Last Letter as CEO of Placed, First Letter as President of Foursquare

Since starting Placed almost 10 years ago, we held the thesis that the location industry needed a single source of truth in order to truly drive adoption.  Placed has delivered that single source of truth in measuring media to store visits with Placed Attribution, used across 440+ publishers and platforms on behalf of 500+ advertisers.  Additionally, Placed Insights, our open location analytics platform, is the most widely utilized in market with thousands of users logging in monthly.

While the adoption of Placed has exceeded our own expectations, there has been a competitor that I’ve begrudgingly admired from a distance.  They hold many of the same principles as Placed, invested in proprietary first party data, building models based on validated visits, focusing in engineering and data science first, creating a market leading point-of-interest database, and most importantly, valuing and protecting user privacy.  This company is Foursquare, and I’m excited to announce that today Placed is merging with Foursquare to deliver the most comprehensive and fully independent technology stack in the location technology industry.

The combination of Foursquare and Placed standout as the quantifiable leaders in market:  


  • Well over $100MM in revenue the last 12 months tied exclusively to location across more than 1,000 clients
  • In the last 12 months over $3 billion dollars in media spend attributable back to store visits representing a quarter of a trillion ad impressions
  • Placed powered by Foursquare will be the undisputed leader in offline attribution, trusted by:
    • 75 of the 100 most visited chains in the US
    • 18 of the 20 most visited restaurant brands in the US
    • 14 of the 20 most visited retailers in the US
    • 450+ publishers across digital, video, TV, and OOH
  • The largest team to ever focus exclusively on location with 350+ employees with over 40% representing Engineering and Data Science
  • Investment led by leading technology media and telecommunications-focused global merchant bank The Raine Group along with its co-investors in the amount of $150MM, representing one of the largest investment commitments the industry has seen
  • A measured audience of over 100MM unique devices in the U.S., thanks to the combination of Placed with Foursquare’s extensive data, developer network and consumer apps.
  • Placed and Foursquare’s first-party data centers on transparent opt-in, always-on location, true visit and stop detection, and multi-sensor awareness.
  • A combination of Placed’s validated visits with Foursquare’s user-confirmed visits that number over 13.1 billion to date, making it the leading first-party data set to train machine learning to capture accurate store visits.

With the scale that a combined Placed and Foursquare will deliver in-market, you’ll see many improvements across our suite of products, while remaining committed to our position as the independent measurement solution for store visits:  

  • In the coming months, Foursquare Attribution will merge into Placed Attribution, reintroduced as Placed powered by Foursquare. It will deliver a single solution with all of the best-in-class features associated with each service
  • Placed will continue to deliver offline attribution to its 500+ advertisers and agencies
  • Placed will continue to be Snapchat’s preferred solution to measure ad exposures to store visits
  • Placed will continue to add new partners and advertisers and expand existing relationships as the largest independent advertising to in-store attribution solution in-market   
  • Placed will continue to operate independent of media with a strict process in place to protect partner and advertiser data  
  • The new offering will immediately incorporate Foursquare’s industry leading POI as well as proprietary and privacy-focused 1st party data into its platform (105MM POIs across 150 countries)

When we look back, history will define this as a seminal moment in location, that changes everything, and I couldn’t be more excited and honored to be a part of this ride at Foursquare as President.    

https://blog.placed.com/nas/content/live/placed/https:/placed-blog.s3.amazonaws.com/srv/blog-source/shared/2017/10/David-300x95.png

David Shim

Founder and CEO


PS – A special thanks goes out to the team at Snap, including Evan Spiegel and Jeremi Gorman, for embracing the opportunity and impact of a combined Foursquare and Placed, and former CSO Imran Khan, for believing in the vision of Placed in 2017.        



Placed Research: How Advertising has Evolved for QSR & Fast Casual Restaurants

QSR campaigns perform well compared to other verticals or categories.

The ubiquity of mobile devices has dramatically changed the landscape for restaurant advertising, particularly for Quick-Serve (QSR) and Fast Casual. No longer constrained to the desktop, digital advertisers have embraced the possibilities of mobile data and continue to do so—digital ad spend measured by Placed for QSR and Fast Casual increased by over 1,000% between 2014 and 2018.


