LoopMe, which optimizes media based on artificial intelligence, has teamed up with Numerator, which supports shopper panel data on about 450,000 people, to help marketers understand purchase behavior that can increase offline sales beyond loyalty card data.
Numerator’s data is sourced from retail purchase receipts. Through the relationship, Numerator’s data feeds into LoopMe’s platform to update the company’s optimization algorithms and sharpen targeting in real-time.
It’s based on the consumer’s likelihood to make a purchase, explains Dan Lapinski, senior director of platforms and partnerships at LoopMe.
“The optimization occurs on every ad request,” and then delivers propensity scores to determine the likelihood of a consumer seeing an ad before going to a store to make a purchase, he said.
Until now, Numerator clients have only conducted manual analyses and made broad targeting changes such as switching creative or shifting from men to women.
The collaboration was designed to provide traditional retailers with access to consumer purchases to drive media optimization recommendations. The predictive modeling is updated about once weekly, when the company gets a data dump from partners.
The partnership solves a major gap when it comes to optimization in real-time. "Clients didn't want to wait until a campaign was over to understand if it worked," Lapinski said.
LoopMe’s technology, which supports many of the major advertising agencies, can continuously refocus campaigns in real-time based on ad format; consumer purchase behavior, location, time, and audience age, gender, income, and ethnicity. The shifts are done in Nanoseconds, Lapinski said.
For instance, targeting can focus on audience segments that are more reachable between 8 A.M. and 9 A.M. on a bus commute into New York City, playing a game on an Android 4G phone with 50% battery life left on their phone.
Based on predictive modeling, LoopMe makes programmatic buys with individualized variables.
LoopMe also works with market research company IRI.
For consumer products goods clients, the platform combines Numerator and IRI loyalty card data. Adding Numerator gives LoopMe’s system access to to purchase information from retailers without loyalty cards, such as Wal-Mart.