TruFactor performed an attribution study to analyze exposed traffic to multiple billboards in the Lansing, MI area. The objective of this study was to determine what effect the outdoor media had on in-store visits for a leading regional coffee chain.
TruFactor examined a single board over a day period to gain a deeper understanding of daily impressions, board lift and attribution for the closest proximity store location. For this board, we tracked the proportion of visits pre-campaign and during the trial to determine how the advertisement drove attribution to the coffee location. The biggest lift in store visits occurred within the first hour post-exposure, which is to be expected as these are consumers who are engaging the advertisement and immediately visiting the store. When analyzing in-store traffic, the observed board drove a 17.3% lift in customers when comparing footfall traffic pre-campaign and during the trial.
An associated purchase or dollar amount can be utilized to extrapolate the overall value of the ad placement. When applying an appropriate basket and account for known variables (holidays, seasonality, brand sentiment, strength of offer, creative & messaging), the yearly value of the board to the store can be estimated at $280,265. This is a conservative estimate, as it does not include consumer factors (basket size, average number of occupants per car, etc.) that can dramatically increase ad-driven revenue. Utilizing this data, true ROI can be determined by measuring this value against board investment.
Attribution for the entirety of the campaign was consistent with the lift seen at the store location. TruFactor saw an 18% lift in total visits for individuals in the 30 days following exposure to the board. There was a 10% increase in the total number of unique individuals who visited chain locations during the campaign period. Utilizing mobile insights, verified demographics and psychographic persona profiles can be applied to these consumers, allowing operators and advertisers to actively align board placements for greater success and ROI.