Source Metrics, a provider of social media marketing analytics platforms, this week released an in-store conversion tracking offering that allows brands and marketers to track in-store purchases that are attributed to social media marketing campaigns.
The Source Metrics in-store conversion offering provides companies with following quantitative metrics:
- Total number of in-store conversions by campaign and social property;
- Time of day of all in-store conversions by campaign and social property;
- Total number of in-store conversions by individual store;
- Time of day of all in-store conversions by individual store;
- Total number of conversions by city;
- Total revenue of re-deemed items; and
- Total number of online clicks by campaign and social property.
The offering allows companies to share special offers on social media channels that are redeemable in brick-and-mortar stores through a code on smartphones that the retailer provides to the consumer at the cash register. The platform is flexible and can track the following types of campaigns:
- Contests entries that require in-store visits;
- Discounts and giveaways;
- Flock to Lock - (First X number of people get the offer);
- Geographically capped offers; and
- Email acquisition contests that required an in-store visit to collect an email address.
"Social marketing campaigns are continuing to grow every year, and while marketers know that it is driving more people into their physical store, however, until now there has been no easy way to quantify that data and show the true ROI," said Scott Lake, CEO of Source Metrics, in a statement. "Our bread and butter has always been showing ROI of social campaigns in e-commerce, but we just could not ignore the need for an in-store conversion tracker. We are proud to be the first to address this need in the market and that our new offering has already been proven successful with our beta testers in providing quality statistics to retailers while also being easy for consumers to use."
The Source Metrics offering is compatible with all smartphones and doesn't require users to download an app to interact with offers. Consumers simply view the offer in their social media streams, and, when they click on the offer, they can view it through their phones' mobile browsers.