Loopd Launches First Bi-directional Proximity Marketing Solution to Track Actual Prospect Engagement at Events and Prove Measurable ROI

San Francisco Start-up Accelerates Growth via Strategic Investment from Silicon Valley Super Angels Tim Draper, Marc Benioff and Xinhui Niu

News provided by

Loopd Inc.

Oct 13, 2014, 12:47 ET

SAN FRANCISCO, Oct. 13, 2014 /PRNewswire/ -- Loopd Inc., the emerging leader in proximity marketing for corporate events, tradeshows and symposiums, today announced the industry's first bi-directional proximity marketing solution. Unlike first-generation mobile event apps or beacon solutions, only Loopd gives marketers the ability to capture, analyze, grade and quantify face-to-face interactions at corporate events in real time. Rich analytics show the depth and quality of relationships and interactions, and provide a foundation for follow-up sales and marketing activities. Finally, Loopd provides actionable insights into the success of marketing programs, and reveals their true ROI.

The company also today announced that it has raised its first million dollars of angel funding led by personal investments from Tim Draper of Draper, Fisher, Jurvetson, Marc Benioff, CEO of Salesforce.com, and Xinhui Niu, co-founder of Vuclip and Timbre Technologies. Loopd was founded at Draper University of Heroes™ in August 2013, where the company's CEO, Brian Friedman, was recognized for his vision of creating a technology solution that bridges the divide between physical and virtual marketing, giving event managers and CMOs the ability to accurately capture leads, measure interactions and effectively analyze the value of corporate events.

"As an investor, I've seen hundreds of companies struggle to measure the true ROI of corporate events and tradeshows," said Tim Draper. "Loopd is taking the mystery out of the efficacy of marketing events and conferences by tracking and measuring interactions between decision makers and company representatives. The company's unique technology approach enables bi-directional information exchanges between companies and event attendees. It allows marketers to not only capture valuable information about customers and leads, but to share content and information directly with people who pass by the exhibit or interact with company representatives at an event—automatically. The solution is a game changer for marketers."

Friedman's idea is built on the ability for marketers to capture information about customers and prospects in real time, measure their level of engagement, the frequency of their visits, and time spent interacting with company representatives. The solution is comprised of bi-directional beacons, embeddable chips that can be worn in event badges, and a mobile app. In addition to tracking interactions, the solution is unique in its ability to automatically exchange content and contact information when a user's badge or other wearable device containing the Loopd chip is nearby. Information can be exchanged chip-to-chip, or via any Loopd Wi-Fi beacon in a company's exhibit. Through the app, attendees can see and share information that is pushed to them, or given to them via a "tap". Attendees can share content and comments via social channels, rate exhibits and sessions from within the app, or communicate with exhibitors or other attendees.

According to Statistica, only 52% of tradeshow attendees participated in meaningful engagement with exhibitors in 2013.¹ This occurred, in spite of the fact that 81% of tradeshow attendees have buying authority.² With Loopd, marketers can track interactions between attendees and company representatives in real time, giving them actionable insights that can help them build pipeline with quality leads. Loopd also accurately measures all exhibit traffic and exhibit hot spots. This information reveals likely buyers, helps marketers plan more effective events, and provides measurable data about event success.

Brian Friedman, CEO of Loopd, commented: "Loopd takes the guesswork out of corporate events. Traditionally, proving ROI at events has been based mostly on conjecture. Attendee interaction is largely based on random booth scans, not actual interactions or visitor characteristics. Loopd removes all of those variables so marketers and their visitors can instantly connect with each other, share information and engage in post-event conversations. The result is more accurate measurement and more fruitful relationships."

About Loopd Inc.
Loopd's mission is to add intelligence to corporate tradeshows, events, conferences and other business gatherings. We help corporate marketers learn how people interact with each other, with the company, and with the company's products. The Loopd proximity marketing solution is the industry's only bi-directional solution that enables the exchange of content and contact information automatically while gathering rich analytics data, so that marketers can accurately measure the ROI of, and optimize, their events. To learn more, visit our website at www.getloopd.com

¹ Statistica, 2014
² Tradeshow News Network, Aug. 2013

SOURCE Loopd Inc.