12 Questions Every Buyer Should Ask about Location Data
We recently found a guide from the IAB on buying location data that is still relevant today. The convergence of place based audiences (merging device data and places/point of interest) is driving high ROI for advertising campaigns. Understanding the source of the raw data plus the human element involved in matching those latitudes/longitudes to a place is important. Circles or polygons? That’s the level of location discussion today. Contact Skydeo to learn more about our rapidly growing mobile location data and places audiences.
1. What is the source of your “place” information (i.e. data about what businesses, points of interest or addresses are found at specific lat/longs in the physical world)?
2. What is your overall share of 1st vs 3rd party place data (E.g. Do you have a proprietary mapping system/address data or utilize a 3rd party database)?
3. What is your approach to organizing places/place data (E.g. polygons, geo-fence radii, etc.)?
4. How precise is your place information (E.g. are you able to discern the location of a specific store in a mall versus the parking lot)?
5. How comprehensive is your place information (E.g. What percentage of business, addresses, or points of interest do you have place data for)?
6. How do you qualify and/or verify your place information? For example, how do you address the scenarios below:
a. How do you compensate for bad addresses?
b. Do you have a way to account for recent opening and closing of locations?
7. What are your sources of device location data (i.e. data used to locate a device) and how do you receive that data?
a. E.g. 1st party (O&O properties/servers), direct 3rd party deal/relationship, impression/ exchange data, etc.
8. What types of device location data do you use?
a. E.g. Device GPS, cell tower/triangulation, user-reported (check-in), user-reported (registration), Wi-Fi, IPS, beacons, low power Bluetooth, zip – local content, centroids, NFC, etc.
9. How do you identify and filter out the types of targetable location data that are not appropriately accurate for my campaign’s needs?
10. How long is your location data stored/considered relevant?
a. Is your device data time stamped?
b. If you offer dwell times, how are these calculated?
11. How do you verify/substantiate that the device location data you are using is accurate?
12. What is the scale of your device location data?”
According to Geekwire: Snapchat parent Snap has acquired Placed, a Seattle-based startup that operates a consumer location analytics platform.
GeekWire first learned of the acquisition last week, and made inquiries to the company, which at the time did not want to discuss the deal. Sources close to the deal pegged the purchase price at more than $200 million, marking a potentially large outcome for the original investors and early shareholders. It’s also one of Snap’s most expensive acquisitions to date.
Founded in 2011, Placed raised $13.8 million from Madrona Venture Group and Two Sigma Ventures. Board members include Shim; Matt McIlwain; David Joerg; and Brian McAndrews.
Placed CEO and co-founder David Shim will stay at the company, and will report to Snap Chief Strategy Officer Imran Khan.
“Over the past 12 months, Placed has measured more than $500 million in media spend to store visits, across thousands of campaigns and hundreds of partners, cementing Placed as the leader in location-based attribution,” Shim wrote in a blog post shared with GeekWire on Monday afternoon. “By partnering with Snap, we will do even more.”
Location Attribution and Measurement
Skydeo provides place based audiences and location based services. Contact us to learn more.
Gartner Group released its Magic Quadrant for Digital Marketing Agencies. Skydeo is happy be to working with at least one agency from each quadrant! Skydeo helps agencies better support their clients by providing rich mobile insights and behavioral analysis on over 2.5 billion mobile data points.
Audience segmentation for programmatic targeting or raw data feeds to power trading desks are common use cases. We typically start off by collaborating on a few clients campaigns and expand quickly to the data science teams. Contact us if you’d like to learn more.
One of the intriguing topics in this year’s report was the emergence of consultancies. According to Gartner:
The agency push to support business results doesn’t reduce their creative focus. Agencies recognize that even the best digital transformation strategies and technology integrations won’t work without a compelling creative layer to bring them to life. As traditional market players boost their business consulting capabilities — as MRM//McCann is doing with its emerging change management services — we see consultancies hiring creative leadership away from agencies. In some cases, firms lauded for their analytical prowess — Deloitte Digital, IBM iX and Accenture Interactive most notably — are acquiring entire creative shops.
The challenge for the management consultancies — one called out by traditional agencies as a competitive weakness — is culture. How do hip creative types find inspiration from, and cultural cohesion with, their more traditional consultancy colleagues? Can these disparate approaches to strategic thinking and tactical execution be forced into a seamless solution for clients? The answer may lie in allowing those cultures to coexist, but not to merge them.
New Agencies that made the list:
- Huge, an Agency to Watch in last year’s Magic Quadrant, was added as a result of its revenue growth, which now exceeds the Magic Quadrant Inclusion Criteria minimum of $175 million.
- Merkle continues to invest in creative services and now offers a complete full-service digital agency solution for marketers.
- Epsilon ranks as the largest U.S. agency by Advertising Age. It now complements its core strengths in data and marketing operations with full-service digital marketing agency solutions for its clients.
- Proximity, part of Omnicom’s BBDO, offers full-service capabilities and meets all Inclusion Criteria.