) that was incremental to the ROI driven online.

 

How It Works

Placed Attribution for Search 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. Placed’s location platform represents the largest set of active locations in the industry. Using these raw locations, and patented models to identify visits and assign them to places, Placed can directly connect paid search to store visits.

 

Interested in learning more?  Contact us at sales@placed.com.

Accurate Location in Limited Supply, Findings from Placed Research

In the same way in which ad viewability was the hot topic issue these past 18 months, Placed anticipates location accuracy to enter into the headlines.  Placed’s research found that on average the accuracy of exchange based locations were on average off by more than 4 city blocks!  Additionally only 1% of bid request are accurate enough to identify store visits.

 

Download Placed’s Accuracy & Bias in Ad Exchange-Derived Location Data White Paper at https://www.placed.com/resources/white-papers/location-accuracy-bias

 

Excerpts from the white paper:

 

Growth in location based advertising is tied to continued growth in mobile usage. Current spend projections for location based targeting are estimated to reach almost $30B by 2020. As spend increases, so will expectations around validating the accuracy of both the location data and the subsequent visitation impact

 

However, there are several well known limitations of exchange-derived location data. First, the

source (e.g., GPS, cell tower, WIFI, IP) and accuracy of a given exchange-derived location data

point is generally unknown without additional validation. Second, given that ad impressions are

served and exchange-derived locations are observed only when the device is in use, there is the

potential for significant measurement bias to exist.

 

High-level results from the location accuracy analysis include:

 

  • The average accuracy of exchange-derived locations is over 4 New York City blocks.
  • After filtering for location accuracy, only 1% of bid requests are useful for in-store measurement (based on a location accuracy < 50 meters).
  • 80% of bid requests are made while people are in between visits—and most of the rest are made at home, limiting viable use of the data for determining store visitation or affinity.

Takeaways from the analysis of bias in exchange-driven location data:

 

  • Exchange-derived locations are only present when the device owner is using the phone and browsing an app that serves ads, thus bid stream data over indexes on location data from Lodging, and Gyms & Fitness Centers– likely due to readily available wifi combined with extended time spent at a given business.
  • Key retail categories such as Fashion, Professional Services (ex. Staples, OfficeMax), Sporting Goods and Computers & Electronics are under-represented in bid data.
  • The skew toward a subset of commercial business categories creates a bias in exchange derived data that requires validation against first party data to ensure corrected weighting.

Placed joining Snap Inc!

Placed is excited to announce today that we are joining the Snap Inc. team!

 

Over the past 12 months, Placed has measured more than $500 million in media spend to store visits, across thousands of campaigns and hundreds of partners, cementing Placed as the leader in location-based attribution.

 

By partnering with Snap, we will do even more. Still working independently, Placed’s goal continues to be the adoption of a common yardstick that can measure the offline effectiveness of advertising across multiple platforms and publishers.

 

Together, we believe we can drive much better results for advertisers and publishers.

 

David Shim

Most Popular Apps for Clinton and Trump Supporters

The differences between Trump and Clinton supporters extend beyond political view and into the apps that they are more likely to have installed on their smartphone. Utilizing Placed’s double opt-in audience, Placed was able to connect localized voting preferences to apps installed.

 

Using apps as a proxy, Clinton supporters are content generators with messaging and photo apps making up 70% of the list, while Trump supporters are more content consumers with 60% of the list including apps like NFL Mobile, Slacker Radio, Audible, Amazon Music, and Kindle. As it relates to retail, Trump supporters gravitate towards the market leaders with Walmart, the largest retailer in the US, and Amazon, the largest retailer in the US, representing 4 out of the top 10 apps.

 

For both candidates, the most popular businesses in the physical world by candidate preference have very little correlation with their supporters’ digital activities. This separation of offline versus online behaviors even for the same candidate highlights the importance of treating each medium in its own silo, as what works online isn’t necessarily going to work offline.

 

With Trump raising over $26MM in June through online and mail solicitations, it highlights digital as a strong channel to reach his strongest supporters and drive donations. Utilizing this list, Trump can focus fundraising efforts on apps where his supporters are most likely to be found. Clinton’s strength in social applications could represent an opportunity to replicate President Obama’s success in 2012 leveraging social media to drive donations.

 

Clinton Trump Supports Most Popular Apps

New Partners Across Programmatic, Location, and Networks

 

Placed is excited to announce the addition of seven new partners utilizing Placed Attribution, ad to store visit, and Placed Targeting, location based audience segments.  These partners join the over 70+ advertisers, agencies, networks, platforms, and publishers using Placed to measure in-store visitation and advanced location based targeting.

 

With the addition of these new partners, Placed and its partners deliver to brands and agencies a single currency to measure store visits, available across the largest network of partners crossing programmatic, publishers, ad networks, apps, and video.

 

The industry has spoken, and they have chosen Placed as the attribution solution that delivers on scale, accuracy, consumer privacy, and is completely independent of ad sales.  By delivering a solution that is trusted by media buyers and sellers, as well as consumers, Placed Attribution is the industry standard metric for measuring store visits.

 

These new partners continue Placed’s momentum across media buyers and sellers:

 

Placed Attribution Overview

 

Placed Accelerates Push into Programmatic Attribution

DataXu, RUN, and The Trade Desk join Adelphic and StrikeAd as previously announced DSPs integrated with Placed. With the addition of these partners, Placed firmly establishes itself as the standard currency to measure the impact of programmatic advertising to store visits.

 

New network partners integrating Placed include Drawbridge, TapJoy, and Vistar Media. These partners will also have access to Placed Targeting, which enables advertisers to reach audience segments utilizing location.

 

Read the Full Announcement:  Placed Standardizes In-Store Attribution and Location Targeting Across Programmatic and Network Advertising Partners

 

Preview Placed Growing List of Partners:  Placed Partner List

 

Placed News – See What Others Are Saying About Placed:

 

Strong Start for Sprint’s “The Cut Your Bill in Half Event”

sprint_logoOn December 5th Sprint launched, “The Cut Your Bill in Half Event,” where consumers could bring a copy of their Verizon or AT&T bill to a Sprint store and their Sprint would cut their bill in half. Beyond the aggressive discounting, this promotion was unique in that it required a consumer to go into a Sprint store to complete the offer.

 

With the world’s largest opt-in location panel, Placed was able to directly measure the change in store visits to Sprint store as compared to the other wireless carriers. The results in the first two weeks were clear, this promotion is having a material impact in offline visits.

 

  • Week 1: Sprint saw the largest % increase in foot traffic across all wireless carrier stores
  • Week 2: Sprint increased foot traffic market share by almost 3% since the start of the sale

Download the White Paper, Foot Traffic Impact of Sprint’s ” The Cut Your Bill in Half Event” for additional details including corresponding TV spend.

 

Placed Partners with Dstillery to Measure Store Visits Attributable to Cross-Channel Marketing

Following up on the recently announced partnership with Dstillery, Placed is excited to release the first set of performance metrics tied to a desktop campaign for a top 5 department store in the US:

 

  • 5.32% Store Conversion Rate for Desktop Impressions
  • 33.54% Lift in Store Conversion Rate (Exposed vs Unexposed)

In a first for the industry, combining Placed Attribution and Dstillery’s CrossWalk multi-device intelligence technology, this study connects the dots between desktop campaigns and offline behavior. This solution is a significant step forward for clients and the digital advertising industry to quantify desktop impressions to real world store visits.

To learn more about the collaboration, simply reach out to your Dstillery contact, http://www.dstillery.com, or contact Placed at sales@placed.com.