Foursquare Labs has been granted a patent for a system and method that attributes in-store visits to exposure to advertisement impressions. The system collects impression data and uses it to identify users who were exposed to the ad impressions. It then analyzes location data, activity information, and beacon data points to determine if the users visited a target place. The system establishes a control group of users who were not exposed to the ad impressions to assess the impact of the ads on physical in-store visitation behavior. GlobalData’s report on Foursquare Labs gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Foursquare Labs, Dynamic premium pricing was a key innovation area identified from patents. Foursquare Labs's grant share as of September 2023 was 46%. Grant share is based on the ratio of number of grants to total number of patents.
Analyzing impact of ad campaign on in-store visitation behavior
A recently granted patent (Publication Number: US11734712B2) describes a computer-implemented method for analyzing the impact of a campaign on visitation behavior associated with a location. The method involves providing a graphical user interface for displaying campaign data and generating an alert when impression data is available for processing. The impression data, which includes user identifiers of users exposed to media related to the campaign, is accessed and compared with baseline user data to determine the conversion rate of the campaign.
The method includes generating a set of baseline user data based on the location, which consists of raw location and device sensor readings used to identify baseline users who visited the location but were not exposed to the campaign media. User identifiers for both baseline users and impression users are hashed to protect privacy. A comparison is then performed between the hashed user identifiers to identify a set of user identifiers that are common to both the baseline and impression users.
Based on various analyses, including a lift analysis of the identified user identifiers, the conversion rate of the campaign media is determined. The user interface is updated to present the conversion rate, along with campaign data and demographic data, as part of an updated attribution report for the campaign.
The patent also includes additional claims related to determining the conversion rate during a specific window of time relative to user media consumption, using device identifiers as user identifiers, monitoring a source database for impression data, identifying user groups associated with demographic features, and calculating an impression index based on the difference between user identifiers.
In addition to the method, the patent also covers a non-transitory computer-readable storage medium containing instructions for attributing a conversion event to a campaign, and an attribution system comprising a memory and a hardware processor for performing the described operations.
Overall, this patent presents a computer-implemented method and system for analyzing the impact of a campaign on visitation behavior, providing valuable insights into the effectiveness of media exposure and conversion rates.
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