UberMedia Launches ‘Optimal GeoSpace’ Technology to Help Retailers Better Understand and Target Customers
“PASADENA, CA (PRWEB) JULY 13, 2016
UberMedia, a trusted mobile authority that transforms behavioral data into actionable consumer insights, today launched Optimal GeoSpace, a patent-pending mobile location technology that dynamically renders a customized virtual fence around individual retail shopping areas, enabling retail marketers to fully capitalize on the actual footprint of a customer to their location (or a competitor’s location).
Traditional geo-fences poorly serve most advertising targeting solutions because they are a “one size fits all” approach. They often misrepresent or overextend the parameters of specific shopping areas, sometimes by as much as several miles, increasing the chances that an advertiser is serving ads to consumers not specific to their location. Whereas Optimal GeoSpace can create a flexible fence tailored to each unique location based on specific shopping patterns using UberMedia’s analysis of billions of high-quality location data points over a period of time as set by the advertiser.
By analyzing mobile data points with a real-time algorithm, Optimal GeoSpace accounts for real-world behavior and location cues over time or within a period of interest, such as Black Friday or holiday shopping, identifying a retailer’s most optimal trade area so they can calibrate media plans and more accurately and effectively target active consumers.
“Imagine you’re a brand manager for a national retail chain having to manually customize 2,000 locations with the limitations of traditional geo-fencing technology,” said Michael Hayes, Chief Revenue and Marketing Officer of UberMedia. “To be the most effective, each location needs its own settings since every market presents different consumer challenges, which is why Optimal GeoSpace technology, combined with our expansive mobile data, takes the headache out of this process. Our technology can identify specific optimal shopping parameters and can update and dynamically set a flexible fence at scale to create an accurate picture of the customer’s actual journey to a specific location, freeing up the time to focus on other campaign elements.”
Optimal GeoSpace’s evening/daytime location analysis can also provide anonymous information about where visitors likely live and/or work, and path-to-purchase data evaluates where store visitors were in the hours prior to arriving at a location. This insight reveals the most traveled corridors via interstates, residential routes, or public transportation.
“While standard geo-fencing can misidentify audiences, Optimal GeoSpace gives retail marketers a much more accurate targeting tool for identifying the true footprint of their consumers,” said Hayes. “Performance for many retail advertisers might be thought of nationally, and yet it’s a street fight at the local level. Whether advertisers need more foot traffic, more market share, or increased sales, we are providing a better, more precise way of targeting to reach their goals.”
Optimal GeoSpace was developed out of our UberMedia Retail division, which uses this technology as a new way for retailers, real estate brokers, and real estate developers to identify competitive trade areas, analyze potential new sites, and view the actual footprint of a customer to their desired location so they can more accurately and effectively allocate investment dollars.
One of the most trusted mobile authorities, UberMedia transforms mobile behavioral data to power actionable business intelligence, advertising, and measurement. UberMedia’s diverse suite of products process billions of social, demographic, and location signals daily for Fortune 500 companies across retail, automotive, and entertainment to better understand and influence modern consumers with the most accurate business decision science. Recognized as a pioneer in targeted mobile advertising, UberMedia was listed as Fast Company’s “50 Most Innovative Companies” and The Wall Street Journal’s Top “50 Startups.” UberMedia is headquartered in Pasadena, CA as a network company of Idealab, a world-renowned operator of leading technology businesses. For more information, visit http://www.ubermedia.com.”