Foursquare Launches Self-Service Audience Segments
MillerCoors signs on as the first alcohol partner
Data accuracy is everything for the modern marketer—but it's not easy to come by. It continues to be an enormous challenge for those who rely on DSPs for audience segmentation and targeted communications. The result of working with inaccurate data? Hundreds of thousands of dollars wasted, loss of market share, and lack of brand awareness in a competitive market.
That's why improving audience segmentation is a top priority for brands and publishers. A high-quality, third-party data solution translates to more personalized and contextually relevant campaigns that drive visit lift, brand awareness, and uncover new audiences. And most importantly, delivers strong ROI.
So if data accuracy is a must-have (as we recently predicted), how can marketers access it? By ensuring that when choosing audience segments in DSPs, they're selecting audience data that is thoroughly vetted and relies on trusted methodologies.
Enter Foursquare. As of today, we've made it even easier to access Pinpoint audience segments through self-service access within The Trade Desk, with more DSPs coming in short order.
Already more than half of Ad Age's Top 100 Leading National Advertisers rely on Pinpoint. The best part? 93% of their active Pinpoint campaigns meet or exceed clients' KPI goals.
By packaging up self-service audience segments—450 of the highest-performing, anonymized audiences of consumers who frequent brick-and-mortar shops and services—Foursquare empowers brands and agencies to access high-quality audiences within the DSP platforms. This translates to the ability to reach the right person, at the right place, at the right time—for the right price. (And by the way, we can measure the success of any campaign as well; on The Trade Desk specifically, a marketer only has to select ‘measurement' to track a campaign's offline effectiveness.)
Quality data for quality campaigns
Foursquare Pinpoint audience segments are above all, incredibly accurate. Our exacting capabilities are achieved by the data science we use to improve the precision of our venue database of 105M places and the accuracy of our technology. Even more importantly, these combined efforts mean we have the ability to discern between quality data and junk data.
No other independent location player has the kind of privileged, first-party data built over the past ten years with billions of human-powered confirmations that validate it. Foursquare's segments are powered by our proprietary, always-on, first-party panel and quality-assured by our snap-to-place technology, which is up to 10x more accurate than status quo visit detection technologies. As we often say, not all location data is created equal.
In addition, we apply rigorous filtering methods to all third-party data we consume, leading us to throw out more than 80 percent that doesn't meet our data quality standards and protecting marketers' investments from misidentified or fake consumers. This is incredibly important as we scaled our addressable audience by more than 70% in the past year alone.
How do we know it works?
Since 2015, our industry-leading media solution, Pinpoint, has been a proven managed-service offering of choice. For a longtime retail client, Pinpoint delivered 2x engagement benchmarks and 1.5x time-spent benchmarks by accurately targeting outdoors enthusiasts for an outerwear campaign. Over the years we've delivered top-notch results, helping to bring visibility to creative campaigns in fast-food, QSR, auto, retail, and more. We've even leveraged our Pinpoint audiences to literally save the Internet.
MillerCoors gives a stamp of approval
MillerCoors, a leading alcohol brand and progressive brand innovator in the ad-tech space, is the exclusive alcohol brand to activate this new offering via a custom data integration during Foursquare's early-access period. MillerCoors will be using Foursquare's audience segments to build around their 'Pre-Shop' campaign. The unique audiences are aligned with the brand's priorities across the Convenience & On-Premise classes of trade.
"We have to authentically communicate our brands' messages with the right consumers across so many touch points; there's no room for error," said Brad Feinberg, vice president, media and consumer engagement, MillerCoors. "Foursquare has expert knowledge in how people move through the real world, and we are happy they are giving advertisers increased flexibility compliant with their opt-in data privacy rules. The option to transparently leverage the high-quality data through our preferred buying platforms as an integral component of our holistic media buy is what makes us so excited about this new opportunity."
All told, marketers are calling for more accuracy within the DSP universe. Spend on third-party audience data is expected to grow by 17% this year. And Foursquare is ready with our end-to-end solutions, from targeting to optimization via managed-service to measurement, too.
Foursquare Pinpoint audiences are grouped by Categories (e.g Fast Food Restaurants); Chains/Brands (e.g Walmart); Lifestyle Affinities (i.e. Roadtrippers); and Loyalists. They're available today via The Trade Desk, with more DSP partners to come. For more information: email email@example.com or visit our Enterprise website.
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