MomentFeed Releases v1.1 With Major New Features
Marketing platform combines social, local, and mobile (SoLoMo) to increase customer engagement at the point of sale via Facebook, Foursquare, and Twitter.
Santa Monica, Calif. – February 13, 2012 - MomentFeed, Inc., the first location-based marketing platform for the enterprise and a leader in the SoLoMo space, announced today it has released version 1.1 following the company’s initial rollout with brands in the restaurant and retail categories. New features further empower large, multi-location brands to maximize consumer engagement at the local level via Facebook, Foursquare, and Twitter.
With version 1.1, MomentFeed introduces the following capabilities:
- Real-time Twitter feeds from the point of sale: Monitor and respond to customers while they are in-store, in the buying moment
- Sort actual customers by Klout Score to identify, engage, and reward influencers
- Measure the reach potential and media value of tweets, check-ins, and other location-based engagements
- Advanced venue management tools centralize company location data and dynamically synchronize with Foursquare and Facebook
- Comparative analysis between custom location groups to measure regional performance differences and enable sophisticated A/B testing
- Rank Foursquare Tips by the “Done” metric to see which are most popular at the local, regional, and global levels
- Measure customer sentiment at the local, regional, and global levels
“Version 1.1 represents a huge step toward our goal of providing a universal and comprehensive location-based marketing platform,” said MomentFeed Founder and CEO Rob Reed. “These new features add tremendous value for brands at the corporate and local levels. We’re providing the real-time intelligence to respond to customers in the buying moment, while providing the deep insights and analysis that generate dividends over time. For multi-location brands, this is the crème de la crème of social data.”
MomentFeed is adding a unique dimension to Klout as an influence metric. By tracking Klout Scores at the local level, MomentFeed shows brands which locations have the most influential customers and, therefore, which are generating the most value from social sharing at the point of sale. These same metrics can be leveraged through MomentFeed’s competitive intelligence tools to determine influence levels for a competitor’s customers at the local, regional, and global levels.
Brands can now also leverage the MomentFeed platform for important A/B testing of campaigns, multi-channel messaging initiatives, and other efforts to increase engagement at the point of sale through comparative analysis features. By creating custom location groups in the MomentFeed dashboard, brands can, for instance, run Foursquare Specials for a specific group of locations and measure lift in engagement at those locations compared to a similar control group. The sophisticated analysis capabilities help brands to optimize campaigns and more efficiently allocate resources based on location-specific engagement data.
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MomentFeed Partners with Location3 Media
Companies will be exhibiting at the International Franchise Association (IFA) Convention, February 11 – 14.
Brands now have the option of leveraging the MomentFeed platform as a managed solution from their agency partner.
Today, we’re announcing a partnership with Location3 Media. As a strategic digital marketing partner, Location3 Media is able to provide a layer of services on top of the MomentFeed platform for their clients.
MomentFeed is available to large, multi-location brands and agencies as a self-serve solution. However, some brands and agencies are not staffed to manage the platform on a day-to-day basis. This is where partners like Location3 Media offer its expert services in the location-based marketing space.
“Data analysis is the backbone of everything we do, and MomentFeed stands out among location-based analytics providers,” says Alex Porter, president of Location3 Media. “That’s the reason we decided to invest in the platform and why we’re thrilled to partner with MomentFeed for continued management and analysis of localized campaigns.”
Channel partners like Location3 Media provide additional value to clients using the MomentFeed platform by performing analyses and providing reports on engagement, running campaigns on Facebook and Foursquare, and managing CRM via Twitter, among other services.
“Location3 Media has been a strategic partner of ours from the very beginning,” said MomentFeed Founder and CEO, Rob Reed. “This next step formalizes the channel partnership, such that brands now have an expert, third-party resource to manage and execute their location-based marketing strategies via MomentFeed.”
Read MoreAnnouncing Our Partnership with Foursquare
Collaborating to Streamline Venue Claiming and Optimization
Today, we’re announcing a partnership with foursquare to claim venues on behalf of our clients.
Claiming venues on foursquare is a process whereby brands take ownership of their respective venues, which correspond to each of their real-world locations, in order to leverage the foursquare Merchant Platform. This enables brands to do the following: update venue details, including the address, geocode, and branding; access venue analytics including customer demographics and loyalty; and manage foursquare Special campaigns for customers who check-in. For brands with a large number of locations, this can be challenging. This is one of the fundamental issues MomentFeed addresses.
“Our goal is to make it that much easier for brands to market through foursquare,” said MomentFeed CEO and Founder, Rob Reed. “The MomentFeed platform offers the added benefit of Venue Optimization™, which increases the likelihood of discovery and customer engagement at the point of sale.”
“We’re psyched to see the tools MomentFeed is building on top of our Merchant Platform,” said foursquare Director of Business Development, Jake Furst. “Optimizing the venue management process from claiming venues to managing foursquare campaigns will allow brands to increase both sales and engagement metrics through the MomentFeed dashboard.”
