Last week we announced a new funding round that included participation by some high profile names inventure capital. It is always nice when people look at your baby, see that it is something special and want to fund its growth. But what is it that makes Gravy unique? Why were so many investors lining up recently that our funding round was oversubscribed? Some changes in 2016 transformed our product and significantly added to the value we provide to marketers.
We Used to Bring Analytics, Now We Deliver the Data Too
As you know, Gravy built a mobile data analytics platform that offers unequaled accuracy in location verification and matches that against the largest collection of daily events in the U.S. Our verification process (including polygonal location mapping and associated data processing) ensures we know where people go – or more specifically where the anonymized devices go. Our event collection and management system enables us to know what people do when they are there. This is the technical backdrop behind our AdmitOneTM verified attendance solution. The result is accurate location and robust information on the interests, intents and passions of consumers.
Before 2016, large consumer brands and media companies would bring us their mobile app user data and we would overlay our location and attendance information to create audiences with specific behavioral and activity graph characteristics. We can still do that today. However, we made a change last year that is having a big impact. Gravy now brings data and insight to the table right up front.
Adding Scale to Audience Insight
Gravy TruLifeTM Audiences are now comprised of over 240 million mobile devices. We monitor over fifteen billion location signals and match them to over one million local events each day. This means we can immediately tell companies:
- The behavioral and activity graph composition of their user set
- How they can reach new consumers with similar characteristics
- How their customers compare to their competitors
- How they can target or retarget consumers based on event or venue attendance
We recognize that there are a lot of companies that take geo-location signals and map them against real world locations. Our new investors were acutely aware of the many potential competitors. They also recognized Gravy’s unique attributes. Other providers of mobile consumer data only offer a few million devices in a panel and they only have location data. They don’t have insight into activities and event attendance for hundreds of millions of consumers. Gravy provides both scale and activity attendance insight. The result is more robust audience segmentation that you can use to learn more about your current customers or reach out to attract new ones.
New Advertising Products
In addition to the new consumer insights we provide to marketers, we now also offer them targeted advertising reach. Gravy has loaded our audience data sets onto partner platforms such as The Trade Desk, MediaMath, Lotame, Neustar, Oracle BlueKai and several others. There are more to come. The leading DMPs and DSPs want to have unique consumer targeting data for advertisers and Gravy TruLife Audiences fill that need.
So what are the audiences? We will be announcing several in the coming weeks and laying out how they are unique and valuable to a variety of advertisers. Some include in-market home, mattress and auto buyers. Others are focused on music and sports fans. Still others include consumer interests ranging from wine and fine dining to yoga and running. There are even B2B audiences which previously have been rarer than Big Foot sightings.
You don’t have to know whether these consumers purchased a particular product in the past or what website links they inadvertently clicked. We verify that they have participated in activities and attended events that demonstrate their personal commitment to those interests. Lifestyle, life stage, interest, affinity and behavior all become discernable when you know what people actually do. Gravy has transformed that anonymized data into a tool that advertisers can use to reach their highest value customers and prospects.
Adding Human Context to Digital Personas
At Gravy, we believe that where we go and what we do are the two greatest indicators of who we are. Social media has clouded the understanding of who we are because it often represents a manufactured outward persona. What we do when we aren’t on display on social media is a much better indicator of our authentic selves. That authentic self is what marketers need to understand. When marketer know what people are like in their daily lives, they can better target those consumers that are best suited to their products and services.
This is why the new funding was announced last week. Advertisers are recognizing that location data when overlaid with event participation data provides the most robust and accurate depiction of a consumer’s interest, intent and affinity. Gravy is helping them understand these consumer audiences better and reach them directly through targeting advertising. I look forward to sharing more insights in 2017.