Adsquare, a mobile-centric data exchange platform for advertisers, is offering its clients more granular audience segmentation with the help of Here, the mapping platform, for geofencing campaigns.
Location data has gained some steam in mobile advertising, especially in targeting audiences based on zip code or a specific street. Still, brands and advertisers haven’t fully embraced location data yet. According to eMarketer, only a quarter of mobile marketers are using location data at present. And, as with other data sets, the advertising industry has struggled with accuracy in location data.
Geofencing, which enables marketers to deliver specific ads to consumers within very, very specific geographies, has been under the spotlight in recent months as the next big data tool in mobile local marketing. Geofencing ad campaigns are a flavor of local marketing that’s sometimes referred to as hyperlocal marketing. Here is one of the most far reaching mapping systems, substantially more accurate than Google Maps outside the US, and can offer this on a global basis. Its maps are being used for global personal navigation and as a basis for self-driving cars. It began a US based system, was acquired for $8 billion by Nokia and sold recently for around $3 billion to a consortium of car manufacturers in Germany.
Geofencing enables marketers to target mobile users by where they are physically, in real time. In the advertising ideal, a coffee shop marketer would be able to target all consumers who are using their mobile devices as they walk by the coffee shop for a daily special on iced tea, for example.
“In a classic geofencing campaign, you target a location defined by latitude and longitude,” said Adsquare’s VP of marketing, Daniel Rieber, in an email. “In addition to this location point, you define a radius, e.g. 500 meter. Every person, who is in the radius with the building in the center, will receive the defined ad.”
If you go back to the early noughties, advertising by location was meant to be one of the key things that 3G brought, although very little of that ever panned out. This is the first foray into location advertising from Here.
Here’s 2D mapping technology gives geofencing campaigns an added boost in precision: the map is able to precisely map the dimensions of buildings. “With building data on a vector level, we do not only know the center of a building, we also know the exact shape,” Rieber said. That extra information, Adsquare claims, will help marketers more precisely target consumers.
Here maintains a global database of 2D building footprints, polygons and venue maps across 120 countries. It collects location data across thousands of sources, including social media networks, business listings, search engine optimizers and crowd sourcing. The platforms uses machine learning to identify locations accurately geocoded to its Places Extract map service. Here purports to have some 70 million places mapped to its service.
“The added granularity enabled by the Here Reality Index enables our clients to run even more precise mobile campaigns and advanced analytics,” said Tom Laband, CEO and co-founder of Adsquare.
Adsquare will make that data available to its clients on its data exchange platform, which is used by the likes of Verizon’s new Oath digital advertising division. The platform is also integrated with DSPs such as TheTradeDesk, AppNexus and Google’s DoubleClick Manager.
Geofencing advertising is used for things like “mobile moment marketing” – a flavor of mobile marketing that aims to deliver contextually relevant advertising to consumers when they are using their mobile phone to achieve something – whether that’s to look up something, or find something on the map. Mobile moment marketing works by using datasets like historic location data and purchase history to help determine which ad would perform best at that given moment.
Adsquare will add Here’s 2D mapping data, which can accurately determine the shape of buildings, for more precisely targeted geo-fencing advertising campaigns that can be leveraged in “moment” advertising. This type of advertising might be used for advertising special offers while consumers are inside retail stores, for example. A brand may even target a competitor’s customer by delivering an ad while the customer is at a rival store.
Geofencing targeting is already an order of magnitude more precise than local marketing campaigns that target down to zip codes or specific streets, and adding in the additional accuracy of the building shape seems to be an incremental increase in that precision.
Adsquare claims Here’s 2D mapping data will also help advertisers better understand consumers’ real-world behavior in order to deliver more relevant advertising to consumers. That might include attributes such as measuring brand lift with in-store visits, or closing the loop on advertising “journeys” that start via mobile ad and possibly end in a physical store.