Yesterday at the Mobile Media Summit in NY, Thinknear by Telenav (NASDAQ: TNAV), announced the launch of Location Score™ and the Location Score Index™, both part of an industry-first initiative to measure the accuracy of location data used in mobile marketing campaigns to improve targeting and campaign performance for marketers. Location Score™ Location data is a critical part of the mobile marketing ecosystem but the accuracy of data varies greatly industry wide. Until now, brands and agencies lacked the tools they needed to ensure the use of highly accurate location data, which often resulted in impression waste and often ineffective mobile campaigns.
Thinknear’s Location Score is the first technology to give marketers quantified insight into the true accuracy of their mobile location data. The Location Score is a 0 to 100 point scale that helps marketers understand the quality of location data used in their campaigns. The technology uses Thinknear’s proprietary platform to quantify the difference between a mobile user’s stated location (per an ad request) and the true physical location of the user. Thinknear found that while 68% of mobile impressions had an assigned Lat-Long only a third of those were accurate to within 100 meters of that supposed location. Their other key findings from the study include:
- 32% of mobile display impressions with a Lat-Long were accurate to within 100 meters
- 42% were off by 3,200 meters or more (2 miles)
- 26% were off by more than 10,000 meters, which is more than 6 miles
Location Score Index is a new quarterly report from Thinknear that provides insights into the overall state of location data currently available to the mobile industry. In order to put together the initial report, Thinknear sampled and analyzed data from more than 3.5 billion publisher ad requests, 53 million ad impressions, and location accuracy tests on more than 20,000 consumer ad experiences over the first four months of the year. Thinknear compared the location information the publisher included in the ad request with the user’s real location, and then identified the discrepancy. In the US, marketers will spend nearly $4.5 billion on location-targeted advertising this year, accounting for about 40% of all spending on mobile marketing in 2014. Their research is the first comprehensive analysis and brings light to a huge problem in the tech industry. According to Eli Portnoy, the general manager of Thinknear:
“Demand has risen quickly for location-based campaigns. Many ad impressions are sold with the promise of location targeting—but the technology used by some networks to deliver against that promise is anything but accurate. We use the Location Score technology internally to deliver better campaigns and, by releasing the Location Score Index publically, our goal is to make marketers aware that some location sources are better than others. We hope that app developers, networks and platforms selling location information will increase the quality of their data to help push the market forward.”
Location Score technology will also drive performance for location-targeted mobile campaigns.
“We’ve seen that the quality of location data makes a significant impact on campaign performance. Location Score is a great tool that will help us ensure the targeting is accurate and that performance is optimized for our clients”, said Thinknear client Alex Richter, Camelot Strategic Marketing Media.
Highlights from the Location Score Index include:
- The overall mobile industry scored 49 out of 100 total points for location accuracy
- 67 percent of industry ad requests included latitude and longitude data
- 34 percent of ad requests with location data were accurate to within 100 meters of the user’s true location
- 45 percent lift in mobile time-on-site metrics for campaigns leveraging top tier location data
- 30 percent to 51% lift in store visitation rates fore campaigns leveraging top tier location data
Download Location Score by Thinknear here.
About Thinknear: Thinknear is a location technology company and full-service mobile advertising network focused on delivering amazing advertising campaigns for agencies, brands and consumers. Thinknear’s platform delivers the accuracy, scale and technology required to effectively leverage mobile location data to power better consumer experiences. In mobile, precision matters, and as a division of Telenav,Thinknear leverages exclusive access to over 14 years of proprietary location data. To learn more, please visit www.thinknear.com and follow @thinknear on Twitter.