Local provider of geo-targeted ad serving technology, Vistar Media has partnered with New York based Verve, according to an October 31 report by MediaPost. The two companies are collaborating in the hopes of creating the “industry’s first multi-screen location-based marketing platform,” said the report.
The Philadelphia based Vistar Media will make its more than 100,000 digital screens available to Verve that already use an extensive store of location based data for marketing. On the other hand, Verve will make its own stores of geo-targeted of data available to Vistar and combined, the companies benefit from the accurate, real time data.
Two geo-targeted products
According to a Verve press release, The agreement will result in the development of two separate but equally powerful location based ad serving products – ad buying and multi-screen geo-fencing – that will provide media buyers the possibility of serving up ads that use location based data no matter what type of digital advertising and marketing campaign a company runs.
Utilizing their respective buying power, the two companies will buy “all digital media within the same geo-fence” while also being able to provide media buyers with information about whether consumers within their competitors’ areas saw both advertising formats or not. Vistar media says that this information will allow the media buyers to determine the exact effect on user engagement and interaction, brand metrics and even foot traffic.
Since, according to James Smith, Verve’s CEO, the company has already seen an increase in foot traffic alongside an increase in advertising sales and ad performance.
Smith attributes this increase to the Verve mobile platform tied with location data, saying, “Thanks to the power of real-time reporting and data driven audience targeting … location-based media can become part of every digital media campaign.”
Co-founder of Vistar media Jeremy Ozen said:
“We have also been asked by numerous advertisers to find a way to connect our platform with mobile.”
Lucky for Ozen that in addition to being the first of such location-based products in the industry that do just that, the location based geo-fence allow media buyers to take their digital advertising and marketing campaigns much further by allowing them to focus on users in competitor areas. They hope that this focus using “Real World Retargeting” technology will get consumers to buy Vistar inventory.