Foursquare is teaming up with Nielsen to track the offline attributions of online ads, especially in terms of how they drive consumers into stores. As part of the partnership, Attribution by Foursquare will be integrated into Nielsen’s digital measurement products. This will generate real-time behavioral insights of anonymized consumers for customers of Nielsen’s measurement products, allowing them to measure the real-world impact of their digital campaigns.
What Brands Should Do
In the past, marketers would turn to Foursquare for measuring increases in foot traffic and go to Nielsen to measure in-store spending. Now with this integration, brand marketers can judge the effectiveness of their online campaigns in one place with a more streamlined process. As more and more brands come to realize the importance of location data in measuring the full impact of digital campaigns, more and more ad platforms such as the ones from Google, Facebook, and Snapchat have all made efforts to team up with location data providers and improve their capability in tracking offline attributions. More brands may benefit from this trend and should take note of new tools as they become available.
Snapchat is set to improve its location-based ad products by striking a data deal with local discovery and recommendation service Foursquare. This deal will provide brand marketers with access to Foursquare’s location data, allowing them to serve branded Geofilters in a more targeted manner. According to Snapchat, the deal will open “thousands” of locations and categories, such as parks or museums, for brands to buy ads against.
In related news, Bloomberg reports that Snap Inc., the parent company of Snapchat, has confidentially filed for its IPO after months of speculations. The company is reportedly seeking seeking to raise as much as $4 billion at a valuation of between $25 billion and $35 billion, making it the largest U.S. technology IPO since Facebook’s debut in 2012 with a value of $81.2 billion.
What Brands Should Do
With this partnership, Snapchat has shown once again it is keen to partner with ad tech companies in order to meet brand marketers’ increasing demand more data and measurement for digital campaigns. With improved location data, Snapchat advertisers can now better tailor their campaigns in more granular way to reach their targeted audience. For example, a retailer may zero in on a specific store location inside a mall with an on-premise exclusive Geofilter to encourage store visits.
As Snapchat continues to improve its ad products to match its rapid growth, brands need to consider getting on Snapchat to reach its young-skewing users via not only standard video ads, but also more unconventional ad units such as custom Geofilters and branded selfie lenses.
Source: AdWeek & Bloomberg
Foursquare debuted an offline tracking tool named Attribution Powered by Foursquare in February, and now the company is adding a dashboard to the system to offer brands real-time insights. The dashboard features audience metrics including locations, age groups, gender, customer loyalty, and marketing category, and it aims to help brands tie the performance of their digital ads to real-life store visits. So far, 55 brands have signed up to use this offline attribution tool, including Anheuser-Busch, Peet’s Coffee, and Blue Bite.
What Brands Need To Do
As we pointed out when it was announced, this 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. By adding the dashboard, Foursquare is providing brands a more direct way to gauge how their ads are driving foot traffic to stores. If your brand is looking for a way to connect mobile ads to store visits, this Foursquare product may 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.
Foursquare is jumping on the chatbot bandwagon with a new app called Marsbot, which learns about a user’s preferences for restaurants and bars from their Foursquare location data and recommends new places that fit their tastes via a text interface. Unlike most existing chatbots, however, Marsbot does not need users to initiate the conversation. Instead, it is designed to send out contextually relevant recommendations to users unprompted and gather feedback to enhance its future suggestions. Foursquare released Marsbot on the App Store on Tuesday, and says the app is still in an “early testing stage” so users are instructed to sign up for a wait list.
Why Brands Should Care
This new app from Foursquare provides an interesting example of a use case for chatbots as it reframes push notifications in a conversational interface. Unlike other local search and recommendation apps, the Marsbot app aims to capture user attention and engagement with relevant messages delivered via a text interface that most smartphone users are fond of. For brands vying for consumer attention on the increasingly crowded mobile space, it is important to create a touchpoint in environments that consumers are already familiar with.
For more information on how brands can effectively reach consumers on messaging apps and other conversational platforms, check out the Conversational Interfaces section in our Outlook 2016.
Source: Tech Insider
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.
Local search and discovery service Foursquare is adding a new feature to its app. User can now order from any restaurant that supports orders via Delivery.com, which includes over 10,000 businesses across the United States. The new feature works through the deep-linking platform provided by Button, which also integrates services like OpenTable and Uber. This means that although users can see the menu and prices in Foursquare’s app, they will have to switch to delivery.com’s own app (and install it) where they can complete the purchase.
What Brands Need To Do
Delivery.com is but one of the many on-demand local delivery services, as it faces strong competition from the likes Postmates, DoorDash, and Uber, which is reportedly buidling a separate app for UberEats. So partnering up with a local discovery app is a smart move to increase its reach for Delivery.com. For local businesses, this integration means one more channel to reach out to mobile consumers and keep up with their growing demand of on-demand fulfillment.
Source: The Verge
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Today Foursquare unveiled its newest ad platform, Pinpoint, which enables brands to target Foursquare users based on where they’ve been. The platform isn’t limited to Foursquare’s apps, as the company expressed interest in opening it up for a “verified ecosystem of apps, exchanges and publishers” in the near future. A prime example of leveraging its vast user-generated location data into consumer insights, this should provide a new revenue stream for Foursquare.