Yahoo has launched AdLabs, a service that will reportedly combine success-measuring ad metrics and science to stimulate innovation in the online advertising sphere.
AdLabs will foster innovation in digital advertising by applying metrics, scientific research and data analysis to a cache of Yahoo! stored ad campaigns.
This in turn will allow the firm’s analysts to develop insight into how to better drive the success of online advertising.
A spokesman for Yahoo said said the company hoped to build on previous successes and address the needs of marketers to implement effective campaigns.
“Successful campaigns change perceptions about brands and increase sales. Marketers need new, breakthrough, scientifically-tested methodologies to drive these important metrics. Yahoo! has the scale to measure the impact of many campaigns and the breadth of expertise to produce the new models and innovations that will move the digital advertising industry forward,” the company said in a statement.
To mark the first findings from the AdLabs team, Yahoo! imparted some recent retail ad study results.
The team found that hyper-local display ad targeting generated an impressive five times return on ad spend or more, as local customers comprised just 10.6 per cent of an ad-viewing audience but generated 56 per cent of ad-generated revenue.
