Snapchat Signs Data Deal With Foursquare for Better Targeted Geofilters
Snapchat ads are getting a bit more targeted. The mobile app has inked a deal with Foursquare to power its location-based geofilters with more data that marketers can use to pinpoint where their ads are served.
Snapchat advertisers now have access to Foursquare’s data points that map 90 million locations when running geofilter campaigns. (Geofilters are the colorful graphics that overlay photos and video.) While Snapchat started offering location data to geofilter advertisers a year ago, brands in theory will now be able to create more targeted and specific parameters for geofilters using Foursquare’s data.
For example, a retailer could home in on a specific store location instead of zeroing in on the larger shopping center. Or a fast-food brand will be able to pinpoint specific restaurants. Previously, brands have targeted broader spaces, like thousands of high schools, with Snapchat’s location-based ads. According to Snapchat, the deal will open “thousands” of locations and categories for brands to buy ads against, like “parks” or “museums.”
Snapchat’s data play will likely intrigue marketers who have long believed in Foursquare’s mobile-social data. The Venice, Calif.-based company is buying polygon data, which maps specific store locations, from Foursquare. With fine-tuned data, Snapchat will hypothetically be able to sell more geofilters to brands and possibly open up some conquesting opportunities between competing marketers. In addition to letting brands pinpoint where their ads appear, Foursquare is pitching its data platform as an accurate read on where consumers and their phones actually are at any given moment.
As marketers increasingly demand more data and measurement from digital campaigns, Foursquare is the latest tech company to partner with Snapchat, which has similar deals with 11 other companies.
For Foursquare, Snapchat is the newest platform to benefit from its plethora of data for ad targeting. The company’s data play for marketers has been a major narrative for the past 18 months or so, and earlier this year, Foursquare made a big push into offline sales attribution. Twitter, Uber, Apple and Pinterest also rely on Foursquare’s data.
“Snap’s geofilters will be more interesting and specific, which will make Snapchatters happy,” said Mike Harkey, Foursquare’s vp of business development, in a statement. “Advertisers will surely have fun targeting certain place categories, such as movie theaters over Thanksgiving or big-box stores on Black Friday.”
This article first appeared in www.adweek.com
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