For current MomentFeed clients, this means taking control of newly opened venues on foursquare is as simple as entering a street address or uploading a CSV file to their MomentFeed account. In the restaurant, retail, hospitality, and banking industries, this can amount to hundreds of new locations every quarter. These new features significantly streamline the process for brands and foursquare alike.
For companies that are new to foursquare, MomentFeed’s Venue Optimization™ process simplifies the initial setup. This includes identifying and merging duplicate venues and updating all claimed venues with accurate details and branding. This is like SEO for a brand’s locations. Given that foursquare is facilitating real-world search, discovery, and social engagement, it’s imperative that venue information is as accurate and comprehensive as possible. foursquare venues are becoming key consumer touch points. They are truly brand assets and ought to be managed accordingly.
As we previously posted about, the search and discovery facilitated by foursquare Explore makes Venue Optimization™ that much more valuable and essential for large brands that want to market through the foursquare platform. Consumers are relying on the accuracy and consistency of venue data to locate and engage with brands in the real world. At MomentFeed, we’re committed to facilitating and maximizing these engagements at the point of sale.
Marketers for multi-location brands are realizing that the point of sale is the signal that truly matters in social. Global brands with 100 or 30,000 locations are not global brands. They are 100 or 30,000 local brands. As such, managing social at the global level perpetuates the waste and inefficiency of broadcast media. A Twitter follower or Facebook fan that can’t buy one’s products is largely irrelevant. With the rise of large-scale social platforms like Facebook, Twitter, Google, and foursquare, marketers can target their efforts where it matters…at the local level with a clear path to the point of sale. And they can manage this all through the MomentFeed location-based marketing platform.
Read MoreFoursquare Explore: Search, Social, and the Real World
Foursquare Explore is a social search engine for the real world. With MomentFeed, you can optimize for it.
Foursquare has made its previously mobile-only Explore recommendation engine available for the web. The feature provides personalized recommendations based on a user’s check-in history, the histories of their friends, their current location, and other preferences. Not only does the Explore feature considerably increase Foursquare’s value proposition for users by facilitating the discovery of new places, it significantly changes the value equation for brands as well.
We wrote about this potential in November of 2010 in a post entitled “Why the Hell Would I Do That? Four Reasons to Check-in.”
“The promise of intelligent recommendations is the feature that gets me most excited. Based on the data I volunteer through checking-in everywhere I go, whether it’s a public or private check-in, location-based services can use their aggregate data to accurately recommend other places I’ll like.”
Foursquare Explore is powered by algorithms that intelligently recommend places to consumers based on a broad range of criteria. These recommendations ultimately drive foot traffic (and sales) just as Google Search drives web traffic. As such, brands need to optimize their locations for search, discovery, and engagement in this new medium. How does one do that? By using MomentFeed, of course.
Read MoreConnecting with the Next Generation of Consumers
Research shows that SoLoMo (social + local + mobile) is the key to connecting with Generation Y
The Next Web published a broad aggregation of research-based stats for Generation Y marketers. Following are the most relevant highlights for multi-location brands seeking to connect with Generation Y (ages 13 – 24) and establish brand affinity and loyalty with the most powerful generation of consumers the country has every known.
- 66% would look up a store after learning their friend had checked in
- 71% report having liked a brand on Facebook just to receive an offer
- 91% make their Facebook Places and Foursquare check-ins public.
- 52% have over 300 friends on Facebook. Top 10%, over 1,000.
- 58% use Twitter “all the time”
- 62.7% of US undergraduates surveyed had an internet-capable handheld device.
- 67% access Facebook from their smart phone
- 75% upload photos via mobile
- 12% use foursquare
- 38% of students surveyed said they could not go more than 10 minutes without checking their digital device—about the time it takes to walk to class.
- 62% of youth brand and technology decisions are influenced by friends and family
- 23% access social network sites on their phones
- 11% purchase things via their phones
If you’re a major retail, restaurant, hospitality, or banking brand, the best way to connect with this generation is on mobile in a social context while they are in one of your actual locations…which to say, when they are present and engaged at the point of sale.
For more information, download The SoLoMo Manifesto.
Photo Credit: Mobile Youth
Read MoreThe Location-Based Engagement Stack
And how MomentFeed brings together the SoLoMo ecosystem as an integrated solution for multi-location brands
The central premise of The SoLoMo Manifesto is what we term the Location-Based Engagement (LBE) Stack. This is a cutaway view of the SoLoMo ecosystem. The layers are as follows:
1. Location Data-as-a-Service (L-Daas) Platforms
2. Location-Based Engagement Platforms
3. Location-Based Engagement Applications
4. Distribution & Awareness
5. Point of Sale (POS) Data
In the following, I’d like to expand on how the LBE Stack functions holistically. To be clear, the goal of this is the very top of the pyramid: driving sales, revenue, and profits. This is the ultimate measure of success. With that in mind, we can work our way through the stack in an effort to ring that register and realize value.
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