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What is Geographic Market Share Influx Quotient (GMS iQ)?
Geographic Market Share Influx Quotient, or GMS iQ for short, is a representation of the foot-traffic market share that a particular dealership received attributed to an Evolution Media Group enabled campaign. Simply stated, it is a measurement aimed to help a dealership and their agency understand how competitive the store is in its given market.
How Does it Work?
Evolution Media Group enabled campaigns not only track the foot-traffic to the supported dealership, but to all stores visited by any user who was exposed to a given streaming advertising campaign. Said differently, the store visits counted are attributed to the streaming campaign and is not a measure of all foot traffic to all dealerships. Given that all dealership visits attributed to a campaign are tracked deterministically, an index can be created to measure each store’s allotment of traffic.
Ok, But HOW Does It Work?
To understand GMS iQ it’s important to understand how physical arrivals are attributed to any given streaming campaign on a CTV device, which is dependent on two components: Household Graph and Location Data. Several improvements in scoring mechanism including substantial improvements in the underlying data dating back to Jan 2021 are now finally in place. This new data is not only more stable but also compliant with all new data regulations (CPRA, GDPR, CCPA)
Once the data is filtered for quality. The dealership data is normalized based on the average performing dealership in a market, this average represents a score of 100. A dealership which performs below the market average will score between 80 and 99, and those who over perform the market will score 100+ this is normalized for all markets.
A household graph is technology that creates a relationship between all of the connected devices in a household. This includes common devices such as computers, laptops, and phones to more emerging devices such as Connected TVs and smart devices, including speakers (e.g. Amazon Alexa). These devices are aware of one another and understand activity within the graph, including content and advertising exposure. Therefore, when your Connected TV is served an ad, the other devices in the graph are aware of this, including your phone…
Through a partnership with same company that powers location data for Uber, Amazon, and Apple, we are able to tap into the location data of 90%+ of the US cell phone market. Among other data points, they provide the location of all users who visit retail automotive locations following exposure to our tracking tags.
How Accurate is GMS iQ?
Our location data is taken through a rigorous cleansing mechanism for employees, non-sales dealer visits, and anomaly visitors (those who show at the location for less than 5 minutes) all of these low or no value visitors are removed from the reports. You can be assured that any visits that do make it through these filters are of the precise nature of dealership visitors your customers are looking to acquire.
There is no better current health metric for a dealership than GMS iQ. This comparison is normalized for all economic, macro or local conditions as well as seasonality, inventory shortages, and other outside factors.
What is a Good GMS iQ?
This is now very simple; a score of more than 100 means that the dealership is performing above the average of its peers within the primary market. Scores of 120 and over are extraordinary performers within a market. Finally, a score of below 100 means they are lagging the market.
How do you improve a dealers GMS iQ?
We are constantly refining our campaign recommendations. After measuring tens of thousands of automotive streaming campaigns, as well as tracking 65+ million arrivals to more than 15,000+ dealerships; we can regress every media strategy ever tested by any agency or dealer we have worked with. We benchmark those tests against our current media recommendations.
At this point our recommended media configurations outperform most test campaigns by more than 12-15x on performance lift and media efficiency.
We highly recommend helping your clients move their streaming media to these recommendations to improve their performance and most importantly your agency dealership retention and renewal rates.