Locala launches a brand new KPI – the Cost Per Incremental Visit (CPIV). Marketers will only pay for additional visits into stores generated by online campaign impressions. Brands can be sure that their drive-to-store results exclude organic visitors and are only measuring visits generated directly as a result from digital campaigns.
For digital marketers, it is imperative to attribute online media investments to real-world impacts into stores. In late 2016, Locala first introduced the CPLP (cost-per-landing-page) to charge advertisers based on incremental visits into e-shops directly from online impressions. The new CPIV KPI goes even further to boost incremental visits into real world stores for retailers and marketers. Moreover, this KPI is tailored for each advertiser based on their industry, campaign period, and existing brand awareness.
The traditional cost-per-visit (CPV) ad model is already an industry standard, however this is not a holistic indicator of digital campaign efficiency. Measuring the total number of visits into a store can include organic customers or those who may have been inclined to visit based on other channels like TV, radio, print or out-of-home. Locala’s CPIV KPI addresses this challenge by identifying and charging incremental visits generated into stores exclusively from online campaigns. Differentiating incremental visits is possible because FUSIO by Locala is the only ad tech platform with the capacity to measure and optimize visit uplifts into stores in real-time.
However, the true cost per each additional visit into physical stores can vary across advertisers and target consumers. Locala’s CPIV takes this into account with a unique machine learning algorithm in the FUSIO platform. Advertisers can choose to measure store visits from various 3rd-party independent actors already integrated into the FUSIO technology. The platform’s AI capabilities calculate and optimize campaigns in real-time by comparing between groups of exposed and non-exposed users. Ultimately, the goal is to optimize towards the best footfall uplift and analyze user behavior by adjusting high-performing parameters like targeting vicinities, creative formats, publisher lists, and device types. Locala provides each advertiser with a tailored CPIV pricing to generate store visit uplifts in the real-world or online.
“A drive-to-store strategy that can boost visits into a point of sale from an online campaign presents huge potentials for retailers to boost revenues. However, each visit comes at a price that should not be fixed across the board. For example, the true cost of an incremental visit for a fast-food chain is not the same as the visit of a potential car buyer into a dealership,” explains Christophe Collet, CEO of Locala. “Focusing on incremental visits is a revolutionary shift for marketers and will surely become the new KPI for the industry.”