Companies, feeling an increased need to better understand the behaviors of their customers, are turning to data solutions based on real-world foot traffic movements. Described as Data-as-a-Service (DaaS) offerings, these solutions create opportunities to enhance consumer analytics and engagement, and overall business intelligence. And those opportunities are surging: the market is expected to reach $274 billion by 2022, with annual growth of over 13 percent, from $189 billion this year, according to market research company IDC.
Foursquare, the leading location data and technology company, has developed products that consider preferred means of consumption and application. In fact, we have amassed a rich and extensive real-world data set to reveal a deeper understanding of people and the places they go. Below is an overview of our Data Solutions, Visit Data and Audience Data, and how you can tap into both to meet your business goals.
Surface Consumer Trends and Build Audience Segments with Data Solutions
Companies looking to get detailed insights into consumer behavior for over 2,700 chains and categories, and to reach over 100 million user devices, per month, in the US, can now partner with Foursquare and its Visit Data offering to meet their marketing needs. The data is validated by Foursquare's core visit detection technology, Pilgrim, and adheres to the highest standards of data integrity, data quality, and consumer privacy. What's more, the data has been verified against over 14 billion place confirmations, at more than 60 million commercial places worldwide — and is refreshed with over one billion new place confirmations annually.
Marketers can also tap into Foursquare’s Visit Data to enrich their analytics and accelerate their programmatic buying strategy. Derived from historical consumer foot traffic patterns to chains and categories, our Audience Data categorizes consumers into distinct, pre-built audience segments, based on consumers' lifestyles, shopping habits, and brand affinities.
Foursquare offers over 600 distinct audience segments, including, for example, the Fitness Fanatic, which reflects frequent and recent visits to gyms and workout facilities. Meanwhile, the New Parent audience segment captures users who make similar trips to daycare centers and child clothing or toy stores. Audience Data is available for more than 220 million unique consumers, and customers have the option to customize their own segments, beyond the 600 already available.
The Benefits of Location Data
Companies that rely on location data have numerous tools at their disposal to effectively understand their customers' habits and to better engage with them. With Foursquare data, companies can personalize their marketing and location-based engagement strategies, enrich their existing customer data sets, and enhance and optimize their advertising initiatives.
Accessing our location-based datasets is easy. Organizations can integrate the data directly into their existing channels, through preferred advertising platforms and demand-side platforms (DSPs), like The Trade Desk (TTD), or through syndicated platforms like Google's DV360. Companies can also connect to any DSP of their choosing, through LiveRamp.
Meanwhile, businesses can download select datasets through the AWS Data Exchange — where they can opt to receive data daily, weekly or monthly — or they can reach out directly to Foursquare's team to access its complete library of extensive data sets.
Data Solutions Marketing Use Cases
Data Solutions can yield deeper insights for marketers. Businesses can enrich their existing customer data sets, first of all, by matching Foursquare audience segments to profiles within a database, such a customer management platform (CMP) or customer data platform (CDP). This allows companies to append detailed audience attributes to their customer profiles — segmenting their audience into knowable and targetable consumer cohorts.
Mobile-first companies can also leverage location data to personalize their marketing efforts — without any need to install a location SDK. With foot traffic traffic to 2,700 different chains and categories, organizations can easily deliver personalized app experiences, such as contextual targeting. For example — loyalty coupons and in-app advertising — can capitalize on the real-world behaviors and affinities of users. Just as importantly, real-time location data can help demonstrate the effectiveness of location-based advertising, by measuring tangible increases in foot traffic and conversions from offline shoppers.
Finding Truth in Data
Foursquare unlocks a clearer, data-backed understanding of real-world foot traffic patterns, customer analytics, the best ways to reach and engage consumers, and more. With Visit Data and Audience Data, companies can manipulate, sort, filter, and even combine diverse data assets — allowing them to uncover novel insights that suit the unique needs of their businesses.
Backed by the most comprehensive location technology platform, Foursquare offers an unparalleled level of verified data on real-world consumer behaviors. By partnering with Foursquare, businesses can take advantage of the scale, coverage, and accuracy of data that marketers need to make data-driven decisions — and then use that information to create data-led, personalized experiences for their most trusted customers.
To learn more about how your business can benefit from real-world data, visit us at enterprise.foursquare.com.