xAd Rebrands As GroundTruth In Expansion Effort To Broaden Location Data Services Beyond Ads
'The rebrand represents our desire to strip away the complexity around our technology to clearly demonstrate how people across many industries can benefit from these services,' says GroundTruth CMO Monica Ho.
As the location technology landscape continues to grow amid rising demand to power technologies such as artificial intelligence and a wider array of industries such as real estate and healthcare, xAd has decided to rebrand itself and will now be known as “GroundTruth.”
The new name reflects the 8-year-old company’s evolution from its origins as a hyperlocal ad mobile ad network to a programmatic location marketplace.
Now, with the rechristening, the company seeks to broaden its vision amid an international expansion and last February’s acquisition of its first consumer-facing tech property, the meteorological info service Weatherbug.
As GroundTruth, xAd is also vowing to “decouple” its advertising and media sales services from its location data analysis so that its insights can stand on their own.
“The name xAd was too limiting for our business,” said Dipanshu “D” Sharma, CEO of GroundTruth. “The power of location data doesn’t have to be limited to media and can be realized in other applications from real estate, traffic and out-of-home planning to layering in weather to determine its impact on visits, something we recognized after acquiring WeatherBug. As GroundTruth, we’re able to realize our ambitions beyond media.”
According to the plan, GroundTruth will continue to support marketers and agencies through products like its geofencing data visualization tool Blueprints, which debuted in 2015, and Footprints, which rolled out in 2014 to provide real-time data on consumers’ mobile movements near brick-and-mortar businesses.
Just last month, xAd initiated its new performance-based ad format, dubbed Cost-Per-Visit, which guarantees marketers’ ROI, since they don’t have to pay unless their ad generated a walk-in.
“As a brand, xAd represented ‘location advertising’ with ‘x’ being ‘x marks the spot for advertising,’” GroundTruth CMO Monica Ho told GeoMarketing. “But we found over the last year-and-a-half it actually became limiting. People, especially those professionals who were not often involved in our category, struggled with what the name was.
“When we explained the vision of the company, we always focused on advertising primarily,” Ho continued. “But the rebrand signifies the evolution of our product set and our offerings. It also represents where we want to go as a company in terms of making core investments and sharpening our strategic focus.”
The Rebranding Process
The rebrand was produced in collaboration with global brand strategy firm, Siegel+Gale. Aside from the new name, visual identity and there is something of a brand position in the form of a dictim: Build off something real.
While the challenge of switching gears is always a daunting gamble for an established brand, the company says the timing couldn’t be better: GroundTruth picks up from xAd with a first-party database of 95 million active monthly users and 17 million active daily users, across 100 million places and points of interest across 21 countries — in other words, it has significant reach and scale.
In terms of employee growth, xAd had 83 employees at the end of 2013 and 450 employees at the end of 2016 — before the purchase of Weatherbug. Meanwhile, since its launch in 2009, the company now known as GroundTruth has raised about $116 million over six funding rounds, according to Crunchbase.
The process for remaking the brand name and positioning began about 10 months ago, Ho told us.
“We needed a brand and a platform that represented our larger story and gave us the room to grow in the future,” Ho said. “But we also thought long and hard about name that would accurately and fully represent the ideals and values of the company.”
And how was GroundTruth decided on as the new name?
“We thought GroundTruth was perfect, simply because it represented a ‘fundamental truth’ about seeing things from the ground level and up,” Ho said.
Third-Party Verification Secured From InfoScout
In addition to widening its view on serving clients outside of the confines of ad campaigns, GroundTruth commissioned market researcher InfoScout to verify “the precision and coverage of its data” at select retailers.
According to the independent survey based on a representative U.S. panel, GroundTruth is able to interpret physical location with more than a 90 percent accuracy rate. The “Accuracy Audit” analyzed 10,000 matched panelists who shopped at a sample of key retailers, consistently submitted receipts to InfoScout, and used location-based services via GroundTruth.
“InfoScout has the largest purchase panel in the U.S.,” Ho said. “We matched our data with InfoScout’s purchase panel, which represents 1 out of every 500 retail visits in the U.S. We were able to see 1 out of 3 retail visits that we saw in our platform and matched it to their purchase receipts.”
The importance of third-party verification was a crucial step in the process of transforming xAd as a media sales marketplace based on location to being a provider of data and insights based on consumers’ geospatial patterns. After all, clients don’t trust a partner who simply “grades their own homework.”
