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3 Questions with Sense Networks
More and more businesses are looking into location based data, believing location can give them better insights into what Consumer A wants at a given time and how to engage that shopper. One platform is set up to help analyze this kind of data.
Kristina: Tell me about the Sense Networks platform .
David Petersen, CEO, Sense Networks: Sense Networks uses mobile data to build location-powered behavioral profiles. Through analyzing historical location patterns, it is possible to understand consumer behavior in a rich and powerful way. We can understand who is a WalMart shopper, a fast-food junkie, business traveler, frequent movie-goer, etc. Since we target through unique user profiles, we are also able to retarget consumers multiple times to reinforce the message, or deliver a cadence of messages as they proceed on their shopper journey. This is accomplished within strict privacy considerations, such as not collecting any personally identifiable information, making all users anonymous and discarding raw data.
Kristina: Related, how can your platform better handle, analyze and disperse location based data?
David: Sense Networks processes more mobile location data points than any company, other than Facebook and Google, so we understand (big) data. With all of this location data, we have developed behavior targeting algorithms that predict consumer behavior/actions before they happen - such as targeting a likely lunch prospect with a sandwich coupon, before their next meal. Sense's unique approach to targeting mobile users by their historical location, behaviors and shopping patterns supports improved results and measurable ROI.
Kristina: Everyone is talking about location data but are most businesses using this kind of data correctly?
David: Most businesses are not leveraging location technologies in the most meaningful manner. The majority of brands and advertisers are using location data to send ads to consumers based on their real-time location using geo-fences. Research shows, however, that 80 percent of purchases are planned, as opposed to bought on a whim.
More from David and Sense Networks on Monday, including how businesses can better incorporate location based data.
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