S4M, the marketing technology company, just revealed that incremental visits are important campaign metrics for retailers. According to an analysis of cost per incremental visit (CPIV) of over 100 marketing campaigns, the company found that incremental visits were an important metric for determining digital campaign effectiveness.
Incremental visits are calculated by compared the number of “visitors exposed to an ad to those in a similar group not exposed to the ad.” This means advertisers are only paying for visitors which are associated with their campaign and not organic ones. S4M defined it as the “new standard to measure the true impact of drive-to-store campaigns”.
To make it easier to assess CPIV benchmarks, S4M has provided an overview of average industry benchmarks. The study found that price of an incremental visit to a store was correlated to the average purchase value of industry and the frequency of the purchase.
“Thanks to mobile, digital’s effect on the offline world is measurable. The first KPI that the market used to evaluate this impact was the cost per visit,” explained Christophe Collet, CEO and Founder of S4M. “However, it is now apparent that simply measuring visits has its limitations. These first CPIV benchmarks will allow brands to better understand and evaluate the real cost and value of a true incremental visit. Going beyond simply doing a study, we’ve decided to equip decision-makers with a tool to independently calculate their return on investment for their drive-to-store campaigns.”
Furthermore, the company launched an online tool based on its CPIV data which calculates potential ROI for drive-to-store campaigns. The tool lets marketers calculate average purchase value and conversion rate when entering their campaign budget.