CPV is generating a welcome dialogue in the ad industry as it wrestles with questions such as how to value repeat customer visits and how much is a visit worth. Key to answering all these questions, though, is clearly understanding the accuracy of the underlying location data being used to score the visit.
Whatever you thought you knew about getting your business found online and on mobile, or whatever you are currently learning, is already obsolete. The way consumers interact with search technology today is on its way out. Why? Autonomous cars, artificial intelligence and voice commands are all transforming search into something we can only begin to imagine.
The location data provider has entered into a partnership with GeTui, a mobile internet, push-notification service provider to nearly one billion devices. Under their agreement, the companies plan to jointly develop a machine learning platform to process data about foot traffic and offline consumer behavior from the Chinese market.
The future of retail and attribution is evolving quickly and allowing brands for the first time to have a better understanding of how effective their advertising is. While the search for in-store attribution is at the top of the every marketer’s wish list it’s important that all know the strengths and weaknesses of each methodology.
“Location isn’t just where you are,” Gil Elbaz, chief executive at Factual, said during a fireside chat with Street Fight co-founder Laura Rich at Local Data Summit in Denver Thursday. “It’s also what’s happening, who else is there, events, what are people buying. There’s a lot of information to synthesize.”