In a move that signals just how important location-based marketing and media targeting have become, xAd, the location-focused mobile advertising firm, has just rebranded to GroundTruth.
Dipanshu Sharma, Founder and CEO, of xAd, said in a post:
“The name xAd served us well for the past eight years. But it also limits us—the word “ad” is in the name, after all. After building a solution that receives more than a billion physical visits a month across 21 countries around the world, it became clear to us that a change was needed.”
‘Ground truth’ is frequently used as a term to refer to information obtained through direct observation or evidence in contrast to inference.
For the company, it allows them to establish a new presence to move beyond its original mission and help establish a larger data-driven business.
Monica Ho, CMO of GroundTruth, adds:
“What we’ve found is that location goes far beyond helping to increase sales or store visits through ads. It can actually move markets, drive innovation and even save lives. The rebrand represents our desire to strip away the complexity around our technology to clearly demonstrate how people across many industries can benefit from these services.”
GroundTruth currently operates across 21 countries and has increasingly noted the connection between smartphones and foot traffic. However, such foot-traffic insights can be used to help a large range of businesses, from retailers to real estate agents. Offline in-store visitation shows a very different commitment from consumers and a greater level of campaign engagement compared to a mobile user just liking a post on Facebook by the same brand or retailer.
In addition, GroundTruth recently commissioned InfoScout, the third-party insights company, to verify the precision and coverage of its data at selected retailers. The report found that GroundTruth is able to interpret physical location at over 90% accuracy.
A recent study by PwC found that showrooms in particular are fast becoming an appealing option for retailers who have previously only operated online. In addition, the offline retail market is predicted to reach $4.4 trillion this year with location-targeted ad spending making up 45% of all mobile advertising revenue.
However, that does not mean online retail is in decline. On the contrary, PwC also predicts that offline retail will see considerable decline until 2020. It seems the best option for brands and businesses is still a combined approach – targeting online and offline shoppers.
GroundTruth has already begun to advise companies and brands on their strategic location investments. Among partners and clients are McDonald’s, L’Occitane, Timberland, OUTFRONT Media, iHeartMedia, and Univision.
“We’re at a time in our industry when brand safety, viewability standards, and ad fraud are top of mind. With a brand position like ours, we know that we must be vigilant in seeking third-party validation.”