“Thinking outside the box” can be cliché, but you rarely hear the phrase, “think inside the box.” Data companies are not a novelty in the marketing world. However, they provide valuable insights on audiences, specific consumer behaviors and tendencies. Each data provider brings its own insights to the table. How those insights are packaged, delivered and reinforced is where the true value lies.
Moasis & Esri Combine Forces
Moasis teamed with Esri to draw insights from Esri’s Lifestyle Tapestry segmentation, which provides demographic, consumer and business information for application into a real-time mobile advertising platform. Esri’s Tapestry data classifies U.S. neighborhoods into 65 market segments based on socioeconomic and demographic factors, then consolidates them into LifeMode and Urbanization Groups. For example, one of Tapestry’s LifeMode groups is “High Society” which represents residents of the seven High Society neighborhoods that are affluent and well educated. This group represents slightly more than twelve percent of all U.S. households but generate nearly one-quarter of the total U.S. income.
The Next Generation of Geofencing
By integrating Esri’s neighborhood profiles within the next generation of geofencing, known as the Moasis Geo-Grid, brands and agencies are able to locate consumers within a fixed cell, or a cluster of fixed cells, and target them with the marketing message that is most relevant. The grid technology helps to identify and target the right people at the right place at the right time through a unique cell-based approach. Marketers can focus on the precise cells that are driving conversions and meeting the brand’s goals. In a sense, it’s utilizing the data within a “box.” For instance, if a brand wants to target Generation X’ers in San Francisco to make them aware of a new product that is suited for their family, the brand can target cells with the Lifestyle segment of “Up and Coming Families” to reach those consumers.
Redefining Delivery and Optimization
Moasis has created the technology to not only aggregate valuable data into cells, but more importantly it has redefined the delivery and optimization of mobile marketing campaigns based on cells. The Geo-Grid takes geofencing a step forward by introducing ways to better identify and target areas on a map. Traditionally, big brands have targeted consumers by designated market area (DMA), city, town or even ZIP Code. The Geo-Grid can provide a more granular option depending on where the brand wants to target its marketing dollars. For instance, a major brand can target the cell with AT&T Park during a Giants baseball game. Alternatively, that same brand can target all of San Francisco. At the end of the day, it depends on what the key performance indicators (KPI) are for that business. Do they want to reach baseball fans during the game or do they want to reach a larger San Francisco audience? Finally, taking a Geo-Grid approach allows the marketer to store the campaign data and revisit cells that are performing the best, as well as remove wasteful impressions and target the cells that are underperforming.
Figure 1: Illustration above depicts the Moasis Geo-Grid and its ability to target down to the cell level with first- and third-party data layered within the grid.
“Inside the Box Mentality”
From “outside of the box,” you may think there is nothing new about this technology. Brands have been targeting consumers with third-party data for many years now. How does the Moasis and Esri partnership differ from other players in the market? It’s the “inside the box” mentality that provides the ability to choose the appropriate data or market segment (e.g. Up and Coming Families). In addition, users can choose the specific cells to target (e.g. a 30-45-year-old demographic neighborhood in San Francisco). And, most importantly, users can optimize the brand’s marketing dollars by turning off the cells where the campaign is not working. Because the cells are fixed within a Geo-Grid, meaning the geofence doesn’t have to grow and shrink, the brand will avoid subjective measures to optimize. Essentially the brand is creating it’s own marketing rules within the platform.
Figure 2: Illustration above depicts the Moasis marketing rules in which an advertiser can instantly create audience rules utilizing first- and third-party data as well as place rules (ex: any cell with a coffee house).
Content providers and publishers are increasingly seeking new ways to create value for their content. In parallel, brands and advertisers are looking for new opportunities to get their messages in front of the right audience at the right time. Data providers, such as Esri, have a unique opportunity to leverage data for the consumer world by partnering with a company that harnesses the power of location. Just as consumer and demographic data are changing by the minute, geofencing is becoming more sophisticated. Understanding consumer segmentation is an area that is important enough that it needs a place to live and evolve. Thinking outside the box simply does not apply.