This is the summary of an article from pymnts.com. It talks about a new technology that enables retailers to re target customers based on their mobile location by Sense Networks. Behavioral targeting and predictive location strategies are used to match potential customers with enticing offers displayed in their mobile devices. Here’s the link to the original behavioral targeting article: Sense Networks Unveil First Retail Retargeting Technology.
Recently, a new technology that enables retailers to re target customers based on their mobile location has been announced by Sense Networks. The company says that the innovation is part of their AdMatch platform, describing it as the first Retail Retargeting solution in the industry. The technology can assist retailers in identifying, retargeting and driving customer loyalty among customers who have come to their stores.
Behavioral Targeting & Predictive Location
Prospective customers who are frequently near the location of a store can be identified through Retail Retargeting. Through the use of behavioral targeting and predictive location strategies, Sense Networks’ AdMatch platform can “match” potential customers with enticing offers placed on mobile display ads. Notably, a total of 90 million users can be reached by Sense Networks; likewise, its Retail Retargeting technology can determine which users often shop with the top 1,000 retailers in the United States.
More Effective Retargeting
Unlike other companies, which often use a strategy that targets consumers when they are at a store, at a specific point in time, Sense Networks takes things a step further. They are able to find out which mobile device users are shoppers, and consequently retarget them when they are no longer inside the store. This is made possible through careful analysis of location patterns and algorithms, which aids in creating profiles of mobile users.
Through Retail Retargeting, customers can be retargeted immediately by a retailer, even within 24 hours after they have shopped at the store. Similarly, the technology can also target customers ahead of time, coinciding with their plans for making subsequent purchases. Eventually, this leads to greater profits and higher click-through-rates. This goes beyond targeting simply by demographic date, as Sense Networks utilizes behavioral information and geographic location of mobile users.
Reaching Out to Possible Customers
Because Sense Networks has a highly flexible platform containing more than a thousand behavioral attributes, retailers can prioritize very specific targets, such as sports enthusiasts who reside within five miles of a their store, for example. Armed with this information, they can focus on targeting possible customers who are often near their store. This helps them to stay ahead of their competition in the same area.
Realizing Mobile Power
According to Sense Networks CEO, David Petersen, mobile power has not yet been realized, and Retail Retargeting aims to address this. Through their technology, retailers are able to gain a wider understanding of their customers, particularly those who can be retargeted after analyzing their behavioral data and location. Petersen adds that they seek to help retailers attract more customers develop customer loyalty as well.
Despite the ability to gather data about mobile users, Retail Retargeting ensures that these are kept anonymous. After processing, personal information such as names, phone numbers, and emails are discarded; the remaining data are then categorized into customer segments.