“We want to be the Nielsen of the real world,” said Foursquare CEO Jeff Glueck, speaking at the CB Insights Future of Fintech Conferencein New York.
“We already measure and tell advertisers which ads drive people to the Olive Garden or the Jaguar dealership,” he continued. But he said he thinks that there are more places Fourquare could apply its data.
“We’re thinking now about the intersection of the advertising world and the real world.”
Foursquare’s location-based data has already revealed some pretty powerful insights, most notably nailing Chipotle’s recent sales numbers based on foot traffic data. And their bread and butter is telling businesses which ads are driving people to which businesses, but Glueck revealed that matching up this ability with “set-top box data” from televisions is the next big area of attack for his company.
“[We want to] eventually tell TV advertisers like a car company or a film company: seeing this ad vs. this different ad campaign drove…this demographic to walk into your storefronts.”
Matching data from TV ads to actual shopping behavior promises rich insights, but sourcing the data is challenging..
“That’s where I think that we don’t have yet have full access to the right set of set-top box data with the right sample match to do that,” Glueck said. “But it’s gonna happen.”