Ride hailing company Lyft Inc (NASDAQ: LYFT) has entered into an agreement with data and analytics firm Nielsen to measure its in-app advertisements through Lyft Media.
Lyft will leverage three measurement solutions to measure audience along with brand and sales lift performance for their advertisers' campaigns: Nielsen ONE Ads, Brand Impact and Buyer Lift.
These methods will facilitate how reach, brand metrics and sales lift solutions work together to inform media strategies and performance of advertising campaigns.
"Leveraging Nielsen One Ads in conjunction with Nielsen Brand Impact solutions unlocks comprehensive insights for advertisers previously not available in the marketplace," said Ameneh Atai, GM, Audience Measurement.
"Lyft Media advertisers will see in real time how reach and frequency metrics can influence brand KPIs, powering actionable insights to guide more informed campaign strategy going forward."
Lyft provides a transportation network in North America, bringing together rideshare, bikes, and scooters all in one app.
Price Action: LYFT shares are trading higher by 1.08% at $20.50 in premarket on the last check Friday.