This week’s acquisition of attribution specialist Placed by social media giant Snap is reflects trend that has been gathering over the past few years: the notion that location technology is crucial to the implementation of online-to-offline marketing, the powering of artificial intelligence platforms, search, and indoor and outdoor engagement between consumers and brands.
Since geo-data is so essential to all those activities and purposes means that possessing the tools to measure and target and direct the underlying technology is raising the profile of other companies in that area of tech and software. We checked in with Brian Czarny, who was recently appointed SVP of marketing at location intelligence platform Factual, about what the week’s big deal means from his vantage point.
GeoMarketing: What does Snap’s acquisition of Placed say about the importance of location data and publishers/developers’ access to it within the wider first-party data they possess?
Brian Czarny: As marketers continue to become more data-driven and ROI focused, publishers that offer measurement tools that show a direct correlation between online campaigns and offline results can gain competitive advantage with brands.
That’s where having access to location data becomes so critical — from the initial targeting of an audience all the way through to measuring device movement for attribution – and publishers will increasingly partner with location data providers like Factual or seek to acquire the data themselves.
What this means for the entire location space / importance of location data
The acquisition is great for the entire location data market and shows the increasing importance of location data to not only advertisers in how they target audiences, but for publishers who want to offer deeper understanding of how online marketing translates to offline behavior of their users.
How are brands moving to incorporate location data into their marketing mix (understanding of customer behavior and tailoring experiences)
Brands are increasingly incorporating location data into their marketing mix and broader business initiatives. In doing so, they are gaining a deeper understanding of customer behavior, tailoring online & offline experiences, targeting the right buyer at the right time, and measuring the impact of online campaigns with real, offline results in ways not possible without location data.