Foursquare Analytics boasts an impressive new dashboard, combining a given company’s foot traffic data with 93 million mapped locations.
Method to the madness
The new dashboard is designed to collaborate with in-house analysts to yield patterns in foot traffic unique to that company.
Companies such as Equinox, H&M, Taco Bell, and TGI Fridays have been testing Foursquare’s new service.
Using frequency and time of traffic, stats can determine customer loyalty and patronage, which in turn can be compared to competitors.
Foursquare plays to business and consumers
Having previously teamed up with Snapchat and Nielsen, Foursquare has been doing their homework on tracking digital ads as they correlate to in-store sales.
Location data has fast become the strongest indicator of repeat business, moving beyond the typical approach of widespread mobile advertising.
Look into my eyes
Forecasting when and where potential customers will visit a store is a cost-effective solution yielding more detailed results then traditional metrics.
As this new form of location specific data-mining gains speed, market advertisements will become more efficient at targeting unique clientele.
Do you use geo-location data for your campaigns? Let us know what works in the Comments.