The internet has upended the relationship between consumer and retailer. Once upon a time, consumers relied on companies including Sears, Macy’s, and RadioShack to provide them with certain goods. The Sears Catalogue famously stood as one-stop-shop for all kinds of products, selling clothing, cars, appliances, and even build-your-own-home kits. Today Amazon performs the same function, however there is a major difference: Amazon doesn’t simply sell goods. Amazon gathers an enormous amount of data on its customers’ shopping and browsing habits. This data has many uses, among them enabling Amazon to deliver customer-specific, influential product recommendations.
To compete, retail outlets must provide the same level of personalization and recommendation if they intend to compete with mighty Amazon. How? Through the use of proximity and location data.
Knowing the kind of items your customers like to buy, as well as the websites they visit, is enormously valuable when it comes to retargeting. However, understanding how people behave on the internet is only a small piece of the puzzle. ComScore’s report, 2017 US Cross-Platform Future Focus, notes that mobile now accounts for 69% of digital media time, while desktop accounts for less than 1/3 of total digital media time. Understanding how people behave in the real world (i.e., with omnipresent mobile devices) allows marketers to get a more holistic view of their audiences. Proximity Data is the currency that fuels that understanding.
Brands are already using proximity and location data to inform their marketing strategy. Shinola, a lifestyle brand, has been using geolocation data to determine the best ad placement. They teamed up with PlaceIQ to collect a variety of data, including foot traffic analysis, tactic visitation, creative performance, and audience analytics. This data revealed revenue-impacting insights. At ProxSummit, Jacques Panis, Shinola’s President, offered, “One thing we found was that our media targeted post-exposure to our out-of-home placements had the highest visitation in-store. That shows us the importance of having multiple exposures to consumers in a media buy to get them to take action.”
More importantly, Panis added, “We also learned more about the lifestyle and purchase behavior of the people who were most likely to go in-store, which helps us zero-in on these consumers for future campaigns.” These insights helped fuel a successful geolocation campaign, in which the company used location data to segment consumer audiences in six cities, developing creative for each segment that spoke to each audience directly. Panis said that going forward, “These types of geolocation campaigns will definitely play an important role as we open stores in new markets.” A testament to the power of proximity and geolocation, indeed.
Shinola offers just one example of the many ways in which proximity and location data can create value for retailers, brands, and agency marketers alike.
Highest Value Uses of Proximity & Location Data
- Understanding behavior and shopping preferences of individual consumers
- Personalizing consumer touchpoints
- Activating of in-store experiences including:
- Customers receiving a coupon upon entering a store
- Product recommendations based on shopping and browsing history
- Gauging effectiveness of advertisements to drive in-store attribution
Location and proximity data are the building blocks that will empower brands and brand marketers to create better ways to connect with consumers – adding sophistication to offline marketing strategies, helping to close the online/offline gap.
Chris Cunningham is the Chief Revenue Officer at Unacast, the world largest network of beacon and proximity data, building the Real World Graph and connecting the physical world to the digital — for online retargeting and attribution. Cunningham is an active tech startup investor and founder of C2 Ventures, a privately-held investment firm with a focus on consumer, data, and financial techs that provides seed capital to early stage digital media companies. Cunningham has been named one of the "Most Important People in Mobile Advertising" by Business Insider, as well as being an Ernst & Young Entrepreneur of the Year, finalist two years in a row. He's been featured speaker at International CES, Cannes Lions, IAB's Annual Leadership Meeting, dmexco, and f.ounders. Cunningham is a contributor to CNBS and Bloomberg TV via on-screen appearances, and is former co-chair of the IAB Social Media committee and Native Advertising Task Force.
Snapchat users took to social media to post screenshots showing the Snap Map labeling New York City as "Jewtropolis" early Thursday morning.
The cause? It turns out that the mapping software company Mapbox, used by Snapchat, the Weather Channel, StreetEasy, Citi Bike, and more, was vandalized to display the anti-Semitic moniker in place of New York City.
The company said the issue was resolved shortly before 9 AM ET.
Mapbox is utilized by a variety of developers, and used by over 400 million people per month, but not all services that rely on Mapbox's data were affected by the vandalism. Other companies like Vice and Vox that use Mapbox did not seem to be affected, The Verge reported.
In a statement to Tech Crunch, Mapbox CEO and founder Eric Gundersen said Mapbox uses humans and AI to check for vandalism, but the company is still looking into how this particular act of vandalism slipped through the cracks. Mapbox did not respond to a request for comment from Business Insider.
"This is now 100 percent fixed and should have never happened. It’s disgusting," Gundersen told Tech Crunch. "We’re constantly scanning for this, and it’s an error on our part [to have missed it].”
Hey Dan! Thanks for bringing this to our attention. Snap Map relies on third party mapping data which has unfortunately been subject to vandalism. We are working with our partner Mapbox to get this fixed immediately.— Snapchat Support (@snapchatsupport) August 30, 2018
August 30, 2018 August 30, 2018
McDonald's is adding yet another price-focused offer and giving local markets more say in advertising for the morning rush after its national value strategy and breakfast ads failed to increase visits to its restaurants.
McDonald's U.S. same-store sales increased 2.6 percent in the second quarter, marking the chain's slowest U.S. growth since the first quarter of 2017. Visits to U.S. McDonald's restaurants fell for the second consecutive quarter after rising 1 percent in 2017. Plus, the national introduction of fresh beef Quarter Pounder patties is slightly slowing down operations.
Although McDonald's profit and revenue exceeded analysts' expectations, its shares fell about 1.7 percent on Thursday, when the results were issued. Much of the blame in the U.S., executives said on the company's quarterly call, stemmed from its value positioning.
A new partnership is bringing together powerful data visualisation and data-driven business intelligence to give companies an unprecedented understanding into the offline world. Cambridge, UK: GeoSpock® – the extreme-scale, data integration company that provides analytics, builds insight, and enables predictions across space and time, is partnering with Tamoco – the largest sensor-driven location data network of its kind. The partnership will […]
The post GeoSpock and Tamoco Partner to Scale Location Data Insights appeared first on Ad Tech Daily.