Millennial Media has partnered with Placed and Neustar in assisting advertisers to measure the impact of mobile marketing on foot traffic and spend at retail outlets.
The mobile ad network wants to enhance campaign measurement through the integration of third party location and credit card data. It comes after the Jumptap acquisition and the launch of a mobile ad exchange with App Nexus.
This is based on the premise that mobile influences purchases or engagement on numerous ways such as upper funnel behavior that resonates in other areas.
You can only get a one-way dimensional view of the influence of mobile using one-click attribution for direct response and employing other current models in use today.
Millennial Media’s omni measurement solution features measurement rates for door opens, register rings and brand lift. Together with its partner, the firm will get purchasing data from the credit card information in the custody of Neustar including in-store location data from Placed.
Omni measurement is a platform-based project developed to overcome the challenges of full form attribution while understanding the role of mobile marketing in the real world.
Millennial Media is thus the first company to track spend lift using credit card data even though the data from Neustar and Placid is not exclusive to it.
Millennial has a bigger scale giving it a higher absolute match rate with these third parties. This results in a bigger sample for statistical modeling. Conversely, media measurement is actually statistical modeling. This is what gives the company an advantage over the competition. Moreover, this does not mean the development of a business using one approach. It involves marketing to various partners with an additional number to follow. As such, this new approach to measuring mobile impact on retail traffic and spend is a welcome addition to advertising as it provides accurate data regarding the rate of response and sales revenue.
There are many firms that are expected to adopt this new method of gathering information and data that will improve marketing strategies online resulting in a more focused approach.