Without pixels, marketing in the digital world would be a guessing game. However, with 90% of all commerce still taking place in the physical world, oftentimes marketers find themselves in the dark, not knowing how their customers are interacting with their brands offline. Enter location intelligence, or as we like to call it, pixels for the real world.
Take a moment to reflect on the past few weeks. Did you stop at a coffee shop on the way to work? Did you work out on specific days of the week at a nearby gym? Are there restaurants you frequent when you are too lazy to cook at home? In a study, published in Nature Human Behaviour, researchers found that people frequent up to 25 places at any given time period. Similar to marketing pixels placed on websites, the ability to understand physical, real-world behavior such as path-to-purchase, visitation patterns, day-of-week preferences, and daily activities fuels more strategic decision making.
Location intelligence has become an important but crowded sub-sector of local media and commerce. When it comes to value for retail brands, marketing tactics are all about driving (and measuring) foot traffic. This is where Paris-based location marketing and analytics company Teemo continues to innovate.
As we discussed with CEO Benoit Grouchko on the latest episode of Heard on the Street, the company works with multi-location brands like JoAnn Stores to boost return on ad spend by growing physical foot traffic.
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.
The amount of location data can be overwhelming, making it difficult to understand when to use what information. Even the most experienced marketer can lose sight of the basic principles that guide successful use of location intelligence tools.
Based on our 11 years of experience helping mobile apps leverage the context of their users, we offer the following 10 commandments that every marketer working with location intelligence should keep top of mind to drive a successful marketing strategy.
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.
Michelle Zhou: Location data can provide far better optics into consumer behavior than traditional data streams. Data from smartphones, social media, and other sources can track consumer purchases and migration in real time. Using data trends and insights, businesses can develop a comprehensive understanding of their customers and make the most informed business decisions.
It’s remarkable to see how often Foursquare data is popping up today in the apps that garner the most consumer traffic and press attention. These votes of confidence would seem to solidify Foursquare’s position as the forefather of natively digital location data.
Building on an ongoing relationship, PlaceIQ and market research company IRI have announced a new partnership that brings insights on location and shoppers’ behavior to the consumer packaged goods sector.
Image and video hosting website Photobucket is the latest tech brand that’s going local. The company announced today that it is partnering with location intelligence firm Cuebiq to understand users’ offline behaviors and provide them with a more relevant experience.