What Happened
Foursquare is launching a new tool named Attribution Powered by Foursquare to help brands connect digital ads to store visits. The tool is built on voluntary and non-incentivized participation by a panel of 1.3 million Foursquare users who leave location-sharing on at all times, allowing Foursquare to track their whereabouts even when the app isn’t active. When brands launch a mobile ad campaign on websites like Yahoo and AOL or various mobile app ad networks, Foursquare sets up a test group and a control group from the aforementioned panel to monitor the effectiveness of those mobile ads in driving consumers to stores.
What Brands Need To Do
Traditionally, brands have had to wait weeks to sync credit card data with campaign data in order to determine attribution. This new tool from Foursquare can help brands link mobile ads with offline behavior, offering a more dynamic look at attribution in real time so they can adjust their campaigns accordingly. If your brand is looking for a way to connect mobile ads to store visits, this new Foursquare product should be worth checking out.
For more information on how brands can better utilize customer data to better understand shopper behavior and reach shoppers across channels. check out the Boundless Retail section in our Outlook 2016.
Source: AdWeek
