Foursquare Labs, the US location intelligence technology company, has announced its new system, Attribution Powered by Foursquare, to help stores measure foot traffic generated by digital ads. The company claims that the system can connect digital ads from across the web and mobile apps with real visits to physical stores. Test groups have been used to compare and extrapolate data on the impact of ads on consumer behaviour, with publishing app Flipboard claiming a 5 percent incremental lift in store visits after using the system to measure an online retail campaign. Foursquare raised $44m in a January round of equity funding, and powers location for 100,000 apps for companies including Apple, Microsoft, Pinterest and Flickr, the company hopes to expand globally via other partnerships, and is eyeing third-party TV data providers.
Foursquare Labs, the US location intelligence technology company, has announced its new system, Attribution Powered by Foursquare, to help stores measure foot traffic generated by digital ads. The company claims that the system can connect digital ads from across the web and mobile apps with real visits to physical stores. Test groups have been used to compare and extrapolate data on the impact of ads on consumer behaviour, with publishing app Flipboard claiming a 12% incremental lift in store visits after using the system to measure an online retail campaign. Foursquare raised $44m in a January round of equity funding, and powers location for 100,000 apps for companies including Apple, Microsoft, Pinterest and Flickr, the company hopes to expand globally via other partnerships, and is eyeing third-party TV data providers.