New Placed Research: Millennials and Auto Shopping

Driving Millennial Shoppers into Car Dealerships

 

The time has come—Millennials are ready for car ownership. They’re past their college years, getting married, earning good salaries, and considering moves outside of urban areas. If you’re an automotive marketer and still think of Millennials as teens who only use ride-sharing services, this Placed Research report is for you.

 

Millennials are actively shopping for vehicles, and using ride-sharing apps as a supplement to car ownership

By integrating Placed’s large-scale business visitation data with 1st-party automotive shopping surveys, we validated that Millennials are shopping at dealerships and taking test drives.

  • Millennials account for 1 in every 5 visits to dealerships.
  • 1 in 3 Millennial dealership visits is a shopping visit.
  • Millennial auto shopping visits over-index for Lyft and Uber app installs.

Although Millennials are ready to buy cars, the study also shows that Millennials shop differently. Fortunately, their real-world behavior—day of the week, time of day, business affinities—follows consistent patterns that can be used for optimizing marketing programs and ad campaigns to drive more Millennials to shop and test drive at dealerships.

Learn more by downloading the report or by contacting sales@placed.com.

Pandora Hits Milestone:100 Brands Measured with Placed Partnership

This week, Pandora and Placed hit a major milestone – since launching the partnership in early 2014, 100 of the world’s leading consumer brands have run Pandora campaigns with offline attribution provided by Placed. As Pandora’s Preferred Partner for offline attribution, Placed has measured 400+ campaigns for Pandora, and has attributed more than 60 million incremental offline store visits to campaigns running advertising across Pandora’s streaming music service.

 

“It’s exciting to hit this milestone in the partnership between Pandora and Placed,” commented Jim Watson, Placed Senior Vice President, Strategy. “Pandora is focused on driving true value for their advertising clients as we’ve seen with their ability to drive double-digit lift in store traffic for Lane Bryant and an incremental $110 million in revenue for the Las Vegas Convention and Visitors Authority.”

 

“Pandora’s clients require demonstrable results from their campaigns, and Placed is the preferred partner they trust to measure their campaigns.” added Keri Degroote, Head of Sales Research & Analytics at Pandora. “Placed’s industry leading attribution methodology provides the objective results required by our clients and is able to handle the scale of campaigns running across our platform.”

 

With advertisers ranging from restaurants to tourism to retail, Pandora campaigns deliver real business results for brands – 20% more likely to drive incremental visits than the Placed industry benchmark.

Placed-Pandora-09052018

 

TV Advertising Benchmark Metrics: Infographic from Placed Attribution

Following-up on our recent announcement of a free preview period, here is an infographic that is easy to read and share!

 

Placed Attribution for TV has campaign-level reports for 100 top brands. For a high-level view, we analyzed all the Q12018 campaigns — $3.7B in TV ad spend. The highlights:

 

35% of TV Campaigns Drive Incremental Visits to Businesses
It’s time for a conversion metric for TV. After viewing ads, consumers are taking action in the real-world.

 

Peak Time to Store Visit for Restaurants, Telecom, and Auto
Not all attribution benchmarks are the same — remember to dig down to the industry level.

 

Top Performing TV Networks for Lift in Incremental Visits
Across all campaigns, we identified the top five for driving incremental visits.

 

We hope you enjoy the infographic below (click to enlarge). To learn more about Placed Attribution for TV before the open-access preview period ends on June 29th, visit placed.com/tv and open a free account.

 

Placed TV Ad Benchmarks Infographic Q12018

Placed Open-Sources Location Analytics Platform

Ability to Measure Store Visits Across Nearly 2,000 Businesses Now Freely Available through Placed Insights

 

Placed is making its location analytics platform, Placed Insights, available to the public at no cost. Launched in 2013, and utilized by hundreds of users across various industries including brick and mortar retail and restaurants, Placed Insights maps the real-world relationships between people and places.

 

“In the same way that Zillow’s Zestimate brought home value analytics to the masses, this evolution of Placed Insights will do the same for location analytics,” said David Shim, Founder and CEO at Placed. “We see very high demand for location analytics, yet adoption has been tempered by accessibility and cost to access an accurate and robust data set. Placed is taking the unprecedented step of education and investment in the industry by making location analytics available to all at no cost.”

 

Powered by 800 billion raw locations, 2.8 billion directly measured visits, and 94 million audited visits, Placed Insights to date has been a premium and paid service. With the announcement today, Placed is removing those barriers around Placed Insights, and open-sourcing access to one of the largest and most robust location analytics solutions in-market. Accessing Placed Insights is as simple as visiting placed.com, and entering any one of 1,900 businesses to garner robust location insights at no cost.

 

“When it comes to understanding the offline behavior of consumers, Placed is one of Taco Bell’s trusted partner,” said Lynn Hemans, Senior Director of Business and Social Intelligence. “Since partnering in 2016, Placed has been able to provide location analytics at a scale and accuracy that allows Taco Bell to take action against the data. In the past year, using Placed Attribution and Insights, Taco Bell has been able to deliver and optimize communication across media channels based on visitation.”

 

“Placed is a preferred location analytics and in-store attribution partner because of the scale of their privacy-compliant audience and the insights we uncover through their insights dashboard and cross-platform measurement solutions,” said Michele Siravo, VP, Managing Director, WHERE, at Horizon Media, Inc. “Access to Placed Insights has enabled us to enrich our strategic planning with location data – their foot traffic statistics are among a number of KPIs we ingest into Horizon’s proprietary data-driven integrated marketing platform, InfuseSM. Placed’s bold decision to open up its platform is an exciting opportunity for brands and agencies to gain a deeper understanding of their customers.”

 

The open-sourced version of Placed Insights will update on a monthly basis starting with January 2018. Insights generated from the platform include:

 

  • The Most Popular Businesses in the US
    • Walmart (2.43% of all visits), McDonalds (1.73%), Starbucks (1.11%), Walgreens (1.01%), Subway (0.85%), CVS (0.75%), 7-Eleven (0.73%), Target (0.66%), Dollar Tree (0.63%), Dollar General (0.59%)
  • When One Door Closes, Another Opens in Retail
    • Winn-Dixie Set to Close 200 Stores: Publix, Walmart, Albertsons and Tom Thumb set gains in visits
    • Stein Mart Exploring Strategic Alternatives: Kohl’s, Ross, Old Navy, Marshalls, and Macy’s see high overlaps
  • Whole Lot of Customers: Free 2 Hour Delivery from Whole Foods
    • 25% of Whole Foods customers travel over 13 miles to nearest store (9% further out than other grocery stores)
  • Bits and Mortars – Real-World Businesses Visited by Bitcoin Owners 
    • Auto: Hyundai (2.3x), Nissan (2.0x), BMW (1.2x)
    • Restaurant: California Pizza Kitchen (2.5x), Hooters (1.6x), Outback (1.5x)
    • Retail: Apple (1.8x), Whole Foods (1.5x), Trader Joe’s (1.3x)
  • Netflix and Chili’s – Restaurants Most Frequented by Netflix Subscribers
    • In-N-Out (31% higher visits), Chili’s (21%), Panda Express (19%), Jimmy John (13%), Chipotle (10%)

Open access to Placed Insights is available today at https://www.placed.com (no registration). To access more in-depth insights including audience profiles create a free account.

 

In addition to Placed Insights (Public, and Premium), Placed’s suite of products include Attribution, measuring the impact of ads on store visits, and Audience, enabling activation based on offline consumer behaviors.

 

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