MarketPlace Discovery: A New Real-Time Foot Traffic Tool from xAd
June 16, 2016 | Contributed by: Joe Morsello
Who brings in more foot traffic: Macy’s or Kohl’s? What day and at what time is there the most foot traffic at Target? Which other restaurants and stores do visitors of Subway go? Where exactly do customers of the Starbucks on University Ave in Palo Alto, CA come from?
These are just a few of the questions that can be answered by xAd’s new real-time foot traffic visitation tool called MarketPlace Discovery. Announced in a press release this week, the tool, which is still in beta with a full release expected later this year, provides insight into foot traffic behavior for stores and unique points of interest.
Leveraging anonymized foot traffic data from xAd’s partner network of over 100K mobile apps, the new tool helps brands better understand real-world consumer behavior. According to the press release, “xAd sees a total of 325 million global unique users per month at nearly 100 million places.”
The Discovery tool is largely a move to make the data more actionable. Embedded in the company’s MarketPlace product, which enables location-based campaign planning, buying and reporting, xAd customers can now make more informed decisions when creating, executing and measuring these campaigns.
The company previously provided an example of how the data could be used to measure marketing success. Taco Bell saw a 14% increase in daily foot traffic on Cinco de Mayo, attributed to the brand’s Snapchat activity and reintroduction of Diablo Sauce. Overall, Mexican restaurant chains showed an average increase of 11% on Cinco de Mayo, but Qdoba foot traffic remained flat on the holiday.
The data is extremely valuable for multiple reasons. As national brands work to better engage local consumers, it helps them make more informed decisions and better track real-world actions from campaigns. They can see which networks and publishers do a better job of delivering customers to stores. They can optimize campaigns based on store visits and see which ad creative is “working” accordingly.
In addition, making foot traffic data readily available could enable location visits to become a performance metric to compare or judge the success of individual stores in a chain. Especially for brands that have decentralized marketing, foot traffic could be used as primary metric to determine success at the local level. The data can also be used for operational decisions, site selection, staffing and more.
Although not readily available to small businesses yet, local marketers would equally benefit from this kind of data. However, the release doesn’t discuss small businesses. Yet marketing services providers working with local business owners will eventually need to be able to report on offline consumer activity.
To learn more about proximity, indoor experience, location-based marketing and location anayltics, join the LSA at Place Conference in Chicago, September 21, 2016. Click here to learn more.