The kinds of connections being made between travelers exploring a new city and local businesses are similar to those that people make when they are looking for goods and services at home. And Airbnb has made it clear over the past couple of years that the company wants to help travelers “live like a local.”
With the rise of Oculus and a host of other new companies, there has been lots of talk this year about the potential local and retail implications for virtual reality and augmented reality. At Street Fight Summit West in San Francisco earlier this month, a panel examined how brands and retailers see the VR/AR opportunity.
While ecommerce companies have doubled down on taking their chunks out of the local pie, some on-demand services are trying to find ways to use their immediacy to help brick-and-mortar businesses fight back. At Street Fight Summit West earlier this month, a panel looked at this tension between ecommerce and brick-and-mortar.
To many in the industry, the idea of making connections between marketing impressions and dollars spent seems like it could be the holy grail — giving proof positive to businesses that their marketing dollars are well-spent, and unlocking further budget.
Restaurants are a particularly large and important vertical in local, and as such they’ve long been a testing ground for a variety of digital products. Now a new generation of companies is starting to use local marketing and delivery services to rethink what a restaurant is and how we think about our dining experiences.
The pace for venture capital funding has slowed and deals that once took days to close now take months, but Hunter Walk (Partner, Homebrew VC) and Eric Feng (General Partner, Kleiner Perkins Caufield Byers) say it’s still an exciting time to be involved in local tech.
“The way we categorize data is it’s probabilistic,” said Juice Mobile CEO Neil Sweeney at Street Fight Summit West. “If you are acquiring or buying location from bid stream data, your location is inferred and inherently flawed.”
Goubert says one of the biggest questions that comes up when people start talking about data is, is more always better? “We all love data because we think data is the oil of the next industry,” he said. “We all want more.” But collecting data for the sake of collecting data is a common mistake, and Goubert said the first step in solving most big data dilemmas is to add a location angle…
“The premise of our business is that in the past you walk into your local business and everybody knows who you are. It is a very familial relational space,” Ho said. “Our goal is to help these business owners treat every single [customer] as a unique individual. Not long from now it’s either going to be like Minority Report or like Cheers. We want it to be like Cheers.”…
Fragmentation is changing the local marketing industry, with smaller sellers encroaching on a space that was once reserved for large national agencies. At Street Fight Summit West, YP CEO David Krantz said the influx of competition is making it tougher to sell bigger advertising services.