Michael Boland’s latest article on mobile attribution traces the evolution of mobile advertising as it ties into real-world foot traffic and purchase behavior. Because 93% of U.S. retail spending happens offline, advertisers have an urgent desire to understand how their mobile marketing dollars translate to actual store visits and purchases. Boland highlights how the focus has now shifted to location data analysis since other efforts to “close the loop”, like mobile payments, have a slower evolution due to fragmentation in the market.
This is why we created the Location Conversion Index, the industry’s first mobile ROI metric that measures the actual increase in store visits as the result of a specific mobile campaign (instead of simply comparing foot traffic before and during a campaign. In addition, LCI is the most accurate measurement of mobile ROI in the market because it factors out any store visits that may have occurred because of seasonality, or because the person is a regular customer who would have visited the store anyway, or because of other marketing efforts running in tandem across other mediums. LCI is the only mobile ROI measurement that considers how other factors affect store traffic and thus is never inflated, as Boland comments is the problem with other industry solutions.