Dive Brief:
- PlaceIQ, a provider of location-based intelligence technology, announced that it is partnering with MasterCard's Advisors professional services arm to access to the credit card giant's audience and transaction data.
- PlaceIQ's location intelligence platform uses opt-in methods to gather information from more than 10 billion location-enabled data points daily. It now can bring in aggregated, anonymous MasterCard shopping insights on segments including retail, automotive, CPG, dining, travel and others to help companies craft media strategies as well as audience activation and measurement efforts.
- PlaceIQ's Place Visit Rate traffic measurement tool also can be combined with MasterCard Audiences to provide analytics on the effectiveness of marketing and sales campaigns.
Dive Insight:
Retailers are so far struggling with creating omnichannel experiences, and believe having access to more data and insights will help. If that's what they want, this PlaceIQ/MasterCard partnership should be able to deliver truckloads of it.
Putting location data together with audience data about transactions—what they spent money on, and where—takes things to another level. It paints a more accurate picture of what shoppers are doing as they go from store to store, and what they are really purchasing. That information, in turn, can help retailers and product marketers alike make more informed decisions about how they want to reach out to those customers.
The combination of PlaceIQ's capabilities for determining mobile device identification and location with MasterCard transaction-related data also can helps these parties define groups of shoppers that are most likely to make purchases in particular segments and locations.
Getting a more accurate picture of consumer behavior at increasingly localized levels is something of a Holy Grail for retailers and marketers. The result of all this could be some extremely targeted and personalized advertising, at least for those customers who opt in.
