Verve’s Acquisition Of Fosbury Puts Marketers In The Mobile Wallet

June 9, 2015 — GeoMarketing Less than two months after Nada Stirratt took over as Verve Mobile’s CEO, the location ad platform has acquired Fosbury, which has become a major player in the indoor marketing space.

Stirratt’s first acquisition hints at the subtle changes in direction she wants to take the decade-old company, whose roots began as a mobile ad network.

As she concentrates more heavily on serving smartphone ads designed to increase shops’ and brands’ offline retail business with closer ties to agencies as well as publishers, the purchase of Fosbury helps broaden the company’s position by giving Verve greater control over consumer engagement programs while people are in-store and at the checkout counter.

Making Mobile Pay… And Pay

The strategy is an expansion of the one pursued at Verve under Tom MacIssac and James Smith, the New York-based company’s former CEO and CRO, respectively. Over the past year, Verve has worked to tap into the rise of beacons and the use of mobile pay via ads made for Apple Passbook — soon to be called “Apple Wallet” — and through partnerships with the likes of beacon maker Gimbal.

Although some location ad industry observers believe that the best, most scalable use of geo-data based advertising lie in attempts to trace consumers place patterns over time to build better audience segments. The idea is that there is simply not enough scale to target ads at consumers as they’ve already made their decision of what and where to shop.

But Verve cites the expectation that beacons and proximity-based advertising will drive $44.4 billion in U.S. in-store retail sales next year, according to BI Intelligence’s often-reported estimates And since location-based mobile campaigns are the center of the online-to-offline marketing space, Verve is well-placed to take advantage of the growing interest in this area of programmatic advertising. Furthermore, having the data that comes from regular consumers’ visitation rates — which can be measured, in part, by beacons — and the (anonymous) spending info from mobile payments processed by Fosbury’s software.

Fosbury’s clients include brands such as American Express and Chobani, which also should help Verve boost revenues as it’s likely to make further changes in its sales structure under its new CEO.

The Changing Face of Mobile Commerce: ShopSavvy, RetailMeNot & Verve

June 9, 2015 — MediaPost In and around mobile commerce, some things stay the same but things around those things tend to evolve and expand.

Three recent but totally unrelated mobile program modifications caught my eye over the last few days.

First, ShopSavvy, one of my favorite apps for in-store price checking since its launch several years ago, evolved its app to cater to shoppers. The app started aggregating all sales from more than 500,000 retailers and created more than 3,000 navigational product categories.

I now receive push notifications from ShopSavvy highlighting nearby sales. The app gives the option of not being notified, though not sure which mobile shoppers won’t want to be notified of nearby sales.

The app started as a price checking utility, which it still does, but evolved to identifying deals and sales.

A second example is RetailMeNot, a location-based deals app I’ve been using since forever ago.

The Austin-based company just introduced a new products section featuring curated products available at merchants with mobile-optimized websites. A product click brings the shopper to a page for completing a purchase and handling shipping details.

While starting as an app to provide location-based coupons, which it still does, RetailMeNot evolved so that manufacturers of products that sell items through other retailers can advertise directly to targeted mobile shoppers through the RetailMeNot app.

A third example this week is the acquisition by Verve Mobile of beacon software company Fosbury.

“We’re good at driving people to the store and we’re seeing beacons as an extension,” Tom Kenney, co-founder and president of Verve Mobile, told me yesterday.

Verve manages 4 billion ad impressions a day and the beacon capability addition will allow the company to extend the location-ad targeting into the store, based on product proximity, Kenney said.

While starting as an ad serving platform and working with thousands of advertisers, Verve is expanding from driving people to the store, which it will continue to do, to driving consumers in stores to the cash register.

While not related, ShopSavvy, RetailMeNot and Verve are good examples of how mobile commerce is evolving, while still staying the same.

Mobile wallets, smart coupons, and iBeacons: Verve Mobile acquires Fosbury

June 9, 2015 — VentureBeat Location, location, location. No, it’s not the old adage of real estate — it’s the new “last mile” of advertising. While e-commerce and m-commerce are growing fast, old-fashioned bricks-and-mortar purchasing is still 93 percent of all retail sales. Which means that brands and companies who want to address the bulk of consumer spending still need to think hard about local.

Mobile advertising platform Verve Mobile, which bills itself as a “location-based mobile platform,” announced this morning that it has purchased beacon technology platform Fosbury to, it says, further link mobile marketing to offline retail performance.

“Fosbury’s Apple Passbook, Google and Samsung wallet capabilities augment the success and scale of retailers’ marketing and loyalty programs by allowing businesses to advertise their presence to nearby smartphones,” Verve president Tom Kenney said via email. “The Fosbury acquisition allows Verve to integrate Passbook and Wallet functionality as one of our key secondary actions into all of our mobile advertising campaigns, driving more in-store customer engagement and sales.”

In other words, Fosbury isn’t just about beacons.

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Verve Mobile Acquires Beacon Technology Platform Fosbury To Further Link Mobile Marketing to Offline Retail Performance

Integrated solution combines the power of location-based mobile offers with best-in-class beacon technology

NEW YORK, NY – June 9, 2015 – Verve Mobile, the leading location-based mobile marketing platform, today announced the acquisition of Fosbury, an innovator in the beacon and mobile wallet space. For more than a decade, Verve has driven customers into stores with proprietary device location targeting and premium inventory on behalf of some of the biggest brands in the world. The Fosbury acquisition provides marketers with an even greater and more precise ability to both initiate the engagement as well as validate when consumers are in-store and in the purchase mindset.

With beacon-triggered messaging expected to drive $44.4 billion in U.S. in-store retail sales next year, location-based mobile campaigns will be instrumental in how retailers engage consumers and influence sales through relevant messaging. Since 2012, Fosbury has partnered with global brands from American Express to Chobani to drive mobile product innovation and customer experiences.

“What Verve does better than anyone else is engage consumers via their devices and drive them into stores,” said Nada Stirratt, chief executive officer, Verve Mobile, “Fosbury further enhances this ability by maintaining that consumer connection for marketers in a more personalized and meaningful way, with the ultimate goal of driving them to the cash registers. That’s incredibly powerful and available to marketers immediately.”

New Verve CEO: Mobile/Location Combo Will Continue to Increase in Importance

May 1, 2015 — Street Fight Mag In the past two years, mobile ad tech has gone from an immature testing ground to a battlefield with billions of dollars at stake. In this struggle, location data has emerged as one of the most sought after assets in the mobile media mix, fueling the growth of a handful of local-centric mobile marketing startups.

One of the earliest players, Verve Mobile, has reached a turning point in its own evolution. The company parted ways with longtime CEO Tom MacIsaac in April, introducing former Acxiom CRO Nada Stirratt as the new chief executive. Stirratt faces an advertising industry in the throes of a deep transition to programmatic buying, even though mobile media is substantially farther along than its desktop counterpart.

Street Fight caught up with Stirratt to talk about the company’s vision for the future of the industry.

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