Five months after Foursquare debuted Attribution Powered by Foursquare, the company is adding a dashboard to the system to give brands real-time insights to campaigns.
The social/location discovery platform is going after retail marketing budgets and promising to measure digital ads—and not just Foursquare ads, but those from across the web and mobile apps—with actual visits to physical stores. There are 55 brands using Attribution Powered by Foursquare so far, including Anheuser-Busch, Peet's Coffee and Blue Bite. Tech partners entail Undertone, Opera Mediaworks, Clearstream, Drawbridge and TubeMogul.
"We have raised the bar for online-to-offline measurement," Steven Rosenblatt, Fourquare president, told Adweek via email. "The marketers who work with us love the accuracy and precision of our data and technology."
Attribution Powered by Foursquare leans on a voluntary, nonincentivized panel of 1.3 million Foursquare users who have agreed to leave their location-sharing feature on at all times, meaning Foursquare knows every store they visit—even if they don't open the app or the company's sister app, Swarm. The panel also takes U.S. Census demographics into consideration.
The new dashboard measures the following for such marketers:
- daily visits to stores
- incremental visits
- lift for a campaign
- return on ad spend
- incremental revenue
- number of impressions
- number of devices reached
The dashboard also features audience metrics that entail geography, age groups, gender, customer loyalty and marketing category.
"Much of the excitement around mobile is the potential it has to close the rift between the online and offline world—to forge a much-needed connection between what ads the consumer is seeing and how it is impacting their real-world purchase behavior," said Mike Owen, evp of North American sales at Opera Mediaworks, in a statement. "We are looking forward to offering our clients, through Foursquare's Attribution, the ability to measure the conversion of their media spend into actual visits to retail locations and the incremental lift they receive from their campaigns."