Street Fight Magazine – Heard on the Street, Episode 34: ‘Drive-to-Store’ Marketing, with Teemo
Benoit Grouchko discusses location intelligence, VC funding and more with Mike Boland of Street Fight Mag. Heard on the Street is a series by Street Fight Magazine.
Mike Boland talks with Benoit Grouchko about the meaning of location intelligence, the value of store visits, and the company’s journey to getting VC funding.
Location intelligence has become an important but crowded sub-sector of local media and commerce. When it comes to value for retail brands, marketing tactics are all about driving (and measuring) foot traffic. This is where Paris-based location marketing and analytics company Teemo continues to innovate.
The journey from concept to funding to working with global brands has been a learning experience for Teemo and its founders. CEO Benoit Grouchko discusses this journey with Mike Boland of Heard on the Street, a podcast from Streetfight Mag. During the conversation, Benoit explains the value of location intelligence for all companies with a physical footprint. Having location data is just part of the story, though. True location intelligence is about using that data with performance in mind.
Read More:
Heard on the Street, Episode 34: ‘Drive-to-Store’ Marketing, with Teemo by Mike Boland
DMN – One on One: Benoit Grouchko on Learning to Live With GDPR
CEO Benoit Grouchko has a one-on-one sitdown with DMNews to discuss the impact of GDPR on Teemo and how the company bounced back.
Kim Davis of DMNews took the time to interview Benoit Grouchko about a few key topics. Among them, the pair discussed how Teemo bounced back from regulatory infractions related to GDPR.
It’s business caught the attention of regulators soon after GDPR became law on May 25, 2018. It was « a rough few months, » as co-founder and CEO Benoit Grouchko says in this candid conversation with Kim Davis.
Despite dealing with a huge workload of adjustments, Teemo bounced back after dealing with newly minted GDPR regulations. The regulatory infractions that stemmed from this instance were a blessing in disguise for Teemo. The company has taken the opportunity to set the tone for other ad tech companies regarding privacy and data protection. These days, Teemo is now fully GDPR complaint.
Read More:
One on One: Benoit Grouchko on Learning to Live With GDPR by Kim Davis
Forbes – IAB Europe Is Updating Its EU Privacy Guidelines, But Skeptics Say It's Not Enough
The IAB is updating its privacy guidelines, illustrating a growing trend in the industry for greater transparency and consumer protections.
Marty Swant of Forbes recently reported on the new IAB guidelines. Our CEO Benoit Grouchko has since responded to the announcement. Benoit discusses user trust and long-term thinking on the subject.
Benoit Grouchko, the CEO of Teemo—the first company to face and ultimately avoid a potential GDPR fine before becoming the first to achieve GDPR compliance—said the second version of TCF is “definitely going in the right direction.” Grouchko, whose company specializes in location and other types of data to help retailers personalize ads, said the legal basis for how publishers and vendors can collect data is now clearer than before.
“If you think long term, we need users’ trust to have sustainability,” he said. “I’m talking on behalf of the whole advertising system here—users need to be aware of what’s going on and comfortable with what’s going on because in the end they are the ones that are seeing the ads and that are at the core of everything.”
The IAB made use of their resources to help draft these new guidelines. Publishers, agencies, and tech companies worked together on the new EU Privacy Guidelines. Therefore, the participating parties could find some common ground. Likewise, Teemo has been implementing many of the themes seen in the new guidelines. From our CEO to our employees, Teemo takes a cautious, respectful approach to data sharing and transparency. Thus, we intend to build trust with consumers and set the tone for other organizations. The IAB is taking one step towards owning the process. But, companies including Teemo are taking it one step further.
Read More:
IAB Europe Is Updating Its EU Privacy Guidelines, But Skeptics Say It’s Not Enough by Marty Swant
Cheddar – Regulation 'Critical In Making Users Trust the Digital Economy' Says Teemo CEO
Teemo CEO Benoit Grouchko spoke to Cheddar about privacy, location data, and regulations in the EU and US.
When Paris-based Teemo became the first company busted under the European Union’s Global Data Protection Regulation, it seemed to get the message. Just two months later, the data location company became the first to meet those Euro guidelines on protection users’ personal data. Now, almost a year later, Teemo’s CEO is offering U.S. companies tips on privacy regulation.
[…]
The company specializes in location. « Location is what lets us build a bridge between the digital world, on one hand, and the physical world, on the other hand, » said the CEO.
According to the CEO, before the company failed GDPR, it was already operating under a strict framework. That’s why it was such a surprise when French regulators sent Teemo a letter, notifying them that they were not compliant.
So the compliance process began.
