July 24, 2018 / by Elle Panes
We’re pleased to announce our partnership with Commerce Signals, which connects marketers with near real-time insights from payment transaction data. Read more on this exciting news in eContent and MarTech Today.
This partnership will enable brands to close the advertising feedback loop and optimize mobile advertising campaigns to sales in-flight, using self-learning artificial intelligence systems and near real-time purchase data.
This is significant as research from the CMO council shows that while 78% of CMOs are held accountable for brand metrics such as sales, digital campaign success is still being measured by CTR (56%), engagement (35%) and completed views (31%). Campaigns are optimized toward these metrics as a result.
“Much of marketing measurement is completely out of touch with business growth” says Greg Stuart, CEO of the Mobile Marketing Association. “While CTR is the most used KPI for brands our studies show that in many cases it has ZERO correlation to sales. The market must innovate in measurement if advertisers are going to get the most out of their investments in mobile advertising and other channels. The move by LoopMe and Commerce Signals is an important step in the right direction.”
PurchaseLoop Sales Optimization promises to drive incremental purchases for a new era in advertising, signalling an end of optimization toward digital proxy metrics, while going a step further than attribution. PurchaseLoop uses AI to optimize advertising in-flight, toward impressions identified as the most effective at generating an in-store or online purchase, with campaign results verified by Commerce Signals.
PurchaseLoop has been shown to increase foot traffic in-store by 17%, while brand uplift averages a 6X increase against traditional advertising optimization. Brands embracing the new technology include Microsoft, Western Union, Audi and Samsung.
Stephen Upstone, LoopMe CEO commented ‘We don’t believe that clicks and views should be the primary measure of success or optimization driver in digital. This led us to developing PurchaseLoop for Brand Uplift, Foot Traffic and now Sales, recognizing that marketers should demand more from their advertising. I’m excited that we’re working with Commerce Signals to drive real attribution and optimization for marketing.’
Tom Noyes, CEO of Commerce Signals added ‘We are thrilled to be working with LoopMe to prove digital video’s impact in driving incremental sales for retailers. With programmatic display, we’ve already proven that a major U.S. retailer can more than double their ROAS by optimizing with Commerce Signals rather than click through rate’.
Reach out to your local sales rep or contact [email protected] for further info.