As a media seller, xAd relied on its five-year partnership with attribution specialist Placed — which last week was acquired by Snap — as well as online audience measurement firm comScore to verify its the location data that powered its ads. But as it looks to build a business beyond those industry ad metrics, it needs to maintain an ongoing system that can say whether or not its location tech is accurate.
“When we’re interpreting the location data that comes across our system, you need to be able to differentiate whether that person is in a Target store or if they’re nail salon next door,” Ho said.
In just its early trial period, GroundTruth has “made significant headway” in brand safety, assessing viewability, and guarding against ad fraud, Ho said. The company will to continue to investment in third-party verification and validation of not just its data, but GroundTruth’s entire platform.
“InfoScout is just the first step in that process,” Ho said. “There will be more coming,” she added, possibly hinting that GroundTruth may be accredited by the Media Ratings Council, which was established by Congress in the 1960s to serve as a watchdog for TV ratings’ validity in the use of broadcast advertising. The MRC has since gone on to serve as a clearinghouse for all manner of ad measurement procedures, including online and mobile, and recently oversaw the IAB’s geo-data and location ad standards.
(Location) Data As Service
The emergence of Data-as-a-Service, as a more narrow adjunct to software business models, is particularly important in the location space. As different signals provide varying levels of actionable intelligence, data quality and accuracy remains a major issue for tech company’s clients.
Perhaps more than any other targeting or analytics capability, getting location wrong even by several feet can severely diminish the value of geo-data.
As Sharma, who also founded xAd, has described it, location technology is a utility that can not only tell all kinds of vital details about a business’s place, as well as who’s been there, but it can intently extrapolate deep knowledge about consumers’ behavior and shopping profiles as well as power connected intelligence devices’ responses to users’ queries.
“Data and insights have always been a part of the company,” Ho said. “But in the past, we’ve always forced the data/insights together with a media and ad sales component. The rebrand marks the fact that we’re ready to decouple data/insights from ad sales.
“We will always offer a data and targeting solution” Ho said, referring to the above-mentioned products like Blueprint. “But the way the category is unfolding, and marketers and agencies, as well as areas outside of those buckets, such as analysts, can use our data on its own. And this is about allowing that flexibility.”
Scratching The Surface
Both Blueprint and Footprints were core technologies at xAd and they’ll certainly remain so at GroundTruth, Ho said.
“We only scratched the surface in the past, because these technologies were always tied to media purposes,” she said. “So we want to continue to invest in our core tech, but in different ways based on the variety of audiences we see as potential customers.”
As for how products like Blueprints will evolve under GroundTruth, Ho described it as something that’s always been an internal tool that to integrate accurate mapping data with its location targeting.
“In the future, we’ll expand Blueprints to be more open, more crowdsourced,” Ho said. “In those future cases, one of our partners or someone outside our category could look at location data and unique segments, we’ll let them identify the area they’re looking at. From there, they’ll be able to pull unique, custom data sets and behavioral insights from something like Blueprints.”
As it has in recent years, GroundTruth will have a presence at this coming week’s international gathering of the global ad industry in Cannes.
But don’t expect a heavy marketing effort to ensure the name is known far and wide, Ho said.
“We’re going to communicate to our existing client base,” Ho when asked about the communications effort around this move. “But the next few months will be an internal focus for the most part.”
In the meantime, GroundTruth will steadily seek to expand its work in non-ad areas. While real estate, health care, traffic/smart city planning has generally been far afield from the company’s purview, Ho is quick to note that projects in those categories is not at all unfamiliar work.
“Real estate is not necessarily a new area for us,” Ho said. “But we’ve have certain scenarios come up in the past, where we’ve been asked to provide store planning. Or analysts have asked us for behavioral data and insights tied to certain places. We’ve had so many opportunities, but at the time, we chose not to invest further. Now, with the new brand, and the new technology focus on data-based solutions, we’re really diving in to coming to market with a new set of offerings and products that can address issues not tied to advertising.”
Just as with its promotion of the new brand and direction, GroundTruth is not in a feverish rush to get its positioning solidified within a month or two. As Ho noted, it will take time to sink in both for its staff and the wider marketplace of new and existing clients and allies.
“This is a big change,” Ho added. “Our move into data and insights is an important one. And until our employees really embody and feel empowered by the brand, that’s when we can make good on this new promise and direction. There will be a bigger marketing push later in the year. There is a lot more to come.”