Sectors

Gas Stations Use Data To Pump Up Sales

04th Jan `14, 04:33 PM in Sectors

Most companies only think they know the value of the data they have. One recently got a market…

BDMS
Guest Contributor
 

Most companies only think they know the value of the data they have. One recently got a market price for it.

iSIGN Media Corp., a Canadian company that markets mobile advertising services, in December sold 2.5 million “data insights” for $500,000. That works out to 20 cents per “insight” — a record of a cellphone that received a message and acted on it — said Alex Romanov, iSIGN’s president and CEO.

iSIGN uses smart antennas to transmit to Bluetooth devices within 30 to 300 feet of specific locations. The purchaser is an Indian company with ties to the Tata conglomerate.

Romanov said that the purchase involved data from 250 gas stations in Ohio and Indiana. These stations use iSIGN’s antennas to broadcast advertising to cellphones of drivers who’ve pulled into the station. Romanov said the typical advertising message involved offering 10 cents off per gallon of gas.

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