How did a Seattle-based ad tech company move up the ranks to become an industry darling, less than eight years after its launch? And how does the new relationship between Foursquare and Placed, which was previously the biggest competitor to the company’s Foursquare Attribution product, impact the location industry at large?
To find out, we caught up with Placed founder and CEO—and now president of Foursquare—David Shim. Here are his thoughts on what it’s like to go through an acquisition, and how two industry heavyweights who’ve competed for years are finding new ways to work together.
On this week’s Location-Based Marketing Association podcast: Eleven-X + Skyhook, NCR Digital + SAFE Credit Union, Albert Heijn tries dynamic pricing, Foursquare buys Placed from Snap, GrandVisual + NCMEC finding missing persons, Wendy’s partners with GasBuddy for Memorial Day campaign.
Foursquare and Placed are location tech’s new power couple.
The location intelligence firm is acquiring Placed, which had previously been bought by Snap for its top-rate online-to-offline attribution solution, and the two will offer one of the most powerful attribution solutions in the location industry, to be called Placed powered by Foursquare.
As ad tech faces tougher times and a privacy-driven crackdown on data collection and ad targeting practices, more mergers and acquisitions are likely to transform the industry’s terrain. Teaming up and stockpiling as much first-party data as possible, thereby eliminating the need for less compliant modes of data harvesting, will boost the longevity of some firms while others flounder.
Brushing aside customer surveys and other imprecise measures of customer loyalty, location intelligence firm Foursquare released a location-based report this morning that evaluates best practices and practitioners in loyalty among casual restaurant chains.
Most importantly for future considerations, the report suggests that brands can improve loyalty in all four of the areas that contributed to its index.
5G goes far beyond just a speed boost. The quantitative advantages are joined by qualitative factors that will enable all kinds of new consumer use cases and content delivery strategies. This notably includes more precise location tracking/targeting and even some indoor use cases (think: retail). 5G-enabled phones will phase in over the next three years. Then, it’s off to the races.
Foursquare announced on Friday, coinciding with the ten-year anniversary of its launch at SXSW, a new feature called Hypertrending that shows users the most popular places where people are meeting up around them.
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.
Having pivoted from a location-centric social app of sorts to a location intelligence platform, Foursquare has positioned itself well to offer brands attributable marketing success and verified data points at a time when concerns about both data quality and privacy are as widespread as ever. Foursquare says it throws out about 80% of the third-party data it consumes, an act intended to preserve the quality of its largely first-party data store.
On this week’s LBMA podcast: RideYellow + LISNR, Bidooh goes to South Korea, Francesco Rinaldi’s “talking jars,” Reveal Mobile launches Visit platform, Foursquare measures TV with Inscape, Kroger finds its voice.
Every two or three weeks, we round up some of the biggest fundraises taking place in hyperlocal marketing, commerce, and tech. This week’s edition includes funding for Instana, Hopper, Qonto, and Stringr.
On this week’s episode of the Location-Based Marketing Association podcast: Innovative Foto, Airport Sherpa, Alaska Airlines goes VR, Cargo raises $22M, Foursquare for Good, Placed teams up with Adobe, Perry Ellis’s Alexa skills.
Street Fight Daily: Instagram Prototypes Giving User Location History to Facebook; Ideal Ad Time—6 Seconds?
TODAY IN LOCAL & DIGITAL MARKETING AND MEDIA… Instagram Prototypes Handing Your Location History to Facebook… Street Culture: Vendasta’s Intention Behind Job Perks and Fun at Work… Six-Second Ads: It’s All About Context…
TODAY IN LOCAL & DIGITAL MARKETING AND MEDIA… Amazon Furthers Embrace of SMBs with Storefronts… Ad Tech Now Expanding at Half Rate of Mar Tech… How Restaurants Are Using Big Data to Boost Loyalty and Stay Competitive…
Street Fight Daily: Foursquare Lands Series F, AppLift Shifts Focus from Mobile Installs to Engagement
TODAY IN LOCAL & DIGITAL MARKETING AND MEDIA… Foursquare Picks Up $33 Million Series F Investment… Behind Applift’s Rebrand, a Shift Toward Engagement… Google’s Top Ad Exec to Leave for VC Firm…
TODAY IN LOCAL & DIGITAL MARKETING AND MEDIA… Google Is Giving Up Some Control of the AMP Format… Heard on the Street, Episode 12: How Important Are Online Reviews?… After Amazon Storefronts, A Self-Service Suite of Ad Tools…
On this week’s Location-Based Marketing Assocation podcast: Dstillery’s DMaps, Estimote, Landmrk + Ariana Grande, Walmart goes VR, Accuweather + Foursquare, Frito Lay goes back to school with Alexa.
Street Fight Daily: Foursquare Teams with AccuWeather; Civil Builds Community-, Blockchain-Based Media Ecosystem
TODAY IN LOCAL & DIGITAL MARKETING AND MEDIA… Foursquare Will Fuel AccuWeather’s New Location-Based Recommendations… Civil’s Bold Plan for the News Crisis: ‘Flip the Business Model on Its Head’… The IoT Market Gap: Consumer Knowledge Low, Smart Device Ownership High…
BIG MOVES AND TOP TAKES IN LOCAL… Prime Day Showcases the Power of an E-Commerce Empire—And What It Means for Local… Why Google’s Mobile Speed Update Smells Like Trouble for Small Businesses… Simpli.fi Reaches Next Level in Precise Location Targeting…
Ritzcovan’s mission will center on “client centricity.” She’ll be tasked with optimizing Foursquare’s relationships with its clients as the company seeks to make the case that its suite of resources for brands looking to connect the digital and physical worlds is both comprehensive and indispensable.
On this week’s edition of the Location-Based Marketing Association podcast: iQiyi, Location Sciences, Foursquare + Tinder, Google Expeditions, Verve buys Receptiv, Kohl’s + Amazon returns, London goes iZettle, and new research from The LBMA.