There’s nothing like the challenge of figuring out your customers’ preferences and using them in your advertising tactics to better reach and resonate with them. Gaining a deeper understanding of what drives foot traffic to your businesses will make all the difference in this area — here is where foot-traffic attribution, as an extension of ad attribution, comes into play and may make or break your campaigns.
Despite the importance of customized experiences to consumers, retailers spend less than 1% of their revenue on customization, while best-in-class retailers spend 30% more. This is important for organizations trying to get on board with marketing attribution because it hasn’t been fully exploited by their competitors yet.
Foot-traffic attribution substitutes ineffective techniques (such as post-purchase surveys, in-store questionnaires, and so on) with facts and research that indicate how an ad influenced your target. By backing your results with clearly real facts, this invention takes the uncertainty out of advertisements.
Companies’ foot-traffic attribution technology uses GPS services to track users who have watched your CTV ad on a gadget before shopping at your physical location. This provides you insight into the actual impact of your commercials on viewers, without the basic questions of who walks into your store by accident without seeing the advertisement and who was inspired to visit because your ad was successful.
To give you an idea of what a foot-traffic attribution tool can achieve for your business, consider the following:
Not only are OTT/CTV platforms ideal for reaching the majority of your target audience, but creating an omnichannel experience guarantees that your customers’ interactions with your brand are easy, consistent, and positive across all touchpoints. Then, by assessing ad successes and failures, attribution ties it all together to influence future efforts. They’re all linked together to let you better recognize and evaluate the performance of your adverts so you can make adjustments.
Track legal GPS data on your target audience’s devices to see when they visit your brick-and-mortar location after seeing the ad. This offers you a better idea of who and how many people were influenced to take action by your advertisement.
It’s time to tweak your campaign once you have a better idea of how much foot traffic your ad is generating. This can take the shape of better targeting, multichannel follow-ups, or even better ads. In either case, the data you collect will provide you with the knowledge you need to ensure that future advertising is more customized to your target audience.