ownerIQ’s New Technology Drives Consumers to Retail Through the Power of Second-Party Data
Geo-Weighting Goes Beyond Traditional Location Targeting Creating 3X Lift in Conversions
BOSTON, MA (June 21, 2016) – ownerIQ, the leaders in second-party data; a digital marketing solution for retailers and brands, announce today the release of Geo-Weighting, an innovative technology that goes beyond traditional location targeting to reach in-market audiences at the user-level. Geo-Weighting considers users near a store, but treats each user differently depending on individual interest and distance from that store. The new technology predicts a user’s likelihood of visiting a store by combining location proximity with browsing relevancy, creating an audience of truly qualified retail shoppers based on user-level data.
ownerIQ’s unique access to second-party shopping data paves the way for Geo-Weighting – this approach to Geo-Targeting understands consumer browsing behavior, going beyond restrictive boundaries to include fluid shopper activity. By erasing the lines of hard fences around store locations and arbitrary borders like ZIP codes and DMAs that effectively limit ad inventory, Geo-Weighting differs from Geo-Fencing and Zip-Scoring, considering only qualified buyers within a specified store’s proximity.
Geo-Weighting solves the issue of wasted ad impressions by targeting in-market and in-location consumers, as opposed to targeting based on location only. Geo-Weighting creates a proven 3X lift in conversions vs. traditional Geo-Targeting campaigns and reduces CPA by 63% vs. traditional Geo-Targeting campaigns.
“Our customers will travel 35, even 50 miles to visit our stores. Geo-Weighting focuses my ad spend on in-market shoppers in proximity to our locations, and also gets our message to those hard-to-reach customers farther away without wasting money on unqualified shoppers.” Richard Yagjian, Executive Vice-President, WB Hunt Company, Inc., d/b/a Hunt’s Photo & Video
At the core of the Geo-Weighting technology is ownerIQ’s massive data pool of 1 billion shopping and purchasing behaviors sourced directly from retailers, product brands and e-commerce websites. ownerIQ’s database is the largest transparent second-party data marketplace of its kind, seeing over $500MM in online transaction monthly.
“Driving outcomes at the physical store is very important to many of our retail and brand clients,” says Benjamin Barr, Director of Retailer Targeted Marketing. “But the current marketplace solutions do a poor job of maximizing the opportunity. Our access to robust second-party shopping data uniquely enables us to view and score opportunities at the user level. With Geo-weighting, we’ve integrated additional variables that impact retail visits, such as store proximity and weather, to our user-level scoring.”
To learn more about ownerIQ’s new Geo-Weighting technology, access ownerIQ’s latest eGuide: http://www.owneriq.com/geoweighting-eguide or read GeoMarketing’s article “How Can Retailers Get Shoppers To Travel 50 Miles To Their Store?”
ownerIQ, “The Q” digitally connects retailers and brands through the power of second-party data, providing transparency, scalability, and relevancy within digital marketing. ownerIQ changes the way retailers, brands and e-commerce websites run their digital advertising campaigns, reaching consumers both online and in-store. The Q has the largest and most transparent second-party data cloud which aggregates over 1 Billion online shopping behaviors of more than 200 million U.S. consumers each month from retailers, product brands and e-commerce sites. Our fully integrated programmatic stack, built specifically for the needs of marketers in the Retail ecosystem, enables our advertisers to leverage our partners’ 1st party data pools to power their e-commerce campaigns, retail initiatives, and prospecting programs. ownerIQ was recently named in the 2015 Ad Age BtoB Best Awards, as CIOReview Magazine’s Top 50 Retail Solutions, Digiday Signal Awards, Boston Business Journal’s Hottest Tech Companies to Watch, and Editor’s Choice Award from Shopper Marketing Magazine. For more information, visit www.ownerIQ.com.
Director Marketing Communications
(617) 904-5202 Ext. 745