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LocalResponse bets on HIT
A new retargeting tool out from LocalResponse looks at consumers' social history as a way to target ads and products. Called HIT - Historical Intent Targeting - the platform from LocalResponse is built upon a social premise: if a shopper mentioned a brand/product on social media they may still be interested in that product.
Here's how it works: a consumer makes a comment or updates a social status using a branded product. The brand can then 'reach' back in time, mine that data to target an ad based on that product or related products. For example, a shopper may have commented on Twitter that a new iPad was their favorite holiday gift in 2011; leading up to 2012, Apple might then reach out to that shopper about new Beats headphones.
"Our mission is to make ads truly contextual. By leveraging the history of a social media conversation, we now have enhanced ability to do this," said Nihal Mehta, CEO of LocalResponse. "Imagine a movie studio serving banner ads for a movie rental to those who talked positively about the same movie months prior. Or a retailer who wants to send a promotion to a consumer who checked into their location during the past year to get them back in. The opportunities are endless."
Data can be mined from Twitter, Foursquare, Instagram and others. Explicit and implicit intent posts, tweets or updates are two of the best ways to target ads. For example, a consumer who checked in to a local casual dining restaurant via Foursquare (explicit intent) or someone who mentioned plans to visit that restaurant (implicit intent) would likely be more engaged with that business than someone who vaguely referenced wanting a good hamburger.
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