Webinar: Finding a Simpler Way to Track Online-to-Offline Conversions
May 23, 2016 | Contributed by: Greg Sterling
Most enterprises and small businesses sell the vast majority of their products and services locally. Whereas e-commerce represents several hundred billion dollars in annual sales (and growing) it’s still only a small fraction of offline commerce, which is in the many trillions.
The overwhelming majority of consumer spending happens within a short distance of home or work. But the internet influences a growing percentage of this offline spending. Various surveys and estimates show that upwards of 80% of consumers look online for information (PC and mobile) before spending locally. Yet most of these online-to-offline transactions go undocumented.
Calls, map or store lookups have historically een used as proxies for offline actions in some situations. But now brands and enterprises are able to utilize mobile marketing platforms, such as xAd, NinthDecimal, Verve, PlaceIQ, YP, Google, Facebook, Factual, Foursquare, Placed, UberMedia, Thinknear, Blis, Yext and others, to track mobile users as they move around the real world and enter stores.
The challenge is that some of these methods require significant scale or technology and may be expensive for many smaller-budget marketers. Accordingly, because of a lack of awareness, inertia or cost, most marketers are not using these new O2O methods.
If you’re in one of these categories, you should tune-in this Thursday at 2 Eastern/11 Pacific to the next LSA webinar. SweetIQ’s Michael Mire will present an alternative, simpler methodology for tracking offline actions and real-world ROI. Sign up here.