According to a new report released by the location-driven insights firm Placed, accuracy has fallen by the wayside in the rapidly expanding location-based advertising industry, which is estimated to reach nearly $30 billion by 2020. Placed’s analysis found that just 1% of locations are accurate enough to identify a store visit.
In the six years since Street Fight was founded, companies in the local sector have popped up at a breakneck pace and are now being snatched up just as fast by their competitors. To break down this issue, Street Fight CEO and founder Laura Rich sat down with four experts in tech, SMBs, and mergers and acquisitions at Street Fight Summit Tuesday.
Digital media company Captivate announced today that it is teaming up with location analytics firm Placed to measure when consumers visit in-store locations after seeing digital ads in elevators. Consumers exposed to Captivate’s digital screens are cross-referenced with Placed’s app users to offer a new location visit measurement KPI.
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Location analytics firm Placed today is launching a new app that allows consumers to share their location data in exchange for frequent flyer miles. The Frequent Flyer app, with its explicit value exchange for consumers, has the potential to show how effective mobile ads can be in driving in-store purchases.