« Because of the nature of location data, the authority decided to define a new framework, » said Grouchko. « So immediately we thought, ‘Ok, what is this new framework and how do we make it work?' »
« We worked with a regulator to define the new rules, » said the CEO.
Looking Forward
After two months Teemo was fully compliant in Europe. And that compliance prepared the company for other regulations in other countries. Teemo is ready for new compliance regulation in the US. The Teemo team learned their lesson the hard way in Europe. Europe set out a strict set of privacy guidelines, but the US has similar regulations in the works. Politicans are in the process of drafting and proposing new laws with restrictions similar to those of GDPR. Having prior experience with these types of regulations gives Teemo an advantage. Other companies may be working through upcoming laws for the first time. Teemo has already met and exceeded a strict standard for data privacy.
Read More:
Regulation ‘Critical In Making Users Trust the Digital Economy’ Says Teemo CEO by Taylor Garre
AdAge – Teemo CEO Benoit Grouchko Discusses Prepping for US Privacy Regulations
As the first GDPR compliant company, we’re now setting our sights on US privacy laws.
Teemo became the first company to meet GDPR compliance. It has since expanded its operations to the U.S., where regulation is imminent. California’s Consumer Privacy Act, for instance, goes into effect on January 1, and affects any company that does business in the Golden State. Meanwhile, lawmakers from both sides of the aisle are also in agreement that something must be done in regards to consumer-data privacy.
Although U.S. regulation is looming, many companies aren’t sure where to start. “With GDPR, companies had two years to get ahead of it, but they left it to the last minute,” Grouchko says. “They weren’t shortsighted and I don’t think anyone is to blame.”
Benoit Grouchko encourages all companies to approach their processes with a privacy-driven mindset. Whenever you start creating a product, you should consider how you’re using data. And you should be aware of the privacy and protections you’re putting on that data. Even though Teemo gets location data from third-party apps, the company requires users to provide consent. The solution to the privacy problem was simple. Regarding data sharing: make opting out as easy as opting in.
Another important point that Benoit stresses is this: only collect and keep the data you need. US companies have tons of data, most of which they don’t use. If you’re not using data, get rid of it in a secure way. Keeping data that you’re not using is a risk that isn’t worth taking.
Read More:
First Company to Fail GDPR Compliance Shares Tips on Prepping for Us Privacy Regs by George P. Slefos
Yahoo Finance – Teemo Adds Award-Winning Digital Marketer Eric Hadley as Advisor
Award winning marketing expert, Eric Hadley, of iHeartMedia, and formerly of Outbrain, joins Teemo as an advisor.
« We’re delighted to add an award-winning marketing innovator like Eric as an Advisor. His deep expertise driving digital marketing success across a broad range of brand and consumer marketing organizations — from startups to large companies — will be invaluable as we continue to help brands drive brick-and-mortar traffic through location-based advertising, » said Benoit Grouchko, CEO and co-founder, Teemo. « Eric is a creative, fearless and innovative thinker, and we’re excited to incorporate his contributions and recommendations into our marketing and sales strategies moving forward. »
[…]
« I’ve had the great fortune to work at many of today’s most innovative and disruptive companies, and learned how to balance the art and science of marketing by using data to quantify big ideas and drive critical marketing metrics, » said Hadley.
What It Means for Teemo
Eric Hadley has a career spanning multiple marketing roles. He has worked in consumer & brand marketing. Hadley has experience in sales management and trade marketing too. Currently, Hadley is the Senior Vice President of Marketing at iHeartMedia. He has industry experience in the location space, with a previous position at GroundTruth. And he has also held roles at Outbrain, The Weather Channel, and Microsoft. He is also a winner of the American Advertising Federation Hall of Achievement award. And he has won the Ad Age Media Maven award.
Adding Eric Hadley as an advisor brings a wealth of opportunity to Teemo. Because of this addition, Teemo now positions itself as an industry leader in the marketing world. As an advisor to the company, Eric will work closely with the C-Level staff at Teemo to advise on business decisions and market positioning. The executives at Teemo are excited to further their relationships with the new advisor.
WSJ – GDPR Has Been a Boon for Google and Facebook
Risk-averse companies are looking to big tech for reassurance because of GDPR and privacy concerns.
The General Data Protection Regulation, or GDPR, which went into effect across the European Union last year, has pushed marketers to spend more of their ad dollars with the biggest players, in particular Alphabet Inc.’s Google and Facebook Inc., ad-tech companies and media buyers say.
[…]
Paris-based Teemo, which uses location data to help marketers target their ads, was one of the first companies to be rebuked under the GDPR. France’s privacy regulator ordered the company to stop processing individuals’ location data without their informed consent. The company has been rebuilding its business to be compliant with GDPR. While it is growing, revenue from its data business isn’t expected to reach its pre-GDPR level until this summer, says CEO Benoit Grouchko.
