RE: Finally the PR is switched back on5 Nov 2024 07:50
REACH: non-regulatory announcement*
5 November 2024
Mirriad Advertising plc
("Mirriad" or the "Company")
Mirriad's Virtual Product Placement drives over 50% increase in average transaction value for one of the largest US advertisers
Industry-first measurement of sales and shopping sales incident data showcases the power of VPP against TV spots
Mirriad, a leading in-content advertising and virtual product placement ("VPP") company, announces groundbreaking research demonstrating the power of its VPP to directly drive sales and store visits for one of the largest US advertisers. The campaign, run using the Mirriad's VPP platform, drove a 51% increase in average transaction value for this large advertiser. These results, as revealed by iSpot data, mark the first time VPP has been measured using pixel tagging methodology aligned to standard TV advertisement reporting in the industry. The iSpot data highlighted the campaign's elevated return on investment ("ROI"), growth in advertiser transactions, and strengthened connection with the advertiser's target audience:
Return on Investment
Credit card sales data showed that the advertiser's six-figure VPP campaign generated an impressive seven-figure return on investment, delivering a ROI of 5:1.
Store Visits and Sales
The innovative advertisement format drove significant increases in actual sales activity among core adult audiences, including:
● a 51% increase in average transaction value, in excess of prior Kantar studies showing that VPP can boost sales by up to 35%;
● a 27x increase in shopping incidence within households compared to the TV spot campaign (segmented core audiences); and
● a 16% increase in transactions per household.
Stephan Beringer, CEO at Mirriad said, "This research underscores the power of virtual product placement, and the value of this net new video inventory that Mirriad creates. By diversifying video investments with our VPP advertisement format, advertisers will fuel significant sales growth and achieve higher returns compared to traditional formats. VPP outperforms standalone traditional advertisement formats dramatically, delivering a winning solution to everyone."
LOTM