LoopMe, the AI-driven mobile advertising platform, announced a partnership with Commerce Signals, which connects marketers with near real-time insights from payment transaction data. The partnership will enable brands to close the advertising feedback loop and optimize mobile advertising campaigns to sales in-flight, using self-learning artificial intelligence systems and near real-time purchase data.
Stephen Upstone, CEO of LoopMe, discusses this partnership and its implications.
Why are marketers still so reliant on CTR, if in fact there is little correlation with sales?
Marketers are relying on CTR to evaluate digital campaigns because this is a metric that they can see and track very easily. Marketers rightly or wrongly, think that more clicks lead to more purchases but these are just proxy metrics.
Marketers should measure their advertising campaigns by the metrics that actually matter – awareness, purchase intent and ultimately, sales.
How does this solution help marketers reach the modern US consumer?
The average US consumer spends over 3 hours per day on mobile (214 minutes) per day. This outstrips time spent on desktop, print, radio, and is set to outpace TV time by 2019.
We know that consumers prefer relevant ads, and this should be done through compelling creative and effective delivery.
Currently, if a consumer goes into store and purchases a product, marketers are unable to measure the impact of their mobile advertising in influencing it. With this partnership, brands can now optimize their mobile advertising campaigns in-flight, using AI and real-time purchase data.
How can marketers ensure the right balance between content and delivery in advertising, when aiming to drive sales?
First and foremost, think about the device. Our research found that US consumers are willing to watch a video ad for 18 seconds on mobile, 24 seconds on desktop, and 31 seconds on TV, showing how marketers should look to adapt their creative for different devices.
When it comes to delivery, let data be your guiding light. Working with a data-driven partner gives the opportunity to find the engaged audience.
Which other factors does PurchaseLoop draw on to identify which impressions will drive sales? How do these factors train the AI?
PurchaseLoop uses dozens of data points to understand more about each consumer and which ads will resonate with them and drive sales.
This includes data from the ad request (time of day, app / mobile web, connection, current location, device make & model), historic user data (behavioral history, demographic, location history, ad history, education) as well as 3rd party data integrations.
In this instance, using sales data from Commerce Signals passed back continuously, LoopMe creates a bespoke predictive AI model that identifies consumers who are most likely to complete a purchase, driving sales and ROI on every impression.
Stephen Upstone is CEO of LoopMe, a mobile data, AI and video advertising platform. Stephen co-founded LoopMe in 2012, with the aim of using AI and mobile data to close the client feedback loop and transform brand advertising. He has over 15 years’ experience in artificial intelligence and mobile advertising, having held senior positions at Touch Clarity and Velti.