LoopMe Granted First U.S. Patent for PurchaseLoop Brand's Real-Time Optimization and Industry Benchmarking Capabilities
Today is an exciting day! We are thrilled to announce that the United States Patent and Trademark Office (USPTO) has issued U.S. Patent No. 20,180,053,208A1 for LoopMe’s PurchaseLoop Brand and its unique system for collecting brand awareness and advertising campaign performance results in real-time.
The patent, LoopMe’s first to be issued in the U.S., protects PurchaseLoop Brand’s ability to adapt its system, using artificial intelligence (AI) and machine learning, in order to target advertisements to users most likely to be influenced by exposure to brand and present those results during the campaign, in real-time, for “in-flight” optimization. It also allows advertisers to monitor and benchmark performance against similar campaigns across the industry.
The current, conventional method for advertisers not using LoopMe’s newly patented technology is to run a brand campaign, and then complete measurement after the campaign has finished, using surveys to a panel. However, this approach does not enable the advertiser to change course while the campaign is in process (a.k.a. “in-flight”), and it is a major challenge to optimize campaign targeting effectively without real-time feedback. In contrast, LoopMe’s PurchaseLoop Brand runs surveys in parallel with an ad campaign to measure performance in-flight against a control group.
“We are very pleased that the USPTO views the PurchaseLoop Brand real-time optimization platform as novel and inventive, granting our first U.S. patent,” said Leonard Newnham, Chief Data Scientist at LoopMe. “The issuance of this patent is a significant milestone in real-time data optimization and campaign benchmarking. It comes at a critical time in LoopMe’s journey as we continue to unveil new PurchaseLoop Audiences and Measurement solutions to better analyze key brand sentiments.”LoopMe has an additional four patents pending. For more information on LoopMe PurchaseLoop Brand and its technologies, please contact solutions@loopme.com or visit https://loopme.com/purchaseloop/