First-to-Market Offering Drives Destination Visitation; Showcases Economic Impact of Digital Advertising Campaign
AdTheorent, Inc., a digital advertising leader using advanced machine learning technology and solutions to deliver real-world value for advertisers, announced the launch of Destination 360°, a new offering created for Destination Marketing Organizations (DMOs). AdTheorent’s machine learning-powered solution is a first-to-market product designed to drive and measure visitation to a destination as well as in-market transactions within that destination.
How it Works
To identify and reach consumers who are most likely to visit and transact in a destination, AdTheorent’s data science team builds and deploys custom machine learning models. In addition to the custom models AdTheorent also uses a blend of transaction-based tourism audiences based on anonymized third party spend data (frequent air or leisure travelers, hotel spenders, etc.) and brand-specific parameters (past travelers, travelers on popular flight routes, etc.) as well as geo-location targeting parameters. From there, AdTheorent’s predictive targeting adds precision and drives results by reaching consumers within that intended audience who are most likely to visit the destination. To determine campaign impact on destination visitation, AdTheorent conducts a Visitation Measurement Study. In addition, utilizing $3T of anonymized purchase data, AdTheorent is able to measure the campaign impact on in-market visitor spend by category, such as retail, travel, restaurants, and entertainment.
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“The proliferation of data signals coupled with advancements in machine learning technology have enabled AdTheorent to build technology, products and solutions which move beyond traditional advertising KPIs to KPIs centered around specific business outcomes for brands, such as visitation,” said Jim Lawson, CEO of AdTheorent. “Destination 360° is a breakthrough offering for DMO’s because, for the first time, in addition to tying advertising investment back to visitation, AdTheorent can measure in-market transactions that occur due to ad exposure. This provides a much more comprehensive view of a given campaign’s impact on a destination.”
A Real-Life Success Story: Driving In-Market Sales for a Destination Marketing Organization
The Tourism Board for a major market sought to increase overall visitor arrivals and in-market spend. The Board partnered with AdTheorent to leverage machine learning models to drive visitation and in-market commerce.
AdTheorent Solution: Destination 360°
AdTheorent created custom machine learning models that identified potential travelers with the highest likelihood of visiting the destination. AdTheorent also geo-targeted key outer markets to prospect new travelers. AdTheorent models continuously optimized throughout the campaign to reach travelers likely to visit and increase in-market spend. To demonstrate the campaign’s market impact, AdTheorent utilized $3T of transaction data to measure in-store sales in the market that were attributed to the campaign.
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AdTheorent delivered a 54X return on ad spend. Exposure to the campaign resulted in:
- 4,833 total purchases
- 10.9 transactions per purchases with a $45.82 average purchase size
- $2.4M in total attributable sales