The move comes at a time when location marketing competition is heating up as the number of major players in the space winds down. Foursquare is widely recognized as the leader in location, especially after its merger with Factual earlier this year. PlaceIQ acquired Freckle IoT. X-Mode bought Location Sciences’ location data assets.
With the boost of NinthDecimal’s tech, talent, and partnerships, InMarket is better positioned to compete.
More than just a niche market inside the retail vertical, grocery marketing has grown to become an industry unto itself. According to eMarketer, grocery is the “least penetrated but fastest-growing category” in e-commerce. Explosive growth, fueled in part by the rising popularity of online grocers and on-demand delivery services, like Instacart, that deliver goods from brick-and-mortar stores, is behind the prediction that the grocery retail market will reach $12.24 trillion globally by 2020.
CPG brands and supermarket chains have been quick to adopt vertical-specific marketing platforms and tools. Although there are plenty of local retail marketing solutions that could be adaptable to the grocery industry, the supermarket itself is a unique environment and that makes verticalized solutions even more desirable in this arena.
As the industry continues to evolve, Geopath’s Kym Frank predicts that two-way communication between cars and advertisers will become even more commonplace and OOH strategies that involve connected vehicle data will be the norm among major brand advertisers.
“The car itself can communicate with digital displays to trigger optimal creative, and the billboard can communicate with the dash to trigger in-app ads,” Frank says. “We are at the very beginning of seeing what is possible and measuring those impacts.”
On this week’s Location-Based Marketing Association podcast: InMarket acquires Thinknear, Google Assistant lets you send reminders to others, Kraken Rum’s dining experience in London, Wirecard launches app in North America, Nike buys Celect for data science, Infiniti teams up with JCDecaux in Russia.
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Cameron Peebles, CMO of InMarket, emphasized that data should not just be used for attribution — to prove past ad placements have worked — but also to predict future consumer patterns and increase long-term marketing success. “Consumers don’t live their lives in points; they live their lives in patterns,” Peebles said.
In-store advertising vendor inMarket is expanding its offerings to agency trading desks this morning, with the announcement that it’s opening up its Audiences segmenting product as a self-service solution. Beginning today, agency bid desks will be able to use inMarket’s reservoir of first-party location data to enable hyperlocal targeting.
Despite fears of the disruption that new business models and technology bring, these are can be opportunities for brands to better understand and engage with consumers, said Cameron Peebles, CMO for inMarket. He shared his company’s insights in a Street Fight webinar yesterday alongside The Integer Group’s group media director, M.K. Woltz.
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