LSA Member Innovation in Local: Thinknear
June 18, 2014 | Contributed by: Joe Morsello
Today, we hear from Thinknear, a location technology company and full-service mobile advertising network focused on delivering advertising campaigns for agencies, brands and consumers. Thinknear’s platform delivers the accuracy, scale and technology required to leverage mobile location data to power better consumer experiences. In mobile, precision matters, and as a division of Telenav, Thinknear leverages exclusive access to over 14 years of proprietary location data.
We caught up with Brett Kohn, director of marketing at Thinknear, to learn more about his company and what they are working on:
What local problem(s) does Thinknear solve? How?
Thinknear uses highly accurate location data to deliver mobile display ads that build awareness and engagement between mobile users and brands. Location data has grown exponentially in recent years, but the availability of location data isn’t always a good thing. Only around 34% of all location data in mobile is accurate to within 100 meters of the user’s true location. Thinknear’s Location Score™ technology ensures that only the most accurate location data is used to target ads, which results in better mobile performance for national and local advertisers.
What makes Thinknear innovative?
As a division of Telenav, Thinknear has more location experience than any other mobile ad network. We’ve used that experience and our Location Score™ platform to develop the GeoCookie, a location-driven technology that enables retargeting and behavioral targeting on mobile devices.
Thinknear has access to billions of location aware data points from mobile users every month. The GeoCookie focuses on identifying location context, categorizing location categories, and storing data in a usable format that can be accessed in real-time, which requires an incredible amount of scale and processing power.
The technology enables the following targeting strategies:
- Mobile Retargeting: In the online world, users are retargeted based on web sites they have visited in the past. But in mobile, the GeoCookie gives advertisers the ability to target users based on the physical locations they have visited in the past.
- Behavioral Targeting: Location can tell advertisers a lot about a specific consumer. The GeoCookie can be used to build audience profiles based on desired user characteristics. For example, advertisers wanting to reach Business Travelers can use the GeoCookie to segment users who have visited airports during the week, frequented downtown business districts, and have logged multiple visits to hotels.
How does Thinknear make the local space better for advertisers and/or consumers?
Brands want to engage with consumers, but only in relevant ways that create positive brand experiences. Consumers want richer content and value from the advertisements that they do engage with. Thinknear leverages highly accurate location data and our dynamic content platform to ensure that ads are targeted to the right consumers, and that the content delivered is locally relevant. The result is a better user experience that ultimately drives better campaign performance.
What is next in local?
“Local” historically meant small-scale proximity based campaigns. But now, technology is making everything local. Targeting can be localized, content can be localized and even reporting and performance measurement can be localized. Location gives advertisers rich information about the mobile user that can be used to create custom audiences, richer creative, and deeper engagement with consumers. By serving ads that are only relevant to the true location and context of an audience, marketers are more effectively able to influence the path to purchase.
Tags: behavioral targeting, big data, GeoCookie, Local Search Association, location data, Location Score, location-based advertising, LSA, mobile, mobile ads, Mobile Advertising, mobile devices, mobile retargeting, Thinknear
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