Despite the growth of e-commerce, US Census data shows that more than 90% of consumer shopping still happens in the real world, a significant portion of which is consumer packaged goods (CPG) spanning health and personal care, cosmetics, packaged grocery items and more.
As so much of this activity takes place offline, tying together an understanding of where people shop and what they buy is key to helping CPG companies understand their customers and how to better reach them through advertising and how to measure effectiveness of that advertising.
Today, we're excited to announce a new, exclusive partnership with InfoScout, a purchase panel insights company, that will allow national CPG brands to leverage this powerful combination of place and product. Foursquare and InfoScout have joined forces to create a first-of-its-kind solution that combines the power of Foursquare's location intelligence with InfoScout's industry-leading purchase panel so that CPG brands can better identify, reach and measure current and prospective customers.
The partnership is a unique one for Foursquare, as it involves three of our industry-leading enterprise and advertising products: Pilgrim SDK by Foursquare, a proprietary technology that understands background mobile location; Attribution by Foursquare, which can measure the real world foot traffic impact of any digital ad and Pinpoint by Foursquare, which targets ads to consumers based on where they go in the real world across over 150 million devices nationwide.
Jared Schrieber, CEO & Co-founder of InfoScout added: “We're very excited about our new partnership with Foursquare and the benefits it brings our clients. Through the integration of Foursquare's Pilgrim SDK, we'll be able to more comprehensively profile our panelists and offer market-leading solutions like our combined visit and sales lift media measurement product."
Here's how it works: InfoScout integrated Pilgrim SDK by Foursquare into its mobile apps which capture receipt images from over 300,000 people making approximately 350,000 purchases per day.
The combination of technologies results in a complete overlap between the InfoScout purchase panel and Foursquare's location data to create a comprehensive understanding of where people go when they shop, and where they go when they don't.
Attribution by Foursquare allows brands to measure visit and now with InfoScout, purchase lift for their digital advertising campaigns. As always, user data is anonymized and aggregated, but now we can offer insightful macro trends on CPG purchasing that these brands can learn from in order to iterate and evolve marketing plans and tactics.
Foursquare has also built a new location modeling solution that takes data on purchase behavior from InfoScout and builds out dynamic targeting models within Pinpoint by Foursquare based on the venues where those brand loyalists shop most. Now these CPG advertisers, who have in the past relied on small-scale panels, can better understand consumers who enjoy their products, with insight into their real-world behavior. Are they gym fanatics? Fast food junkies? Parents visiting schools and camps?
Want to learn more about how Foursquare's new partnership with InfoScout can inform your marketing plans and advertising buys? Contact us at email@example.com or visit https://enterprise.foursquare.com/.