NEW YORK, NY, April 7, 2014 — Verve Mobile, the leader in location-based mobile advertising, and RetailNext, the in-store analytics market leader, today announced a partnership to bring the combined power of location-based advertising and the most comprehensive in-store analytics to brick-and-mortar retail customers.
“Retailers are rapidly adopting location-targeted mobile advertising to drive consumers into stores. They love having the ability to reach consumers on their mobile devices, when they are out and about in the real world, closer to the buying decision than ever before” said Tom MacIsaac, CEO of Verve Mobile. “But they also want to see the complete picture. They want to understand how mobile advertising affects in-store behavior.”
Now with the combined capabilities of Verve and RetailNext, retailers using the technologies can leverage a full range of tools that enhance their ability to see how location-targeted mobile advertising is correlated to driving foot traffic and sales.
“Now, a physical retailer can reach a shopper with an ad based on their location and context, invite the consumer to visit a store nearby or incent them with a special offer,” said Alexei Agratchev, CEO of RetailNext. “By leveraging advanced RetailNext in-store analytics technology, retailers are equipped to understand the performance and effects of location-based marketing efforts. This is about extending our respective value to retailers through collaboration.”
“One of the hottest topics in mobile advertising today is attribution,” said Mike Boland, Senior Analyst and VP Content, BIA/Kelsey. “Retailers intuitively get the value of location-based mobile advertising but, for now, the true ‘closed loop’ of coupons and mobile payments creates too much friction for consumers and marketers, especially for branding and other ‘upper funnel’ advertising. Partnerships that combine location targeting and in-store technologies are a major improvement to existing solutions and will enable retailers to better understand the connection between their mobile advertising and in-store dynamics.”
About Verve
Verve Mobile is the leader in location-based mobile advertising. Verve’s customers are national brand advertisers who want to engage consumers on their mobile devices with location-aware, data-driven and highly targeted marketing. We also serve premium publishers across the nation, delivering the platforms and services they need to power and monetize their mobile properties. The Verve location powered technology platform and the proprietary data it generates are revolutionizing mobile media and advertising. Verve has offices in New York, NY, Chicago, Washington DC and San Diego, CA.
About RetailNext
RetailNext is the leader in Applied Big Data for brick-and-mortar retail, delivering real-time analytics that enables retailers, shopping centers, and manufacturers to collect, analyze, and visualize in-store data. The company’s patented solution uses best-in-class video analytics, Wi-Fi detection, Bluetooth, data from point-of-sale systems, and other sources, to automatically inform retailers about how people engage with their stores. The highly scalable RetailNext platform easily integrates with promotional calendars, staffing systems, and even weather services, to analyze how internal and external factors impact customer shopping patterns, providing retailers with the ability to identify opportunities for growth, execute changes, and measure success.
RetailNext measures the behavior of more than 800 million shoppers per year by collecting data from more than 65,000 sensors in retail stores and analyzing trillions of data points. Headquartered in San Jose, CA, RetailNext is a growing global brand operating in 33 countries. For more information, visit www.retailnext.net.
Media contact:
James Smith
Verve Mobile
917-362-9823
james@vervemobile.com