Logiq Introduces Geofencing, Enabling Marketers to Customize Messaging Based Upon Context of Consumer Location

Rhea-AI Summary

Logiq, a global provider of e-commerce and fintech solutions, has expanded its Logiq Digital Marketing™ platform to include geofencing-based targeting. This innovation allows marketers to precisely deliver customized messages to consumers based on their real-time location, enhancing marketing efficiency. As consumer data privacy regulations tighten, Logiq's geofencing approach utilizes anonymous location data, addressing privacy concerns. The global geofencing services market is projected to grow at a 27% CAGR, reaching over $2.3 billion by 2023. The new geofencing capabilities are available immediately for users of the platform.

Positive

• Introduction of geofencing-based targeting enhances personalization in marketing.
• Addresses consumer privacy concerns by using anonymous location data.
• Global geofencing market projected to reach $2.3 billion by 2023, indicating strong growth potential.

Negative

• None.

NEW YORK, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Logiq, Inc. (NEO: LGIQ) (OTCQX: LGIQ), a global provider of award-winning e-commerce and fintech solutions, has expanded its Logiq Digital Marketing™ (LDM) platform to include geofencing-based targeting.

Unlike traditional geotargeting that restricts digital ads to audiences in a particular zip code, city, state or country, geofencing is a custom defined area that can outline the boundaries around a particular store, mall, or other physical venue. The technology enables geofencing by using the latitude and longitude coordinates of a consumer digital device, such as a connected TV, smartphone, tablet or PC, to determine their location.

This solution gives marketers significantly greater precision and personalization in the message they deliver to consumers based upon the context derived from visiting a geofenced region. Marketers can deliver a customized message to such consumers in real time, whereas many traditional solutions require marketers to wait a week or more for a newly defined segment to be populated with consumer data. LDM also enables marketers to target consumers who have been in a particular location up to 30 days in the past.

Geofencing has become an important alternative targeting technique given the increasing restrictions placed on marketers using third party cookies, mobile advertising IDs and other forms of personally identifiable information (PII). LDM geofencing uses anonymous data supplied from GPS, RFID, WiFi and cellular protocols, thereby avoiding the use of PII. This allows marketers to deliver a relevant contextual advertising message when a consumer enters a geofenced area without infringing on their privacy.

“Gaining access to more precise, real time geofencing capabilities has become increasingly critical to our clients,” stated LDM president, Manny Puentes. “Context is extremely valuable when delivering a personalized marketing message to consumers. A consumer visiting a physical store location can be as much of a contextual signal as the content they’re viewing on their digital device. Marketers who have all this information at their fingertips while architecting their campaign strategy will come out far ahead.”

The market size for global geofencing services is estimated to be growing at a 27% CAGR, to reach more than US$2.3 billion by 2023.

The new LDM geofencing capability is available today for Logiq Digital Marketing users. Contact a Logiq representative here to learn more.

About Logiq

Logiq Inc. is a U.S.-based leading global provider of e-commerce and fintech business enablement solutions. Its DataLogiq business provides a data-driven, end-to-end e-commerce marketing solution. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s Fixel technology offers simplified online marketing with critical privacy features.

In its AppLogiq business, Logiq’s platform-as-a-service, branded as CreateApp™, enables small- and medium-sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. CreateApp™ empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. CreateApp™ is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia. The company’s PayLogiq, branded as AtozPay™ in Indonesia, offers mobile payments, and GoLogiq, branded as AtozGo™ in Indonesia, offers hyper-local food delivery services. Connect with Logiq: Website | LinkedIn | Twitter | Facebook.

Important Cautions Regarding Forward-Looking Statements

This press release contains certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This press release also contains forward‐looking statements and forward‐looking information within the meaning of Canadian securities legislation that relate to Logiq’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward‐looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward‐looking statements. No assurance can be given that these expectations will prove to be correct and such forward‐looking statements included in this press release should not be unduly relied upon.

These statements speak only as of the date of this press release. Forward‐looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Logiq’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. In particular and without limitation, this press release contains forward‐looking statements regarding our products and services, the use and/or ongoing demand for our products and services, expectations regarding our revenue and the revenue generation potential of our products and services, our partnerships and strategic alliances, the impact of global pandemics (including COVID-19) on the demand for our products and services, industry trends, overall market growth rates, our growth strategies, the continued growth of the addressable markets for our products and solutions, our business plans and strategies, our competitive position in our industry, and other risks described in the Company’s prior press releases and in its filings with the Securities and Exchange Commission (SEC) including its Annual Report on Form 10-K and any subsequent public filings, and filings made pursuant to Canadian securities legislation that are available on www.sedar.com, including under the heading "Risk Factors" in the Company's Canadian Prospectus.

Logiq undertakes no obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Logiq to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward‐looking statement. Any forward‐looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement.

Company Contact
Brent Suen, President
Logiq, Inc.
Email contact

Media & Investor Contact
Ronald Both or Justin Lumley
CMA Investor & Media Relations
Tel (949) 432-7566
Email contact

FAQ

How does Logiq's new geofencing feature improve marketing effectiveness?

Logiq's geofencing feature allows marketers to deliver customized messages in real-time based on consumers' locations, improving marketing precision and context.

What is the growth rate of the global geofencing market?

The global geofencing services market is estimated to grow at a 27% CAGR, reaching over $2.3 billion by 2023.

What data privacy measures does Logiq's geofencing solution utilize?

Logiq's geofencing technology uses anonymous data from GPS, RFID, WiFi, and cellular protocols, avoiding personally identifiable information.

When is the new geofencing capability available for Logiq Digital Marketing users?

The new geofencing capability is available immediately for Logiq Digital Marketing users.

What problem does geofencing solve in digital marketing?

Geofencing provides marketers with greater targeting precision, allowing them to reach consumers based on their physical presence in a location without relying on third-party cookies.