PlaceIQ Finds Client Complements In 1010data Location Analytics Alliance
"Today's deal is putting LandMark directly at the fingertips of hundreds of new brands," says PlaceIQ EVP of Business and Market Development Nadya Kohl.
PlaceIQ has struck its first platform distribution deal for its year-old location analytics offering LandMark in a deal with enterprise data management provider 1010data.
For 1010data, which manages, shares, and analyze “over 34 trillion rows of data” for 875 brands, this is the first time it is adding location data to its own platform.
The benefits to brands and agencies, according to PlaceIQ EVP of Business and Market Development Nadya Kohl, is that 1010data’s retail, CPG, financial services brands will have direct access to PlaceIQ’s location data within LandMark.
With the access to that data, 1010data’s brand and agency clients will be able to add PlaceIQ’s LandMark with any other dataset on the 1010data Insights platform, such as purchase data, search data, loyalty data.
By combining datasets, brands & media agencies can make smarter decisions about advertising, store expansion, promotions and measure the effect each has on in-store visits, Kohl says.
Solving Marketing/IT Tension
“In short, this partnership gives brands access to the data they need to answer mission critical questions about the customer journey,” Kohl says. “PlaceIQ and 1010data share a similar vision of helping brands connect and analyze data to inform strategic business decisions. We’re putting our LandMark dataset at the fingertips of data analysts who are charged with answering these questions and extracting insights that become the foundation for holistic business strategy.”
“Through 1010data, clients get the best out of LandMark and can go deeper to blend those insights with many other data sets or products available our platform like online and offline transactions, market share, weather, and shopping mall sales, just to name a few,” adds Steve Albert, 1010data’s EVP and CRO.
The deal marks the achievement of one of PlaceIQ’s goals with LandMark, namely to “create a powerful location dataset that could be accessed in any structure that a brand required, whether through direct access via PlaceIQ or through a brand’s own business intelligence tools,” Kohl says.
The partnership with 1010data is also meant to solve one of the challenges for brands when adopting new datasets: namely the age-old tension between marketing and tech. Instead of marketing and sales having to rely on the IT department to handle the burden of onboarding the data, marketing teams will have the ability to manage the information packages on their own.
“Today’s deal is putting LandMark directly at the fingertips of hundreds of new brands, on a platform where it can interact with other datasets in an easy-to-digest format,” Kohl says. “We’re honored to have been selected as location data provider of choice for their platform.”
Some potential use cases for the combination of LandMark with 1010data’s insights include:
- Understand share-of-visit in context of market planning or geographic areas.
- Merge purchase insights with customer analytics insights.
- Analyze the performance of existing merchandising strategies against real time visitation.
- Use visits to better understand and optimize the supply chain process
- Define pricing and promotional strategies based on both purchase and location data
Three things set LandMark apart for 1010data, Albert says.
“The first is commitment to data quality — PlaceIQ has high standards for what they consider to be reliable movement data,” he says. “Second, it has a highly accurate understanding of the physical world that is difficult to replicate. Third, the LandMark syndicated data set is optimally designed for 1010data clients’ needs–to understand consumers, merchants, and visits.”
For PlaceIQ and 1010data, the deal also allows for a complement in their respective reach to specific kinds of clients. It helps extend PlaceIQ’s existing presence with 1010data’s retail, CPG, dining, finance clients, while also giving the location data specialist the opportunity to work with 1010data in additional subsets of financial services companies as well as real estate.
“Consumer location data is a critical input to help brands and merchants understand and monitor rapidly changing consumer behavior in order to identify ways to improve performance,” Albert says. “With LandMark, our customers will get deep visibility into the quickly evolving trends of where, when and how people shop and buy.”