The huge demand for location-based data across the advertising industry prompted Foursquare to form two data partnerships in the past several days demonstrating the company’s growing strategy to support businesses.
“Think of nationwide campaigns,” says Oz Etzioni, CEO of Clinch. “They don’t exist anymore since the pandemic. Everything must be localized.”
COVID-19 lockdown rules differ in every state. Even when executing a nationwide campaign, brands still must localize messages based on the experience of consumers. Location-based data seems to be the answer, he said.
Clinch, which works with some of the largest automotive, retail and CPG companies, partnered with Foursquare to bring its customers enhanced attribution measurement to omnichannel dynamic creative optimization.
The partnership will allow advertisers to measure foot traffic driven by digital campaigns across retail store locations, restaurants, car dealerships, and other locations.
It’s not only about measuring performance online, but also offline, Etzioni says. “It’s crucial to connect the dots to determine the effects,” he says. “Offline is much more complex.”
More advertisers are measuring performance between online searches and offline sales. In the automotive industry, Clinch can serve up online the most relevant content about specific cars, as well as nearby dealerships, as well as measuring whether the consumer saw the ad and clicked on it.
Clinch also can track whether the consumer went to the dealership to test drive a car after seeing the ads.
This announcement comes on the heels of several successful product launches from Clinch, including Clinch Shoppable Video Ads that the company says garner higher engagement rates than retargeting display ads, and Xenon, a video rendering technology that aims to save time and reduces rendering costs by 90%.
Snowflake, a third-party data provider, partnered with Foursquare, making Places, point of interest data, and Visits, consumer behavior location data, directly accessible in the Snowflake Data Marketplace.
The partnership lets Snowflake customers access, analyze, and use Foursquare data in their cloud environment.
The integration of Foursquare’s location data signifies the growing customer demand for building strong data sets.