One day, two product managers for a leading global consumer brand at a Fortune 500 company realized that, although considerable in volume and scope, the consumer data they collected and analyzed lacked information they needed to really understand their customers and other segments marketers wanted to target. That simple realization and a desire to find a way to collect the missing information led to the creation of Mogean, which helps marketers take the guesswork out of who to target with what marketing message when in today’s mobile communication world.
These two co-workers, Nate Halsey and Reid Malsby—both engineers by trade—had 30 years of experience between them in building systems and working with large data sets. They dubbed the information deduced from historical data “inference marketing.” Even with heretofore state-of-the-art marketing and analytics practices, consumer insights were based on old information and a lot of educated guesswork—guesses about who consumers are, where they go, what they do and what they really want.
Even more troubling, this woefully incomplete data was serving as the less-than-firm foundation for marketing investments that were growing in size. Recent research from Zenith Optimedia forecasts that advertising spending will increase by 4.5% in 2017 and continue its upward climb into 2018 as companies seek to grab larger share of wallet from their competitors . They also expect mobile advertising spend to grow 48 percent this year, and that it will account for 60 percent of Internet advertising by 2018.
With so much marketing money at stake and mobile technologies proliferating, Mogean offers a solution that marketers need. They could do so much more if they could see what their customers are doing in near real time and understand their patterns of life. Businesses could tailor offerings to customers rather than risk being perceived as spamming and consequently aggravating customers with useless messages.
Mogean’s platform offers a transformative capability with the potential to turn how marketers design and target their messaging right side up.
Based on an initial inkling and entrepreneurial spirit, Nate and Reid joined the ranks of the startup world. Like many innovators, the initial iteration of their innovation fell short. It required too much effort from businesses and their mobile customers.
But they failed fast and committed the lessons from that experience to create Mogean, combining Mobile Geospatial Temporal Analytics on a passive customer insights technology platform. It taps into the Internet of Everything, capturing location data that customers gladly share to enable companies to design offers that please. And, it does so without draining the battery life of mobile devices.
Mogean’s patent-pending technology collects geospatial data from mobile devices while using less than 1 percent of a device’s battery life to provide relevant, current location information. And, consistent with Mogean’s core belief that technology should be invisible and unobtrusive the company's platform requires no ongoing input or effort from consumers.
Developed with a team of the brightest Georgia Tech data scientists, the R&D required nearly a year to build a data science engine capable of algorithmically identifying demographic and psychographic segments. These segments create 'patterns of life' that help companies truly understand their customers and what is important to them. A team effort, Reid led the product development while Nate refined Mogean’s commercial approach.
But today’s technology represents only the first chapter for Mogean. At the direction of the company’s founders, Mogean continues to identify and develop solutions that improve the data creation process for a new, data-rich future.
The initial phase of predictive analytics is being prototyped with an expected launch in Mogean 2.0.
The company’s leadership and team remain excited and committed to working with clients to facilitate their use of advanced data science as a mechanism to help them better understand and reach their customers. And Mogean’s executives still ask CEOs and CMOs about the query Reid and Nate pondered back in their early meetings: “If you could see all of your customers right now—what are they doing, what are their patterns of life—what decisions would you make to build better engagement and drive your growth if you had the answers?" Only now, what was a theoretical possibility is now a reality.