Independent Study Reveals Total Economic Impact of InMarket's Lift Conversion Index (LCI) Attribution Solution
AUSTIN, Texas, July 27, 2021 /PRNewswire/ -- InMarket, the leader in 360-degree consumer intelligence and real-time activation, today released a Total Economic Impact™ (TEI) study of its Lift Conversion Index (LCI) Attribution solution conducted by Forrester Consulting, part of a leading global research and advisory firm. The TEI study revealed LCI's significant impact on campaigns, through improvement of in-store visits, return on advertising spend (ROAS), campaign optimization and efficiency.
The commissioned study revealed that InMarket's LCI can create a $40 ROAS related to incremental store visits from optimizing with LCI, improved repeat store visits by 25% and saved 1,800 internal person hours annually. This adds up to a net present value (NPV) of $11.16M over three years and a 180% overall Return-on-Investment (ROI). Additionally, with visibility into the connection between media spend and in-store shopping, InMarket LCI customers can save approximately $1.8M over three years by optimizing their media mix to prioritize digital channels.
The study also highlights additional unquantified benefits including an improved understanding of media value, channel experimentation, adaptation and resilience in times of intense change - like the ability to adapt to changing consumer behaviors quickly during COVID-19.
"We're thrilled with how the Forrester study brings to life this in-depth look at how brands can improve customer experience and increase incremental store visits through attribution and optimization," said ToddDipaola, Founder and CEO of InMarket. "InMarket is continually dedicated to providing marketers with the tools needed to directly connect media strategy with in-store and online sales – and further their ability to drive engagement, return on advertising spend and overall lifetime value to grow their company's success ."
The TEI study takes a deep dive into InMarket's location-and context-based attribution and measurement solution to assess its financial impact on organizations, across cost, benefit flexibility, and risk factors. By conducting interviews and examining case studies of InMarket's capabilities across campaigns with a quick-service restaurant, department store, global home improvement brand, and a national grocery brand, Forrester combined these experiences into a single composite organization to determine impact.
"We really wanted to understand the true value of our media from exposure to sales," said a Vice President of Digital Marketing and Loyalty at a grocery retailer interviewed for the study; "Having foot traffic measurement from LCI helped us really measure that true impact of a person seeing our ad and then us seeing them in the store."
InMarket's LCI offers a 360-degree view of consumers' and a campaign's true impact on both in-store and online sales, allowing marketers to measure and optimize campaigns through every step of the purchase process. To download the report visit https://go.inmarket.com/forrester-tei-report. For more information on LCI, please visit https://inmarket.com/attribution/.
InMarket, which has taken no outside financing, holds more than 27 patents across location, attribution and digital marketing, and its GeoLink platform was awarded Best Location Platform at the 2020 Digiday Technology Awards. Its nationwide team is united across more than 20 states. For more information, visit www.inmarket.com.
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