Thinknear Launches GeoType, a Groundbreaking New Approach for Understanding and Reaching Customers
December 17, 2018 – Thinknear has launched GeoType, a new technology that completely transforms how marketers understand and reach consumers. GeoType combines audience intelligence and location-based data with machine learning capabilities to reveal a never-before-seen and hyper-granular view into customers’ lives — who they are, their motivations, behaviors, and values.
GeoType takes a “bottoms-up” — rather than a “top-down” — approach to learning about and reaching valuable yet largely unrecognized audiences. As an additive lens to traditional marketing personas, GeoType is rooted in mobile location-based intelligence, enhanced with offline and online behavioral data, and finally fed into Thinknear’s proprietary machine learning algorithm.
“Historically, marketers have relied on pre-determined demographic buckets, dividing customers into segments and personas based on limited attributes — standalone characteristics like age, gender, race, or income,” said Annie Flippo, Head of Data Science at Thinknear. “GeoType challenges that status quo. It’s a significant advancement in how marketers can find and reach audiences, creating an entirely new pathway to customer knowledge and segmentation based on users’ locations in the physical world. This empowers marketers to remove their subjective opinions on who their audience is and focus on discovering what the data tells us.”
Traditional marketing segmentation and personas have long been ripe for disruption. Guided by small-scale focus groups, surveys, and panels, these approaches are typically influenced by pre-existing bias and limited by an overreliance on standard demographic traits. The resulting insights are often predictable, creating neither incremental reach of new audiences nor growth. GeoType, however, is informed by observed real-world behaviors at scale and unbiased machine learning technology. By pairing location data with demographic and psychographic attributes, marketers get more nuanced, actionable audience insights that help them identify new customer groups and deliver more personalized messaging that drives engagement from those same groups.
Driven by accuracy and breadth of audience data, this cutting-edge technology analyzes groups across more than 1,000 customer attributes and specialized visitation data. This helps to create a far more detailed portrait of a consumer. GeoType understands consumers at a 1:1 level — it’s deterministic and linked to groups of individual users, instead of looking at a standard block groups. This gives marketers a wealth of valuable consumer insights based on demographic factors, behaviors, interests, values, visitation patterns, frequency of places visited, how long they stay, and more.
Marketers within the retail, automotive, grocery, and restaurant sectors especially stand to benefit from using GeoType. Grocery retailers, for example, can discover new audiences hidden within predetermined customer personas like “Health Conscious Millennials” or “Thrifty Moms,” helping them find and target underserved consumers and tailor messaging to their traits, needs, and values. For instance, users in the “Affluent Savers” GeoType care about stretching their income and saving money on quality, organic foods. They’re slightly different from a “Healthy & Wealthy” GeoType, who also desire quality, organic products, but don’t necessarily value stretching their income. Or, finally, a user within the “Eco-Friendly Enthusiast” GeoType is very concerned with brand’s impact on the environment, yet has a high affinity for expensive air travel and luxury automotives. This is the level of granularity that GeoType offers.
“This deep-dive into consumer traits, online and offline behaviors, visitation patterns, and brand affinities provides marketers with a wealth of valuable insights,” Flippo explained. “So, GeoType aids marketers in eliminating wasteful ad spending by maximizing the impact of campaign messaging and reaching the consumers who are most valuable to your brand. Thinknear is deploying GeoType across multiple verticals and activating campaigns for clients who are ready to engage and market in a whole new way to a whole new audience.”
About Thinknear by Telenav
Thinknear is a location-based mobile marketing platform that connects people and brands in the moments that matter. We drive accuracy and performance for mobile marketers through large-scale, high-quality data applied with a human touch. With full-service and self-service solutions, we offer insightful planning, targeting, optimization, and measurement capabilities for businesses and brands of all sizes.
Thinknear is a division of Telenav, the pioneer of GPS navigation for mobile phones which continues to lead innovations in location-based services. To learn more, visit www.thinknear.com.