By Adam R Jacobson
RBR + TVBR
Last week, media industry business software solutions provider Marketron revealed that it has struck a strategic partnership with location intelligence company Cuebiq for use of its real-time foot traffic attribution offering.
What exactly does this mean for radio and television stations?
Martin Kristiseter, SVP/Digital of Idaho-based Marketron, tells the RBR + TVBR WEEKLY TECH ROUNDUP that the foot traffic tool, VisitQ Real Time, gives broadcast media — and their small- and mid-sized business clients — a true gauge of how digital advertisements can translate to additional sales.
“One hundred percent of all growth, big and small, comes from digital advertising,” Kristiseter says. “Every issue we hear from every one of our group partners is if any of the digital advertising really works.”
Kristiseter, of course, says it does; it can track that a digitally distributed ad has sent ‘X’ amount of customers to a business, and that it helps keep a retailer’s churn rate low.
But, how does this technology work?
Kristiseter asks that one think of a Nielsen panel. Then, expand that number of respondents to roughly 60 million digitally connected individuals.
Yes. We said 60 million. This is made possible thanks to a “small sliver” of code in their software development kit (SDK) that gives marketers access to where you are.
“As long as you downloaded an app, your handset will receive the served ad,” Kristiseter notes.
But, isn’t that a bit Big Brother and a question of privacy? Nope. That was waived when one agrees to that lengthy Terms of Service Agreement — “that thing you probably never read,”Kristiseter quips.
Truth be told, the use of just about any smartphone App allows for the sharing of location services data to third-party companies, unless one limits this within one’s handset settings.
For a radio or television station’s advertising partners, this presents a digital solution that can be independent — or intricately tied to — a marketing campaign that brings maximum ROI and metrics that require no guess work.
Kristiseter says this presents positives for not only small- and mid-sized business, but also the media used to promote their business.
“The biggest takeaway is that you can prove that your advertisement sent people in to a retailer, and that it resulted in a purchase,” he notes.
Among the clients using the technology are Subway restaurants. The biggest client on the TV side is Sinclair Broadcast Group. On the radio side, Entravision, Cumulus Media and Radio One are already heavy users of the Marketron offering.
Kristiseter says, “It brings transparency and visibility at the local level.”
Auto dealers and brick-and-mortar retailers are the best types of businesses that can benefit from the tool, he adds.
With all growth coming in the digital realm, Kristiseter also tells the RBR + TVBR WEEKLY TECH ROUNDUP that it is in beta with the three radio groups it has clients on a digital proposal template, which would eliminate “the duct-taped solutions from all sorts of different vendors.”
The proposal templates are set for a Q1 2017 launch, he says, and incorporates Nielsen, Tapscan and digital products used in sales departments that makes it easier for a digital buy to come to fruition.
RBR + TVBR