Is location data the future of marketing?

Posted: 2018-02-01 22:41:43

According to a new study by Verve, 73% of people are happy for apps to access their location data. This access to consumer behaviour opens up exciting opportunities for brands in relation to advertising. However, research by Forrestershows that 94% of advertisers struggle to use location data, claiming they don't know how to get the best out of it.

Here are three ways location data can be used to raise brand awareness.

1. Make the most of events: Local events are a great way to engage audiences and boost conversions. An example of this was when a taxi company used location data to discover who was at Pride in London, targeted them on Twitter, and offered discounts on travel to and from the event. This boosted engagement resulting in more impressions and app installations - and the lowest cost per impression. By producing personalised, highly targeted ads that tie in with local events, you can identify people at the point they need your product or service.

2. Establish long-term patterns: Location technology doesn't just mean targeting people at a specific moment in time. Marketers are now able to track and respond to ongoing patterns of behaviour, gaining insights to inform long-term strategies. Using historical location data, marketers can establish patterns of behaviour allowing ads to be perfectly targeted. Live location data also allows real-time targeting through limited-time discounts at specific locations. Long-standing profile building helps you achieve more effective targeting.

3. Be mindful of your data use: Concerns about data security can sway consumers away from sharing location data. Equally, many of us uninstall apps if we receive too many badly targeted ads. To avoid this, be clear about the sourcing and validation of your data, blending it with other data sources to ensure accurate audience identification and targeting.

As consumers become increasingly devoted to their mobile devices, it is important that brands do not deter potential customers with irrelevant, thoughtless mobile advertising. Smart use of location data can ensure your brand doesn't put a foot wrong.

Location-based tactics are going to be big news this year, so if you have the skills and experience in this field, sign up for our job alerts today and find your perfect role.

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