ONLINE CONVERSIONS ARE ONLY HALF OF THE STORY
While people use mobile in 45% of all shopping journeys, the majority of sales still happen in brick-and-mortar businesses. In fact, more than 90% of retail sales take place in-store.
And stores remain consumers’ preferred shopping channel for many goods and most services...
Stores are also preferred by many consumers. Over half of millennials (especially younger ones, ages 20-23) prefer shopping in physical stores to shopping online.
If you’re only considering online activity, you’ve got an incomplete understanding of your customers’ journey.
Additionally, over 80 percent of online ad effect is on offline sales. A recent Yahoo! Study with a national apparel retailer found that 84 percent of the sales increase from online ads came from offline sales.
In other words, if offline sales are not considered, your online spend is significantly devalued.
OFFLINE CONVERSIONS HELP CLOSE THE LOOP
Closed-loop measurement helps you understand the full value of your media investment and optimize accordingly.
- Gain a more complete understanding of your customers’ behavior.
- Identify insights to influence and optimize your marketing and advertising.
- Effectively measure the long-term impact of campaigns to show a clear return on investment.
That's why marketers rely on location data for holistic measurement.
→ Click here to learn how Factual's Geopulse Data for Measurement can help you capitalize on the power of high-quality location to improve your measurement initiatives.
Sources (in order of appearance): Facebook IQ, February 2016; U.S. Census Bureau, Q1 2016; Retail Dive Consumer Survey, fielded by Google Survey; The Millennial Shopping Report, CouponFollow, Summer 2017; BIA/Kelsey; eMarketer, Location Intelligence, H2 2016