The identification of scalable audiences is a fundamental task of marketing campaigns – after all, advertisers want to reach the most potential customers possible. Traditionally, many advertisers select their target audience based on deterministic real-world behaviors (for instance, what stores they’ve visited in the past). But what if you want to reach even more potential customers?
Reach extension, as a strategy, can be used to expand the potential reach and conversion rate of a campaign by reaching individuals who are similar to people already confirmed to be a brand’s customers. While extending reach is a common practice, it is difficult to increase the scale of an audience while maintaining the degree of precision and accuracy needed to ensure high campaign performance.
In a recent experiment, Foursquare set out to develop a scalable method for the identification of quality extended audiences.
We looked at:
- Eight brands across verticals (to ensure diversity in visitation patterns and breadth of popularity): Beauty retailer, Telecomms, Automotive, Hospitality, Banking, and financial services, Home Improvement, Fast Food, Big-box retailer
- Conversion and recall rates as metrics for success.
- How to build a scalable calculation for term and user scores
- And much more
Download the e-book to find out what we learned and how it will impact the future of audience-building.
Want to learn more about how location data can help you reach more customers? Get in touch with Foursquare.