Setting Up the Geo-Fence with Mobile Location Data
If Pokemon Go has taught us anything, it is that there is even more potential in geolocation than most of us every thought possible.There are, of course, technology companies that have been working on location-based targeting for some time.
UberMedia, for example, has launched Optimal GeoSpace, a mobile location technology that renders a customized virtual fence around pre-set retail shopping areas. By analyzing mobile data points with its real-time algorithm, the solution accounts for real-world behavior and location cues (collected over time) or within a period of interest (e.g., Black Friday), identifying a seller's most optimal trade area (or that of their competitors') so that they can calibrate media plans effectively.
The solution seems far superior to traditional geo-fences, which tend to take a one size fits all approach which can misrepresent or overextended the parameters of shopping areas (which just wastes marketing/advertising budgets).
“To be the most effective, each location needs its own settings since every market presents different consumer challenges, which is why Optimal GeoSpace technology, combined with our expansive mobile data, takes the headache out of this process,” said Michael Hayes, Chief Revenue and Marketing Officer of UberMedia.
"Our technology can identify specific optimal shopping parameters and can update and dynamically set a flexible fence at scale to create an accurate picture of the customer’s actual journey to a specific location, freeing up the time to focus on other campaign elements.”