Placed began as a way to enable developers to see where their apps were being used in the physical world: in cars, near stores, fast-food venues and so on. It has evolved quickly and smartly into a location analytics company — “comScore for the real world.”
The company gets mobile users to opt-in to its panel that tracks their locations and movements (not unlike a Nielsen family with TV viewing). The process is transparent and users typically do this for an incentive or deal. They understand their movements and locations will be tracked but that their PII won’t be divulged.
Today the company announced that its panel now has “100,000 active opt-in mobile panelists with nearly 100 million locations measured daily in June.” Placed can provide demographic and other types of data to venue owners and retailers. This includes competitive information. It can also show visit frequency.
Here are some of the types of data Placed offers:
- Percent of the US population that frequented the business
- Tendency a consumer segment is more or less likely to frequent a destination when compared to the US average
- Likelihood of a consumer to visit any given business or category based on visitation to a specific business or category
Mobile ad networks and others are starting to use Placed’s panel to measure store visits and the offline lift of online and mobile advertising. There are other companies taking a different approach but trying to do something similar, which is to connect online and offline through mobile location tracking.
Placed CEO David Shim will be speaking on a panel at our Place 2013 on October 8. The session is called “Ad Tracking to the Point of Sale” and will also feature PlaceIQ and xAd.
Facebook is also doing a great deal of work in this area, as is Google (also speaking at Place 2013). In the next 2 – 3 years it will be entirely possible to broadly measure the offline impact of digital advertising at the campaign level. That will dramatically change how marketers determine ROI and may shift business models away from impressions and clicks toward CPA.