Placecast, a mobile marketing company, is all into location data. The CEO of Placecast, Alistair Goodman, believes that this is the next frontier when it comes to ad measurement and verification. Placecast is rolling out a new product called the Location Verification Product. The company describes it as the first industry truthset for scoring the accuracy of other data.
According to a study conducted by Factual and the Mobile Marketing Association, nearly 40 percent of marketers have quality of location data as their primary concern. He points out that there are numerous points in the process of collecting and using data. But the end result isn’t always reliable, leading to waste of money and other resources. This also leads to a situation where ads aren’t targeted right and everything goes down the drain.
During the initial trial and study of Location Verification Product, it is found that 25 percent of impressions weren’t targeted right. They were improperly placed and the reasons went on. But there is a unique quotient of Placecast’s Location Verification Product. It is interesting to know that Placecast relies on data collected from mobile carriers. The company says that this is the key difference that plays an important role.
In fact, mobile carrier Sprint is one of the key data providers. Sprint-owned Pinsight Media is where they get their primary data. If that has got you wondering why is that data more reliable, Goodman answers that. He said that this data was not created for ad tech. But instead, he notes that carriers make sure that your call isn’t dropped when transferred from one cell tower to another, which makes it critical data.
Location Verification Product will have complete autonomy, the company promises. It will indeed be managed by a new business unit within the company to ensure objectivity and independence. When it comes to the question of privacy, it is subject to the privacy policies of the carriers themselves.