An Out-of-Home Advertising Industry First: AdQuick.com Announces Performance-based OOH Advertising – Cost Per Engagement (CPE) Model
CPE Advertising Model with No Upfront Cost, Allows Brands to Pay Based on Customer Engagement, Moving OOH Industry Beyond Just Branding
AdQuick.com, the first platform to allow marketers and agencies to complete the entire process of planning, buying, executing and measuring out of home (OOH) advertising campaigns anywhere in the US, announced the immediate availability of its new Performance Based Marketing service. Lending from the CPE model in digital advertising, this hassle free, no upfront payment model by AdQuick is a first of its kind for the OOH industry.
“We are constantly looking for ways to make OOH campaigns more transparent and analytical for our customers as opposed to simply hoping for the best in terms of what impact it makes to a brand’s sales,” said Matthew O’Connor, AdQuick co-founder and CEO. “We believe this is a fantastic offering in particular for brands that have a broad customer base and geographic capability such as apps, e-commerce, food/beverage, clothing or insurance.”
Brands can now have a pre-negotiated cost pay-per-engagement for their OOH campaigns. For example, if a customer agrees to pay $20 per engagement with an OOH unit, they pay per person who engages with the SMS code. The service eliminates any upfront risk for brands, and allows an opportunity for brands to test OOH as an acquisition channel in a completely transparent and cost effective method. Whether a brand wants to send a link directly to their website or offer a discount code their messaging can be completely customized to determine what’s working effectively or adjusted mid campaign accordingly.
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The process is straightforward with an initial assessment regarding the feasibility based on parameters like geography, price per engagement, call to action, and the product being promoted. By combining select criteria such as reach, call to action value, duration of campaign and cost per engagement, AdQuick’s algorithm determines the feasibility of a performance campaign, optimal geography and media types to place the campaign. AdQuick then executes the spend based on available inventory, and customers pay only as engagements are achieved.
Ritual, the popular social ordering food app, recently completed a successful six-week SMS campaign in downtown Los Angeles via AdQuick’s Performance Based Marketing service. Looking to drive more downloads with different outdoor advertising platforms they chose street benches to offer a $20 welcome credit for food and drinks in nearby neighborhoods. Other successful direct response campaign examples include gym memberships and subscription delivery examples.
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“AdQuick’s performance program has been an excellent tool for our out of home exploration and experimentation,” said Maxx Freedman, West Coast General Manager for Ritual, a beta tester for this new model. “As a results based and data-oriented team, real-time access via the dashboard feature to our campaign allows us to track the campaign results and make adjustments to our SMS responses accordingly. As primarily digital marketers, this model transfers very well to OOH. Not having to pay upfront made it a no-brainer to experiment with and we’re delighted with what we have seen to date.”
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