PlaceIQ Introduces PreVisit and PIQ Analytics, Delivering Deeper Insights Into Consumer Behavior
NEW YORK, NY – PlaceIQ, the company building more accurate audiences with location, time and real-world behavior, today announced two powerful new analytics capabilities — PreVisit and PIQ Analytics. Part of PlaceIQ’s newly patented location technology platform, both offerings provide marketers with an unprecedented understanding of their consumer audiences by deriving behavioral and demographic signals from the location histories of millions of unique devices.
Since 2010, PlaceIQ has focused on building a unique and detailed platform that enables powerful location intelligence for brands and agencies alike. The company was awarded a patent this past summer for its unique methodology that is key to understanding audiences from location. PlaceIQ continues to add to its robust product platform focused on targeting and analytics.
As additions to PlaceIQ’s suite of advanced reporting solutions, PreVisit and PIQ Analytics go beyond ad delivery and top-level campaign reviews. PIQ Analytics metrics provide a multidimensional, deep understanding of mobile audiences’ behaviors across location and time by analyzing their movements in the real world. As an example, PIQ Analytics can identify which competitors a brand’s audience is most likely to visit, the restaurants where they typically dine, the type of device they use, and the stores that they frequent. These insights go far beyond singular place and time measurements and provide a window into the consumer journey.
PreVisit determines where consumers were before arriving at a brand’s physical location. Providing this visibility and context into location histories adds a truly differentiated and realistic depiction of audience behavior that is indispensible to brands. For example, marketers can utilize PreVisit to target ads to the places their visitors travel from most often. Therefore, brands can encourage more frequent visits from existing consumers, as well as visits from new customers.
“Our platform allows marketers to use location intelligence to deeply understand the consumers with whom they want to engage,” said PlaceIQ CEO & co-founder, Duncan McCall. “Such visibility into and context around the consumer journey is highly valuable for brands seeking a truly differentiated and realistic depiction of consumer behavior.”
When coupled with PlaceIQ’s Place Visit Rate™ (PVR™) metric, PreVisit and PIQ Analytics allow marketers not only to understand whether their campaign successfully drove audiences to their store locations, but how visiting devices were different from those that did not visit. With this nuanced understanding, clients can discover successful audiences they may not have previously targeted, and optimize their campaign based on real-world behaviors.
“PlaceIQ believes that businesses are better served by glimpses of the actual, real-world tendencies of their target consumers,” said PlaceIQ CTO and co-founder, Steve Milton. “Having now received a patent for our technology, we will continue to develop innovations that strengthen marketers’ ability to understand and reach relevant audiences across and even beyond screens, at scale.”
PreVisit and PIQ Analytics for PlaceIQ clients by vertical:
Technology client discovered that audiences who were exposed to advertising and visited key retailers were 20 percent more likely to be Millennials than those that did not visit.
Consumer electronics brand learned that 6 hours prior to visiting the key retail locations, consumers were 3x more likely to be observed at other consumer electronic locations — revealing that visitors had cross-shopping habits among consumer electronics enthusiasts.
Automotive client discovered that home goods and grocery shoppers made up a significantly larger share of audiences exposed to advertising who then visited dealership lots versus those that did not visit.
Big Box retail client looked at devices that visited their stores and learned that they were 50 percent more likely to be low-income families with young children, versus all other audiences.
Technology client uncovered that audiences who were exposed to advertising and visited key retailers were 33 percent more likely to be in the highest income bracket earning $200k+.
About the Patent
The patent is for a process of profiling a user of a mobile computing device, the process including: obtaining a location history of a user, the location history being based on signals from a mobile computing device of the user; obtaining a location-attribute score of a location identified in, or inferred from, the location history; determining, with a computer, a user-attribute score based on the location-attribute score; and storing the user-attribute score in a user-profile datastore.
Patent granted July 16, 2013, U.S. Patent 8,489,596.
For more information, visit the United States Patent and Trademark Office’s website.