Foursquare Launches Sales Impact Attribution Features

Foursquare, a business that specializes in geolocation technology, has just announced Sales Impact, a new product that is part of its suite of campaign attribution tools. Through the utilization of this tool, marketers are able to analyze the impact that multichannel campaigns have on sales by combining location and purchase details.

In the past, the Foursquare Attribution goal utilized geolocation for consumers who were logged in to evaluate foot traffic to stores and other signals in order to estimate sales. Marketing professionals are able to better make the dots between campaigns and purchases because to the addition of purchase data and new analytics that Sales Impact provides.

At every stage of the consumer experience. During a campaign, Sales Impact gives users the ability to compare signals across the entirety of the purchase journey. This includes the impression that a customer has when they first come across an advertisement, as well as the impression that they have when they enter a store and make a purchase.

There are new metrics. Across the entirety of the customer experience, Foursquare’s Sales Impact platform incorporates seventeen new metrics that allow for extensive measurement and comparison analytics. Both the average basket size and the sales lift are included among the measures.

The ability to make adjustments to campaign plans in the middle of the campaign depending on the aspects that have an effect on purchases is made possible by real-time reporting updates on campaign metrics. Sales Impact also seeks to simplify the process of measuring the return on investment (ROI) of marketing campaigns.

Acknowledgment for several channels. Across digital sites, social media, radio, cable television, linear television, and out-of-home advertising, Foursquare Attribution is able to measure the number of ad impressions for campaigns.

The multitouch attribution mechanism utilized by Foursquare accounts for 15 billion human-verified check-ins, 2 billion transactions, and 83 billion visits annually. In the model of the company, the customers have control over the data that is acquired for the purpose of protecting their privacy.

Why it is important to us. There has been no disappearance of the traditional in-store purchasing experience at brick-and-mortar establishments. By using statistics conducted by Capital One, Foursquare demonstrates that in-store sales accounted for 84.5% of total retail sales in February 2024. This figure represents a little decrease of 1.01% compared to the previous year. And income from traditional stores in the United States increased by 5.14 percent during the same time period.

As holiday marketing campaigns become more widespread in the fourth quarter, merchants will be searching for ways to analyze the impact of those ads throughout a multichannel journey that is complex. Many outlets, like cable television, social media, and mobile applications, are digital and measurable, which is the good news in the midst of all this fragmentation. Customers rely on mobile devices and other digital channels to make judgments regarding their purchases, including decisions regarding the gifts they will give over the holiday season. Consequently, despite the fact that transactions made in physical stores continue to be among the highest, there is a digital component to this trip that marketers can harness and monitor.