|By Marketwired .||
|May 19, 2014 12:06 PM EDT||
NEW YORK, NY -- (Marketwired) -- 05/19/14 -- Thinknear by Telenav (NASDAQ: TNAV), today 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. The announcement was made from Mobile Media Upfront as part of Internet Week New York and was first reported in Street Fight and AdExchanger.
Location data is a foundational piece of the mobile marketing ecosystem, but the accuracy of industry data varies greatly. To date, brands and agencies have lacked tools to ensure the use of highly accurate location data, resulting in impression waste and frequently 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.
Location Score Index
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. To compile 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.
"Demand has risen quickly for location-based campaigns," said Eli Portnoy, general manager, Thinknear. "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. Thinknear also worked with Placed, Inc. to validate the correlation of Location Score with campaign performance. "Working with Thinknear, Placed has directly measured a clear correlation between accuracy of location and in-store visitation," said David Shim, founder and CEO of Placed. "Thinknear's Location Score provides a metric to advertisers to quantify the quality of location as it relates to their mobile ad campaigns."
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 was seen in mobile time-on-site metrics for campaigns leveraging top tier location data
- 30 to 51 percent lift was seen in store visitation rates for campaigns leveraging top-tier location data
For more information about the Thinknear Location Score, and to download the full Location Score Index for free, please visit: http://locationscore.com.
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.
About Telenav, Inc.
Telenav's mission is to help reduce stress, improve productivity, and make life more fun for people on the go.
Copyright 2014 Telenav, Inc. All Rights Reserved.
"Telenav," "Thinknear," the Thinknear logo, "telenav.com," and "thinknear.com" are registered and unregistered trademarks and/or service marks of Telenav, Inc. Unless otherwise noted, all other trademarks, service marks, and logos used in this press release are the trademarks, service marks or logos of their respective owners.
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