Foursquare on Monday unveiled an analytics dashboard for brick-and-mortar business to chart their popularity, and that of their competitors.
The new tool measures “actual, measurable, real-world visits,” in the words of Foursquare CEO Jeff Glueck.
“It’s a dashboard for insights on chain-level foot-traffic performance that can be easily compared to a competitive set and to the broader industry,” Glueck notes in a new blog post.
Beta partners include Taco Bell, TGI Fridays, H&M, Lowe’s and Equinox.
As for why brands should bother with physical retail, Glueck notes that 92% of commerce still happens in the real world.
To track foot-traffic patterns, Foursquare relies on its Places database, which powers more than 100,000 mobile apps, as well as in-store visit data from its mobile panel. That is made up of a group consumers who have opted in to always-on location sharing.
To date, Foursquare could provide businesses with similar insights, but it only did so on a case-by-case basis.
For Foursquare, the analytics offering is just its latest attempt to ingratiate itself with the marketing community. Last year, the company bowed an attribution tool, which can measure the conversion of media spend into real world visits to retail locations.
Glueck assumed the top spot at Foursquare after co-founder Dennis Crowley relinquished the CEO role in early 2016.
Previously, Glueck served as the local search and discovery platform’s COO.
Source: Media Post Mobile