Geo-fencing allows advertisers to send a push notification to mobile device owners when one enters a specific space. But a new tool from Placed goes one step further, crunching billions of location data points to tell advertisers exactly which places their audiences frequent the most in the real world.
Called Placed Targeting, the new offering from Placed enables advertisers to send notifications when a customer goes to a specific location. The platform takes advantage of Placed Insights, which measures more than 100 million locations a day across more than 100,000 U.S. users who have opted-in to share their location.
Placed Targeting crunches that location data and can then tell advertisers exactly where shoppers of a specific store are hanging out most often with an “Audience Visualization” as seen above. For example, Placed can tally every Macy’s shopper and then figure out where these shoppers hang out most often. This in theory would help Macy’s target their push notifications more precisely.
“Proximity is just one tactic when it comes to mobile advertising,” David Shim, Placed founder and CEO said in a statement. “Placed Targeting brings lookalike modeling to location-based advertising, proactively reaching audiences throughout the real world versus waiting on proximity.”
For the launch of Placed Targeting, Placed is partnering with Verve, a location-based advertising platform similar to Placed.
We wrote about Placed about a year ago, with Shim explaining how measured locations are aggregated across thousands of users to provide analytics to third parties. For example, the company put out a revealing study in February about how Amazon is impacting brick-and-mortar retailers.
Placed, which also offers a product called Placed Affiliate that lets developers monetize location data for market research instead of ads, raised $3.4 million from Madrona Venture Group and others last year.