Locala - Demystifying digital advertising: A guide to key terms and concepts in a data-driven world
The digital advertising space is constantly evolving as new technologies and practices arise, and the vocabulary changes just as rapidly.
In a world driven by data and insights, understanding the nuances behind terms and concepts can make all the difference. Like many others in the industry, Locala adapts to these changing terms and even coins new ones to reflect our innovative approach in the digital advertising space.
To simplify things, we’ve created a brief glossary that highlights some of the key terms currently used in the advertising industry:
Territorial data: Socio-demographic information attached to a zone, provided by statistical bureaus.
Exclusive Shoppers: Those who have only visited your locations within the past month.
Switchers: Those who have visited both your locations and your competitors’ locations within the past month.
Most Valuable Prospects: Those who have never visited your location but, have a high affinity to the area where your location is and frequently visit those within the same category/go to your competitors. They have a High likelihood of becoming long-term, profitable customers.
Draw-In rate: Is calculated by dividing the number of visits by the sum of visits + passersby. For instance, if there were 10 visits and 90 passersby, the draw-in rate would be 10%.
Uplift: Footfall Uplift is the increase in footfall observed between the exposed and control groups, expressed as a percentage. The bigger the uplift is, the more we positively changed consumers’ behaviors.
Incremental Visits: Refers to the number of additional visits to a store that can be attributed to a specific marketing campaign. (Incremental visits are a subset of the visits).
Dynamic Commerce Areas: DCA gives marketers a better understanding of consumer behaviors and footfall trends within specific areas. By analyzing the data associated with a DCA, marketers can gain insights into customer behavior, identify areas of opportunity, and make more informed decisions.
DOOH: A new take on classic outdoor advertisements which enhances billboards, posters, and signage with new technology, enabling interesting new features such as interactions between the ad and its viewers, remote control of campaigns, real-time bidding for ad time on physical billboards, targeting of audiences.
CTV: Stands for Connected TV. – Is a subset of OTT. CTV is a TV that is connected to the internet via an internal device (i.e. Smart TV) or an external device (for example, Apple TV, Roku, or gaming consoles). Video content is delivered to a TV screen, through the internet.
OTT: ‘Over the top’ media which encompasses all Linear TV or Video on Demand (VOD) (e.g. AVOD or Broadcaster VOD) streaming content providers (such as Netflix, Hulu, etc.) These content providers distribute directly to viewers over the internet. OTT includes all devices and environments including Mobile, Desktop; App, Web and is not exclusive to CTV.
Device ID: A device ID is a unique, anonymized string of numbers and letters that identifies every individual smartphone or tablet in the world. It is stored on a mobile device and can be retrieved by any app that is downloaded and installed.
Territorial data: Socio-demographic information attached to a zone, provided by statistical bureaus.
POI Database: Locala’s POIs Database is aggregated by different suppliers and regularly fed by Locala ad-hoc requests It includes millions of Points of Interests references and locations all over the world.
