Ahead of the weekend, MMW learned that Placecast — a leading location-based mobile data management platform — announced the launch of Location Verification, which is a new independent ad verification product that validates location accuracy of geo-targeted mobile ad campaigns.
Location Verification is the only product in the market using highly accurate carrier data from Pinsight Media, a wholly-owned subsidiary of Sprint, to confirm the location accuracy of mobile ads.
This solution will help diminish wasted mobile ad dollars and more effectively reach target audiences.
Location Verification debuts at a crucial time in the industry as an estimated $16 billion will be spent on targeted mobile ads in the U.S. this year. 96 percent of marketers consider location data to be important, but 40 percent expressed concern around the quality of location data. Rightfully so, as initial Location Verification results show at least 25 percent of media spend is wasted, and in many cases much more. Of the $16 billion spent this year on targeted mobile ads, approximately $4 billion is squandered.
“It’s staggering to see how many millions of dollars are wasted every year based on old or inaccurate data,” said Kevin McGinnis, CEO of Pinsight Media, a wholly owned data and insights subsidiary of Sprint. “We are proud to support solutions like Location Verification that help raise the performance bar in the mobile advertising industry.”
To learn more about Placecast’s new offerings, click here.