When it comes to location data specifically, Senior VP of Product Josh Cohen is seeing Foursquare’s partners put more emphasis on the quality of data. The company’s partners are developing more sophisticated understandings of the range of data quality when it comes to location, which means Foursquare has to dedicate more resources to make sure new industry-wide expectations are met.
Shim now faces the challenge of steering a fast-growing tech business through uncertain times for data-driven companies. While location tech is a lucrative business that provides crucial insights for brick-and-mortar companies and has yet to hit peak productivity, the industry is also facing concerns of an unprecedented scale about how much it knows about the people who power its insights.
Street Fight’s charter is to educate the world on the innovation and best practices in local media, advertising, and commerce. And a key corollary to that mission is to recognize and award the innovators driving these sectors.
With that backdrop, today we officially announce the winners of the Street Fight Innovator Awards. Spanning 12 categories that represent the top battlegrounds in local commerce, winners embody the best of innovation and achievement in these areas (full list below).
Enter Phase Three. As my column’s title suggests, I would argue that the old concept of citation building has largely lost its relevance, and that thinking of the local network as a system of channels — parallel, somewhat independent sources of consumer traffic — is a more appropriate paradigm for where we are now.
In all, there are approximately 10 independent sites and site categories that together make up the primary channels where any business should be well represented in order to be competitive.
Responsible location intelligence involves practices like “stop data,” to measure users’ location dwell times, and the scale Foursquare achieves in its network of app publishers. Placed is one of the first location data players and a leader in attribution since 2011.
Now that the two companies have come together via acquisition, how does that position Foursquare for interstellar domination of the location intelligence market? It’s about greater capability and scale, say Foursquare’s Josh Cohen and David Shim, our guests on the latest episode of Heard on the Street.
Mihm to Blumenthal: Setting aside the fact that the vast majority of calls you receive from non-Google directories are from salespeople, if you’re paying for an expensive citation service with analytics, compare the non-Google numbers to your GMB Insights. It’s going to be a drop in the bucket.
It’s time that every brand, regardless of size, ask itself whether going beyond Google, Facebook, and maybe Yelp is worth paying any premium.
If a tree falls in the citation forest and no customers are there to see it, not only does it not make a sound, but Google doesn’t care that it fell.
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…