Data from a new Millward Brown Optimor Study, commissioned by Adspace Networks Inc., New York, showed that four major brands saw a 36% increase in brand purchase interest after their ads appeared on the company’s in-mall video advertising network on a four week schedule.
Millward Brown Optimor, New York-based global research agency specializing in brand valuation and brand strategy research, worked with Adspace Digital Mall Network to quantify the ROI of advertising on the network in terms of brand equity uplift and its impact on consumers’ intent to purchase participating brands’ products.
Adspace looked at four leading national brands in the automotive, candy, condiment, and retail categories. Each one was measured on its ‘brand contribution to purchase interest’, which is a Millward Brown Optimor metric using multiple purchase attributes (such as ‘fun’ or ‘offers good value’) and the brand’s role in each.
On average, pre-campaign brand contribution (those who had no exposure to Adspace advertising) averaged 22%. Post-campaign brand contribution (after exposure to Adspace advertising) jumped on average to 30%.
Millward Brown Optimor’s calculation of ‘uplift’ – meaning the impact of Adspace on the brand – translated to an average net gain of 8 percentage points, or 36%.
“This is our first study using a respected third party research firm to measure how our medium impacts overall brand strength,” says Bill Ketcham, executive vice-president and chief marketing officer, Adspace Networks. “We’ve always known we communicate well with our mall visitors, and that they are in a positive mindset and receptive to our advertising, but we’d never been able to prove our impact on brand equity, and how efficiently we deliver it.”
The average return on every dollar of advertising invested was $4.02 – the actual ROIs measured ranged from $2.17 to $8.76, and varied based on the size of the companies and earnings related to brand.
“The results of this study indicate an increase, not only in the short-term sales potential, but also in the long-term revenue potential that comes from building overall consumer perceptions of the brand,” says Mario Simon, managing director, Millward Brown Optimor. “Therefore, advertising on this network offers return for brands regardless of whether they do or do not sell products in the mall environment.”
Interviews were conducted in two Adspace Malls: Westfield Garden State Plaza in Paramus, New Jersey (2,400,000 sq.ft.; four week traffic: 1,435,000; 27 Smart Screens), and Westfield Fashion Square in Sherman Oaks, California (850,000 sq.ft.; four week traffic: 1,189,000; 20 Smart Screens)
The interviews took place in both malls pre-advertising exposure and post-advertising exposure on brand attributes, purchase consideration, and brand affinity to determine if advertising on Adspace Digital Mall Network was able to generate a lift on these key factors.
Adspace Networks owns and operates the Adspace Digital Mall Network, located throughout 129 Class A malls across the U.S.. The network consists of 1,727, eight and nine-foot-tall plasma screens called ‘Smart Screens’. The Smart Screen displays show programming which combines a mix of the top 10 sale items in the mall, the hottest seasonal items available, mall events, and local and national advertising. The network reaches 117 million affluent consumers (source: Scarborough) each month.