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Commerce Signals and PlaceIQ make offline sales into online optimization tool
Data will help marketers understand which campaigns are delivering in-store sales most efficiently, at the lowest cost.
Commerce Signals announced a new product called “Databridge,” which provides marketers access to in-store purchase data from Visa Advertising Solutions. Now they can get visibility into which of their campaigns are driving in-store purchases in as little as 72 hours.
This, in turn, allows for in-flight campaign optimization based on actual sales. It also offers a range of insights that will help marketers do better subsequent media planning. PlaceIQ is the initial partner utilizing this data, which it combines with store visits.
Among others, PlaceIQ has been using location/store visits to identify and segment audiences, as well as provide attribution for both digital and traditional media campaigns. Store sales data goes one step beyond this to show the tactics, channels or campaigns that actually motivate buying behavior.
PlaceIQ’s EVP, Nadya Kohl, said that the company isn’t replacing its store visits metrics with transactions. She said, however, that transactions represent the “next generation” of attribution data. There are also corresponding audience insights; for example, which groups or types of individuals saw the campaign and purchased?