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James Heller - Co-Founder and CEO of Wrapify
James’ Background (02:04)
Before launching Wrapify, I ran global digital marketing for a world's largest technology wholesaler. Before that I was a marketing director, so I've always sat in the marketing seat and I've always been fascinated by it.
When we first sat to build Wrapify the focus on measurement and attribution was always at the forefront.
In the last few years, we started to see the shift from top of the funnel brand marketing to something that is more performance driven.
The Major Channels (04:54)
Out-Of-Home consists of pretty much any brand message that is delivered to you outside of your home. If you look at the actual placements these would be billboard advertising, transit advertising, street furniture, airport advertising, and any sort of advertising that is posted in the outdoor space.
The Dynamics of Out-of-Home Advertising (05:30)
Technically there’s reach and frequency. For example, how many times do you want people to see this throughout a four week period?
Buying out of home has become a lot easier.
Some of these traditional agencies have started their own platforms for making it easier to create inventory allotment for a brand.
And then there are also self service tools that a brand could use to circumvent an agency and do it all on their own behalf.
Some of the larger agency holding companies have started building their own because they're realizing that these tools are going to take market share away from their traditional agency model so they have to do something.
Today, buying home is easier than ever. So it's a really cool time to be leveraging out of home as part of your media mix.
Placements, Impressions, and Frequency (08:12)
Geopack is a company that provides this level of attribution.
I think marketers are becoming less focused on the how many and more focused on what the outcome looks like.
Just because you have an impressions number doesn't mean that you actually drove an outcome for the brand.
Out-of-home is becoming something that you can measure today and that’s why so many brands are starting to leverage it. It’s growing about 5 percent year over year, unlike traditional media channels which are declining.
At the end of the day, out-of-home works.
Wrapify uses traffic data, live traffic data, historical traffic data, and our algorithm to measuring moving out of home object. We patented that in 2016. It’s what got us on the map and we won many awards for it.
The Pricing Methodology (12:02)
It really depends on the out of home platform. If you're looking at digital out of home, they're starting to move down a direction that's a lot more similar to display advertising online.
On the more static placements, you're typically looking at a cost per four week period.
At Wrapify we blend all those into one easy price per vehicle. We don't charge extra for attribution. We want to make sure that attribution is always included with everything that we deliver.
A mid-market brand can easily afford to spend something locally.
A lot of brands use Wrapify to establish brand recognition and the repetition and we also offer retargeting features.
The Difference Between Putting a Billboard That Isn’t a Static Placement And Buying Ads on Something That Moves (02:39)
If it's a market where you're on the road or a market that has a ton of foot traffic, or commuters that are either driving into the city or people who are walking on the sidewalk to work, transit is a fantastic channel to be able to capture that top of the funnel brand awareness. Each city demographic changes the way you leverage it.
Wrapify is at the intersection, between digital and out of home and that's because of our ability to geo-fence and target specific parts of a market.
We are seeing a lot of B2B tech brands like Salesforce and Zoom Video Communications leveraging out of the home platform.
And part of that is the recall. The recall that it creates is super high because it's really hard to ignore something that's moving, especially something that's moving in nascent.
We take a really targeted approach to creating a lot of recall with the out of home component that we deliver and then we're able to follow that up with measurement attribution and the ability to retarget this audience that's been exposed. That’s why brands love us.
Brands and Industries That Use Out-of-home Platform (05:56)
B2B brands are leveraging Wrapify in a lot of cases for account based marketing. These include Salesforce, XenDesktop, Zoho, Zoom, and others.
We're starting to see a lot more B2B tech brands leveraging traditional out of home formats like billboards on the roadside for instance.
How Are People Using Retargeting (08:23)
There's a couple of ways that are being leveraged today. One, obviously leading off of that really high recall out of home exposure and then being able to continue to hit the audience exposed with a relevant brand message.
Brands are not just leveraging out of home as a top of the funnel brand awareness thing, but it's also driving more relevance for what they do on the digital front with display advertising.
The Pricing Methodology for Wrapify (14:03)
The average CPM for traditional out of home platforms are between $5 to $8. However, the amount of impressions and reach that we are able to drive from one place and that's moving throughout a city helps drive down a much lower CPM.