GroundTruth: ‘8 out of 10’ Brands Are Saying Yes to Cost-per-Visit
August 8, 2017 | Contributed by: Greg Sterling
In March GroundTruth (formerly xAd), introduced a new Cost Per Visit model (CPV) that charges marketers only when people come into their stores or business locations. Other companies have launched similar programs that are tied to sales or offline visits (Empyr, Blis and Retale).
Placed, which was acquired by Snapchat parent Snap, is the verification partner for GroundTruth and also works with Retale.
Earlier today GroundTruth released some “momentum” data, which shows high demand for the CPV model. The company said that 80% of the brands presented with the idea had a positive response and had initiated or committed to campaigns. The company added that it has “over 100 active campaigns” projected for the fourth quarter this year. GroundTruth’s Pricing is variable depending on the brand and the campaign.
Bloomin’ Brands is the customer cited in the release. In addition, GroundTruth reported on the results of a test campaign for a “national fast casual restaurant chain” (not clear if that’s also Bloomin’ Brands) in which it was able to generate “1000 observed visits to its locations, of which 85% were from new customers converted from competitive restaurant loyalists in the area.”
GroundTruth says, “The campaign was so successful, the brand has since scaled Cost Per Visit into 81 top tier markets, driving over 100,000 visits to date and moving to a national, always-on strategy.” This is important because the question of market acceptance is the key question here, now that the attribution problem has largely been solved (location analytics).
At The Place Conference in New York (9/18), we’ll convene a panel on CPV, featuring GroundTruth, Placed, Ansira and Retale. They’ll be discussing market demand for the model, whether it will truly take hold and its implications for other digital ad models. It should be one of the highlights of the event and relevant to everyone reading this.
That’s because if CPV does take hold it will have competitive implications for everyone, Google, Facebook, local media publishers and everyone selling traffic and leads to SMBs. Media publishers who are coming to The Place Conference may attend a free invitation-only workshop with GroundTruth that will unpack and elaborate on CPV and location intelligence more generally. Stay tuned for more.