LocalResponse Goes Pro, Launches Analytics Dashboard for Brands to Act on Geo-Targeted Consumer Intent
LocalResponse announced some big news today in the way of every startup’s favorite word: monetization! (Well, it might be your least favorite if your name rhymes, say, with Shmumblr). The advertising platform, which helps marketers make good on real-time consumer intent by mining mentions and location-enabled check-ins on Twitter, Foursquare, Gowalla and the like, is now offering an “analytics and action platform for marketers.”
In the past, LocalResponse has managed fly-over state friendly campaigns for clients like Walgreens. Consumers who checked-in to Walgreens on Foursquare or merely tweeted “I’m at Walgreens” or even “I’m going to Walgreens,” got a tweet back directly from the store offering promotions and coupons. Click-through rates for that that kind of offering are more than 50 percent, a good 20 times that of other direct response marketing campaigns, says the startup.
The secret sauce of LocalResponse’s approach to social media deluge is that the company is able to analyze both implicit and explicit check-ins. “No one is using semantic NLP (natural language parsing) to extract the implicit ‘check-in’ or presence—in fact we have a patent pending on this process,” LocalResponse CEO Nihal Mehta told Betabeat. “Sprout Social, Tweetdeck, SocialFlow all operate on generic mentions, instead of ‘presence’ like LocalResponse does,” he added. Data from Foursquare, who is also trying get in on the ad game, is only two percent of LocalResponse’s data set. “The vast majority comes from people mentioning they are at places or doing things on Twitter itself!” he said. Read More