PlaceIQ And LiveRamp Partner On Creation Of Location-Based Audience Segments
"The true value of this deal is the ease in which marketers can tap into an omnichannel customer understanding," says PlaceIQ Biz Dev Head Nadya Kohl.
In a sign that shows geo-data replacing the tracking cookie and even demographic profiling, PlaceIQ is expanding its alliance with consumer data matching provider LiveRamp to establish distinct audience segments based on their real-world locations.
While PlaceIQ has struck a number collaborations with analytics platform companies like 1010data, comScore, Nielsen Catalina, the geo-data specialist says this is the first time it will offer its location-based audiences through LiveRamp’s IdentityLink Data Store feature.
The recently released IdentityLink Data Store offers “unique, people-based audience data from industry leaders,” LiveRamp says.
The two companies say that this extended work will solve marketers’ other pain point besides determining whether an ad drove a store visit: creating a valuable “customer experience.”
In explaining the value of this audience data integration, PlaceIQ cites Accenture Strategy Global Consumer Pulse Research that found 50 percent of U.S. consumers said they switched companies they buy from in 2017 because of poor customer experience, and 41 percent citing “poor personalization” as a key reason. Through this partnership, consumers can expect to see more personalized cross-channel experiences.
“The true value of this deal is the ease in which marketers can tap into an omnichannel customer understanding — to do so requires the marketer to be able to make reliable connections between the customer interactions across physical and digital channels,” Nadya Kohl, EVP of Business and Market Development, PlaceIQ, tells GeoMarketing. “I deem it critical for effective personalized, measurable marketing. We chose to partner with LiveRamp Identity Link because people-based marketing is a key tenet for them.”
In terms of further explanation, LiveRamp’s IdentityLink Data Store allows brands to discover “syndicated audience segments, custom segments, or license data” from more than 125 major data providers for “advanced use cases.”
“We’ve spent more than seven years building and refining our location-based audiences, and seen them benefit from very strong adoption,” Kohl adds. “Expanding our LiveRamp partnership was a natural next step – it is another important milestone for our continued proliferation throughout the marketing ecosystem via one of the most trusted data providers. Their “seal of approval” is meaningful to marketers – and we work hard to align our brand with other companies that also place brand safety at the top of their list of ‘care-abouts.'”
In Kohl’s views, PlaceIQ is just building on a long history of partnership with LiveRamp. About two years ago, we partnered with LiveRamp to publicly announce results from a series of “industry-first” addressable TV campaigns.
“Since introducing IdentityLink last year, we’ve added significant and consistent value for our customers by onboarding noteworthy datasets,” Luke McGuinness, GM, Data Store, LiveRamp, tells GeoMarketing. “After working with PlaceIQ closely for many years, we recognize the addition of PlaceIQ data as a ‘big win’ in terms of an addition of a high quality data set for the IdentityLink Data Store. When combined with the wealth of other data sources available there, marketers are getting a holistic view of the customer journey that is privacy-conscious and powerful.”
Moving forward, this expanded relationship will continue to open up new doors for brands, by connecting PlaceIQ’s visitation data (Visit Stream) to brands that want access to it, via LiveRamp,” Kohl says.
“This will ensure all of their customers can quickly access an “always on” methodology for real world measurement. Our joint goal is to make sure that practical or tactical barriers don’t stand in the way of great marketing initiatives.”
“PlaceIQ offers more than 2,000 unique audiences, based on detailed analysis of visitation to real-world points of interest, across industries, including auto dealerships, dining establishments, entertainment venues, retail locations, travel destinations and more,” Kohl continues. “With PlaceIQ, marketers can leverage these syndicated audiences, or build custom audiences, to easily engage with people that are in market for a new car, frequent breakfast diners at a particular quick-service restaurant, frequent business travelers, big box retail shoppers and more.”