« If you work with a small data company, it’s not as reassuring, » Mr. Grouchko says. « With Google and Facebook you know you’re not taking a risk as an advertiser. »
There are still a lot of questions around GDPR. Regulators have an opportunity to interpret the law how they see fit. Many companies are waiting to see how regulators will handle the new laws. Questions around consent and privacy are already brewing. Because of all these uncertainties, companies must be cautious. Taking an approach that leans towards better protection will ultimately be the best option.
Read More:
GDPR Has Been a Boon for Google and Facebook by Nick Kostov and Sam Schechner
AdWeek – As CCPA’s Deadline Looms, Tech and Media Brace for Another GDPR
The California Consumer Privacy Act (CCPA) is coming soon, which means companies doing business in the US have to be prepared.
Benoit Grouchko, CEO of France-based location data vendor Teemo—a company that had an early brush with its DPA after GDPR enforcement—explained that U.S. publishers are beginning to address their supply partners as a result of such legislation. While the two sets of laws may differ in detail, a consistent approach on either side of the Atlantic is, in his opinion, the best practice. “In GDPR, there is a notion of co-responsibility when it comes to contracts,” Grouchko said.
Many interpret the legislation to mean that all data collectors (such as publishers) share liability with their subsequent data processors (such as ad-tech providers). “We have to make sure that our partners collect data the right way … so, in the U.S., we are doing the same to make sure that anyone we work with is sending data to us in the right way,” he said.
GDPR has been disruptive to the media and tech industries. Over the past year many companies are coming under scrutiny. The way companies collect and use data is a matter of concern. GDPR was the first significant legal action to address privacy and data concerns. But, the US is starting to implement its own laws. CCPA is one such law that is looming. As California modifies and pushes the law through, companies must be prepared for the implications.
Read More:
As CCPA’s Deadline Looms, Tech and Media Brace for Another GDPR by Ronan Shields and Kelsey Sutton
MarTech Today – Data location vendor worked with GDPR regulator on data consent model, yielding 70% opt-in rates
With GDPR laws looming, Teemo discusses the success of opt-in forms for data consent.
Getting consent to third-party use of location data. Roughly translated, the notice above says that the app being used is free because it is supported by advertising. It goes on to state that ads can be personalized and nearby offers made available from third party partners and advertisers through the smartphone owner’s consent to the use of location and the device ID. It reassures users they can later withdraw consent if desired.
The key element here is specific notice that user location data is being shared with third parties. There’s also a prominent link to a list of those third party companies (partenaires géomarketing). There’s another link that spells out what user rights are (exercer vos droits).
Opt-in rates approaching 80 percent. Teemo’s Grouchko said that the company has seen a very strong response to this language so far. “We see opt-in rates that can go as high as 80 percent when we’re transparent about data sharing with third parties,” he said. “We were positively surprised by the numbers.”
[…]
“When the user experience is better we see more than 70 percent opt-in rates and not less than 50 percent.”
Considering the end-user, Benoit Grouchko has a theory. When companies are transparent, users feel like they are in control. Most users care more about transparency than anything else. Context is also important in any matter of data, privacy, and consent. Trying to work around the law is not a best practice. Instead, being transparent, accountable, and honest is a great idea. Doing so will increase opt-in rates. And, it will position your company in a good place regarding compliance.
Read More:
Data location vendor worked with GDPR regulator on data consent model, yielding 70% opt-in rate by Greg Sterling
PYMNTS – JOANN Taps Into Mobile Location-Based Advertising
JOANN leverages Teemo for mobile, location-based advertising to drive in-store visits. Consumers are using mobile more than ever. Thus, Teemo is able to cater to that.
In an effort to tap into incremental revenue and store visits, fabric and craft retailer JOANN Stores is teaming up with mobile location platform Teemo. The retailer is using the latter company’s location-based advertising system, Teemo said in a press release.
[…]
The news comes as the retailer has shortened the name of its brick-and-mortar stores to help extend its brand beyond fabrics. The locations, which were previously called Jo-Ann Fabrics, are now known as JOANN, Miller told AdWeek in July. “We have a big opportunity to let people know that ‘Hey, we sell everything that the other craft stores sell.”
The retail industry is moving towards a mobile-first mindset. Because of this, JOANN Stores was looking for a solution in line with the trend. The company tested multiple solutions, but Teemo was the best, according to Steve Miller a senior VP there. Thus, JOANN moved out of the test phase and saw immediate results. Stores saw more foot traffic and a positive effect on the bottom line.
Read More:
