NEW YORK, Nov. 18, 2021 /PRNewswire/ -- GroundTruth, the leading location-based marketing and advertising technology company, announced today that it is expanding product-related advertising capabilities with the launch of In-Stock Local Ads. By increasing its ability to ingest and analyze massive levels of product supply data, GroundTruth's next generation of in-stock marketing technology allows national and local retailers and CPG brands to manage inventory shortages at scale. In-Stock Local Ads works by serving shoppers similar product options for items that may not be available at specific store locations or by redirecting shoppers to alternative stores with higher levels of product availability.
35% of shoppers are willing to substitute a similar brand or product for the out-of-stock items on their shopping lists1. "The impact of a true marketing strategy for out-of-stock items is much more meaningful than capturing a short-term sale," said Dan Silver, Senior Vice President of Marketing, GroundTruth. "The real danger lies in brand switching. Having a highly localized solution in place can prevent the more significant loss of a loyal customer and their lifetime value."
2021 Marketing Investments Could Be at Risk This Holiday Season
In the first half of 2021, total U.S. media ad spending grew by 32% year-over-year to reach $130 billion2. In fact, GroundTruth data reveals that for the first time in July 2021, the number of 'repeat visitors' outpaced 'new visitors' to retailers since July 20203. With the emergence of supply chain shortages, those marketing investments to get consumers back into stores and increase brand loyalty are at risk as consumers look to spend more this holiday season. With consumers traveling an average of 10-more miles to retailers than they did in 20193, GroundTruth's In-Stock Local Ads allow brands to dynamically serve ads based on product availability at nearby stores to reach shoppers who are willing to drive the extra mile for products.
About In-stock Local Ads
GroundTruth's hyper-local, store-level targeting capabilities inform consumers about digital offers and store information that are most relevant to them, including product availability and in-stock inventory. GroundTruth's in-stock product marketing technology was introduced in 2020 to help CPG brands address limited supplies for essential products, such as toilet paper and cleaning supplies generated by the onset of COVID-19. By layering GroundTruth's Neighborhoods technology, powered by MRC accredited visitation data, with its in-stock tracking solution, GroundTruth's new In-stock Local Ads flips conventional thinking from "out-of-stock" notifications to "in-stock" notifications. These trusted location-based ads give brands a way to ensure their advertising spend creates a positive shopping experience for their customers.
GroundTruth is a 2021 OmniShopper Award recipient in the Best Digital Mobile Activation category from the Path to Purchase Institute for implementing CPG in-stock ads for a major fresh meat brand. The campaign focused on driving visits to Walmart locations with inventory availability. The initiative drove shoppers to locations with stocked shelves and led to a 24% increase in sales of their product, showcasing the impact that dynamic In-stock Local Ads have in maximizing marketing spend to drive more sales.
GroundTruth is the leading location-based marketing and advertising technology company. Brands, agencies, small businesses, and non-profits trust their performance-driven solutions to help them reach consumers during moments of intent that generate important business outcomes. GroundTruth's suite of geo-contextual display and video advertising products and services are available at scale through their self-serve omni-channel advertising platform, managed services, and industry reseller partnerships. GroundTruth's marketing platform is powered by a unique data set called "visitation data" accredited by the Media Rating Council (MRC). Their proprietary cleansing processes combine contextual mapping technology (BlueprintsTM), owned and operated properties, and third-party mobile location data, together yielding over 30 billion visits annually.