Mastercard is teaming up with location intelligence firm PlaceIQ to offer brand marketers valuable consumer insights by combining purchase data with consumer behavior in the physical world. The partnership aims to combine Mastercard Audiences data with PlaceIQ’s proprietary location data and targeting tools to help retailers and businesses link what people buy to where they go in order to better understand their customers. The data from both parties will be anonymized and used to create segments that retailers and brand marketers can buy against to improve their ad targeting.
What Brands Need To Do
Offline tracking and attribution appear to be a hot trend in digital advertising right now as major players such as Facebook, Snapchat, and Foursquare all recently released their own offline attribution tools to court advertisers. By bringing purchase data from Mastercard into its ad platform, PlaceIQ is offering brand marketers a new targeting opportunity to reach their desired customers. While still a relatively new practice, offline attribution has quickly become a crucial part of digital ad measurement, especially for retailers and CPG brands. Therefore, brands should take a data-driven approach towards their digital marketing efforts and take note of the new tools as they become available.