Location Sciences Group PLC ("Location Sciences" or the "Company")
Partnership with SITO Mobile Ltd. ("SITO") and launch of Verify Supply Platform
SITO is the first location data company to commit to independent location data verification through Location Sciences' Verify platform
Location Sciences Group PLC, (AIM: LSAI), the pre-eminent global location verification provider to the $106 billion digital advertising industry, announces its partnership with SITO Mobile, Ltd. (NASDAQ: SITO).
Through the partnership, SITO will leverage Verify, Location Sciences' proprietary location verification platform, to provide independent, media-agnostic analysis and authentication of its location-targeted advertising data. This independent integration is core to SITO's commitment to providing marketers with the accurate, verified data required to drive its customers' mobile ad success. Location data accuracy and quality is an ongoing problem in the online marketing industry, with reports of as much as 50-80% of location data used for proximity and audience advertising being either inaccurate, of low quality or fraudulent.
During the first phase of the partnership, Location Sciences will audit SITO's location data supply as part of an ongoing initiative to provide the specialist with insights and forensics on its supply sources. In addition, SITO will include Location Sciences' Verify tag on all of its location-targeted media delivery campaigns for its clients. This integration will not only provide SITO with the means to maintain supply integrity, but it will provide assurance to its clients that a third-party is certifying the accuracy and quality of its inventory.
"With more than 42 per cent of mobile ad spend going toward location data, and as much as 80 per cent of location data being inaccurate or fraudulent, there is understandably a lot of brand skepticism in the marketplace," said Bruce Rogers, Head of Marketing at SITO. "Our first priority is to ensure that our brands know that our data is accurate, which is why we are excited to be the first to have our data 'Verify Certified' for our clients. It is a necessary component to have in today's data purchasing marketplace."
Verify is a tag-based solution that does not require the use of data matching or personally identifiable information (PII). Ad campaigns are analysed at the impression level - detecting and reporting the accuracy and quality of the data signals used in the campaign.
"We are excited that SITO Mobile has made this important move," said Mark Slade, CEO of Location Sciences. "Having a top-tier location data provider like SITO utilise a third-party verification platform is the only way to bring transparency and trust to the industry. Each day, brands and agencies are wasting millions of dollars on subpar data that negatively impacts marketing strategies and outcomes. Like us, SITO Mobile is committed to bringing transparency to the location data marketplace and helping brands feel secure that their money is being spent responsibly."
This partnership also sees Location Sciences launch its pre-bid location supply product - "Verify Supply" - to market. This provides marketers with the ability to purchase pre-certified location inventory and further ensure purchase integrity. The platform itself is powered by more than a dozen machine learning algorithms helping demand supply platforms and mobile specialists to detect fraudulent signals and app publishers with questionable data. With this extra layer of filters and third-party verification, media inventory suppliers can remove the bad actors before a bid is made.
Commenting on the launch of Verify Supply, Mark Slade said: "This is a natural extension to our existing verification products, providing an independent hallmark of quality to media inventory suppliers with the objective of bringing trust back into the industry. It's great to be working with such a transparent location specialist and it's no surprise that the companies that back independent verification tend to be the best in market."
For further information please contact:
Location Sciences Group PLC via Milk and Honey PR
Mark Slade, Chief Executive Officer
David Rae, Chief Financial Officer
Stockdale Securities Limited Tel: +44 (0)20 7601 6100
Milk & Honey PR Tel: +44 (0)20 3637 7310
About Location Sciences Group PLC:
Location Sciences is the pre-eminent global location verification provider to the $106 billion digital advertising industry. Working in partnership with brands, media agencies and suppliers to reduce ad-wastage and improve the effectiveness of location-based advertising campaigns.
The digital advertising market place remains unregulated and un-monitored, with an estimated $19 billion wasted on ad-fraud in 2018. Location Sciences has developed Verify, the world's first independent location verification product. Utilizing sophisticated machine learning and pattern recognition technologies Verify detects location ad-fraud and shines a light on location data inaccuracy with the aim of bringing back integrity, transparency and trust to the market place.
About SITO Mobile, Ltd.
SITO is a leading mobile data technology company that provides brands customized, data-driven solutions spanning strategic insights and media campaign delivery services. Through Consumer Behavior and Location Sciences™, SITO explores the consumer journey and presents powerful strategic knowledge assets and actionable insights for executives and strategic decision makers looking to understand and influence consumer behaviors. Brands and agencies rely on SITO as a strategic partner for real-time understandings of customer behaviors, interests, actions, and associations, providing increased clarity for better business decisions. The Company is headquartered in Jersey City, New Jersey and its common stock is publicly traded on the NASDAQ Stock Market under the ticker symbol "SITO." For more information regarding SITO's science, technology and solutions spanning media and research, please visit www.sitomobile.com.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.