NEW YORK–(BUSINESS WIRE)–GroundTruth, the leading global technology platform driving offline visits and sales by leveraging location as the primary source of intent, today announced a new suite of performance-based pricing models called â€˜True Performanceâ€™ that will allow advertisers to pay only for results or actions that precisely meet their business objective. The performance-based buying suite includes GroundTruthâ€™s highly popular Cost Per Visit (CPV) model and a first-of-its-kind pricing model for driving product sales, specifically geared toward CPG brands looking to better measure their location-based marketing efforts.
â€œThe digital industry is concerned about fraud and brands are demanding a more simplified buying process. With â€˜True Performanceâ€™ weâ€™re helping our partners better measure whether their ads are driving an offline impact,â€� said Eric Hadley, CMO, GroundTruth. â€œWhile many companies offer the ability to tailor campaigns towards Cost Per Action (CPA) or offline performance goals such as visits or sales, no other company offers the ability to commit to these outcomesâ€”until now.â€�
The â€˜True Performanceâ€™ Suite is a culmination of a long evolution for GroundTruth, starting with its location verification algorithm and Blueprintsâ„¢ technology, which ensures that every verified mobile signal received on its platform is mapped back to a precise location. In the last two years, GroundTruth has focused on scaling both sets of quality location data (mobile signals and precise points of interest) that is unmatched by its peers, currently seeing over 2 billion visits a monthâ€”an 80X increase since 2016.
Adds Hadley: â€œOnly once our company achieved a level of expertise and scale that was sophisticated enough to truly understand consumer behavior, did we feel confident enough to offer a performance buying suite.â€�
Iwona Alter, Vice President and CMO, Jack in the Box commented: â€œOne of the biggest challenges in digital marketing has been the ability to tie investment directly with real business outcomes. When someone enters our restaurant, we know they are going to make a purchase, so the main priority is to simply drive those visits. This model allows us for the first time to verify the efficiency of this process.â€�
Steve Katelman, EVP, Global Strategic Partnerships, Digital, OmnicomMediaGroup added: â€œWe often talk about the promise of technology with our clients. I think this is one of the great examples of that promise being realized. Location has given way to better targeting and measurement. Now, weâ€™re able to add another element to more efficient buying.â€�
â€œThe key to Cost Per Visit is its simplicity,â€� said Huw Griffiths, Global Chief Product Officer, UM. â€œWith better measurement tied to tangible results, it has the potential to truly deliver for brands.â€�
The suite of performance-based pricing model includes:
- Sales: SKU-level sales for CPG
- A Return on Ad Spend buying model where advertisers only pay for additional product sales generated by the campaign, as measured by top measurement providers, including but not limited to IRI, Kantar Worldpanel, Nielsen Catalina Solutions, and RSIâ€™s Ansa automated analytics solution.
- Store Visits: Cost Per Visit
GroundTruth is the leading global technology platform driving in-store visits and sales by leveraging location as the primary source of intent. We believe in the power of place. Build your brand, increase sales and grow your business by building off what real people are doing in the real world, mapped using our proprietary Blueprints technology. Through its data foundation, GroundTruth sees 2 out 3 smartphone users in the U.S. and more than 30 billion physical visits annually across 21 countries globally. Learn more: www.groundtruth.com
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