RETURN ON DATA
The financial benefits of using Factual
To better understand the financial impact of using Factual location data, Factual commissioned Forrester to conduct a Total Economic Impact™ study. Here’s what Forrester uncovered
Brands Know They Need Location Data, but Many Struggle to Quantify the Financial Benefits
Location data is a critical tool for brands and advertisers alike, but understanding how to best choose a location data provider and quantify the benefits can be difficult. That is why Factual commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) Study and examine the potential return on investment (ROI) businesses may achieve by utilizing Factual location data. Marketers rely on location data to improve campaign targeting and produce measurable foot traffic, but challenges with data accuracy and cleanliness continue to plague the industry. Forrester found that Factual customers trust Factual location data and describe it as accurate and high-quality. Using Factual location data delivers multiple benefits, and customers can justify the cost of their investment within the first campaign, according to the study.
“We A/B test different types of data providers out there quarterly. For our client, location-based targeting with Factual data showed better KPI results than our other location partners and that’s how we settled on Factual.”
— Client Success Manager, Global Media Agency, Media Company
Behind The Numbers
Forrester calculated that using Factual location data results in $3.4 million in benefits over a three-year period for the composite organization.
“With Factual, we’re seeing data every day. Everything is coming into the DSP properly. Conversion and store visits information was flowing in daily. Competing data providers campaign results were delivered weeks later.”
Additional benefits of using Factual location data uncovered in the study include:
“We like that Factual doesn’t have a media offering; they’re strictly a data company. A lot of the other partners try to sell you their audience data but they also want you to buy their media and run on their media network. Their report will show their media on their network is the strongest performing. That’s like they grading their own homework.”
– Data Sciences Lead, Media Agency
Forrester is an independent American market research company that provides advice on existing and potential impact of technology to its clients and the public. Forrester Consulting is a division of Forrester that provides independent and objective research-based consulting to help leaders succeed in their organizations.