These 6 Location Data Providers Are Changing the Way Brands Target Consumers
This post is the latest in our “Targeting Location” series. It’s our editorial focus for the month of March, including topics like location-based ad targeting, attribution, and privacy. See the rest of the series here.
Marketers are reaching consumers in the physical world in ways we’ve never seen before. More brands are measuring real world foot traffic patterns. They’re launching targeted mobile advertising campaigns. They’re even analyzing consumer movement patterns to make important business decisions and uncover new market insights. Behind the scenes, brand marketers are putting an incredible amount of trust in location data providers to give them the most accurate, up-to-date datasets possible.
Location data providers power the vast majority of mobile targeting strategies we’re seeing brand marketers implement today. An incredible 80% of marketers say they plan to boost their use of location data over the next two years, and in the U.S. alone, it’s expected that location-based advertising spend will reach $38.7BN by 2022.
In order to achieve those goals, marketers will have to work closely with top location data providers. Here are six companies they’ll be working with.
One of the most well-known firms in the location data market, Foursquare now runs an independent location data and technology platform for marketers and developers. Using Foursquare’s location data, brands can quantify the impact of their media (using validated stops) and find new audiences that they can target with relevant advertising, Foursquare also offers a Places API and a Pilgrim SDK, which enable location discovery inside apps and websites, as well as real-time location detection.
PlaceIQ offers a way for businesses to leverage location-based insights to connect with digital audiences. The company’s solutions fall into four main categories—advertising, measurement, analytics, and DaaS. To power those solutions, PlaceIQ relies on mapping and location data, which the company combines in order to better understand the world through the “lens of location.” One of PlaceIQ’s missions is to diversify its data, which means working with thousands of data sources to combine the depth and accuracy of background data with foreground data. PlaceIQ has created its own filtering technology, which removes fraudulent location data from the system.
Brands and technology companies work with Factual because of the company’s innovation in product development, mobile marketing, and analytics. More specifically, Factual’s location data is used to help brands build highly-targeted audiences and measure the effectiveness of their campaigns. Factual’s data asset was created from more than 3 billion references across more than 100,000 unique sources. The company offers data for products and mobile apps, as well as location data for data science.
GroundTruth offers a way for brands to better understand consumers, make strategic forecasting decisions, and increase store visits and sales. These solutions are all within the context of location data. GroundTruth says its network is 10x larger than its nearest competitor, with high-quality data that’s been verified through independent accuracy audits. Marketers can use GroundTruth’s location data for audience targeting, location targeting, and weather targeting. They can also take advantage of GroundTruth’s data offerings to leverage consumer location data based on real world behaviors.
Cuebiq says its database of anonymous location data is one of the largest and most accurate in the market. That data is available through the company’s location intelligence platform. The Clara platform leverages location analytics, location-based audiences, and footfall attribution to optimize business’ strategies and marketing activations. Geo-behavioral target capabilities mean Cubeiq clients can target consumers based on their offline behaviors and purchase intent for specific industries. Cuebiq regularly works with brand and agencies, as well as financial services firms, and publishers.
Skyhook is a location data provider that locates IoT devices anywhere at any time. Using Skyhook’s location-based technology, services, and data insights, the company says its clients are able to make more educated, data-driven decisions. Skyhook works with businesses in the IoT, travel, real estate, retail, and financial services industries. With its Precision Location hybrid positioning system, the company can locate devices using WiFi, GNSS, and cell signals. That makes it particularly useful for asset tracking, wearables, connected cars, and point of sale devices.
Stephanie Miles is a senior editor at Street Fight.