September 27, 2023
NEW YORK, Sept. 12, 2023 (GLOBE NEWSWIRE) — Foursquare, the industry’s leading geospatial technology platform, today announced the results of the Total Economic Impact™ of Foursquare Attribution, a commissioned study conducted by Forrester Consulting on behalf of Foursquare. The study found businesses realized 500%+ return on investment (ROI) over a three-year period once they implemented Foursquare Attribution.
With the location intelligence market projected to reach $50.88B by 2030, 78% of data strategy leaders acknowledge location data is essential, yet many struggle to tap into their location data in a valuable way. Prior to adopting Foursquare Attribution, the companies interviewed by Forrester measured the impact of advertising campaigns in a silo and used multiple key performance indicators (KPIs) that lacked the ability to view performance across channels and partners. With Foursquare, companies gained consolidated and data-driven insights using one common KPI that enabled them to understand how advertising and marketing spend drove foot traffic to stores. Rather than rely on guesswork, companies unlocked the value of existing location data to create stronger customer engagement and optimize spend.
“Location intelligence is the driving force of success in today’s business landscape, and at Foursquare, we are dedicated to empowering leaders with the tools they need to make data-powered decisions and drive measurable success. Our advanced, privacy-first platform is designed to unleash the full potential of location data, helping businesses reduce costs, increase revenue, and pave the way for endless possibilities for growth and innovation,” said Michele Morelli, senior vice president, marketing and communications, Foursquare.
Foursquare’s location technology provides data solutions that solve businesses’ most pressing challenges. In addition to Foursquare Attribution, Foursquare also recently introduced Foursquare Graph, an industry-first application of graph technology to geospatial data that reinvents how businesses derive insights from location intelligence. Foursquare Graph enables higher velocity innovation, improves data quality, and surfaces critical insights for customers. By leveraging graph technology to analyze places and movement data, Foursquare solves one of the biggest obstacles organizations face today – accelerating time to valuable insights.
To continue to advance how organizations acquire new value from their location data, Foursquare expanded its leadership team and welcomed product strategy veteran Wade Wegner as SVP, Global Head of Product, and seasoned developer technologist Jason Hudak as SVP of Engineering.
Foursquare’s leading geospatial technology platform is the trusted attribution partner for over 1000 advertisers and hundreds of media platforms including Snapchat, TikTok, Pinterest, Nextdoor, Reddit, Pandora, Spotify, Roku, Vistar, and Yelp. The company’s platform enables access to global points of interest data to scale infrastructure growth, build more engaged consumer apps, and create more effective marketing campaigns.
Foursquare is the industry’s leading geospatial technology platform, designed to help businesses make smarter decisions and create more engaging customer experiences. A pioneer of the geolocation space, the company’s comprehensive suite of products and developer tools are used by the world’s most recognizable enterprises to gain in-depth understanding into locations and human mobility. Powered by deep machine learning and privacy-first insights, Foursquare’s solutions are redefining how organizations derive value from location intelligence.