In this new paper from Placed Research, we explore unexpected and useful insight gained through nuanced location analysis that can be used to guide advertising strategy:

  • QSR marketers do better than average in terms of lift and efficiency
  • Audio and Social apps are the most cost-effective channels for influencing QSR customers
  • QSR and Fast Casual marketers spend efficiently on TV
  • Tactical incrementality is strongest for younger & less loyal customers

Read the full report here, or contact sales@placed.com to learn more.

New Placed Research: Millennials and Auto Shopping

Driving Millennial Shoppers into Car Dealerships

 

The time has come—Millennials are ready for car ownership. They’re past their college years, getting married, earning good salaries, and considering moves outside of urban areas. If you’re an automotive marketer and still think of Millennials as teens who only use ride-sharing services, this Placed Research report is for you.

 

Millennials are actively shopping for vehicles, and using ride-sharing apps as a supplement to car ownership

By integrating Placed’s large-scale business visitation data with 1st-party automotive shopping surveys, we validated that Millennials are shopping at dealerships and taking test drives.

  • Millennials account for 1 in every 5 visits to dealerships.
  • 1 in 3 Millennial dealership visits is a shopping visit.
  • Millennial auto shopping visits over-index for Lyft and Uber app installs.

Although Millennials are ready to buy cars, the study also shows that Millennials shop differently. Fortunately, their real-world behavior—day of the week, time of day, business affinities—follows consistent patterns that can be used for optimizing marketing programs and ad campaigns to drive more Millennials to shop and test drive at dealerships.

Learn more by downloading the report or by contacting sales@placed.com.

Pandora Hits Milestone:100 Brands Measured with Placed Partnership

This week, Pandora and Placed hit a major milestone – since launching the partnership in early 2014, 100 of the world’s leading consumer brands have run Pandora campaigns with offline attribution provided by Placed. As Pandora’s Preferred Partner for offline attribution, Placed has measured 400+ campaigns for Pandora, and has attributed more than 60 million incremental offline store visits to campaigns running advertising across Pandora’s streaming music service.

 

“It’s exciting to hit this milestone in the partnership between Pandora and Placed,” commented Jim Watson, Placed Senior Vice President, Strategy. “Pandora is focused on driving true value for their advertising clients as we’ve seen with their ability to drive double-digit lift in store traffic for Lane Bryant and an incremental $110 million in revenue for the Las Vegas Convention and Visitors Authority.”

 

“Pandora’s clients require demonstrable results from their campaigns, and Placed is the preferred partner they trust to measure their campaigns.” added Keri Degroote, Head of Sales Research & Analytics at Pandora. “Placed’s industry leading attribution methodology provides the objective results required by our clients and is able to handle the scale of campaigns running across our platform.”

 

With advertisers ranging from restaurants to tourism to retail, Pandora campaigns deliver real business results for brands – 20% more likely to drive incremental visits than the Placed industry benchmark.

Placed-Pandora-09052018

 

TV Advertising Benchmark Metrics: Infographic from Placed Attribution

Following-up on our recent announcement of a free preview period, here is an infographic that is easy to read and share!

 

Placed Attribution for TV has campaign-level reports for 100 top brands. For a high-level view, we analyzed all the Q12018 campaigns — $3.7B in TV ad spend. The highlights:

 

35% of TV Campaigns Drive Incremental Visits to Businesses
It’s time for a conversion metric for TV. After viewing ads, consumers are taking action in the real-world.

 

Peak Time to Store Visit for Restaurants, Telecom, and Auto
Not all attribution benchmarks are the same — remember to dig down to the industry level.

 

Top Performing TV Networks for Lift in Incremental Visits
Across all campaigns, we identified the top five for driving incremental visits.

 

We hope you enjoy the infographic below (click to enlarge). To learn more about Placed Attribution for TV before the open-access preview period ends on June 29th, visit placed.com/tv and open a free account.

 

Placed TV Ad Benchmarks Infographic Q12018