For several years, Nextdoor and Foursquare - a data platform that provides a way for advertisers to measure the effectiveness of their advertising - have been working together to better understand consumer behavior across verticals, including QSR, Retail, CPG, Food & Beverage, Telco and more.
Through Q1 2022, Nextdoor outperformed Foursquare benchmarks across categories in measuring advertising impact on consumers’ real-world visitation.
Across all verticals, Nextdoor advertisers saw a 25% lower median cost-per-visit than the Foursquare benchmark. More specifically, for the following categories:
For QSR brands in particular, by leveraging Nextdoor and Foursquare Audiences and Attribution, QSR brands can better understand where opportunity markets are and more accurately address & measure the nuances of those consumers in regional markets. For example, location data has revealed that rising gas prices are likely driving more Americans to eat fast food in 2022.
Additionally, over 80% of QSR locations are locally owned franchises. This number is expected to grow 2.1% in 2022. Most fast food chains align their advertising to local initiatives, and local QSR ad spend is projected to reach $5.8B by 2024, growing 35% from 2021.
Read more about QSR insights from Foursquare here.
Read more from Foursquare: Measuring advertising impact on consumer behavior with Foursquare and Nextdoor.
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