Do you want to optimize Google Ads campaigns? Are you looking for ways to improve personalization? In this article, you’ll learn how location analytics helps advertisers manage their ad inventory, increase conversions, and identify potential new customers at the store level.
Google’s Location & Shopping product has been around since 2011 but until recently was limited to helping stores understand where their traffic comes from. Now, with location analytics, advertisers can also track their visitors’ paths across different sites to see if they’re buying things on other websites along the way.
The question of how best to position and market a brand in a crowded and complex market is a challenge that all marketers face, and with the advent of location analytics, the art of personalization has been brought to the forefront. Location analytics refers to the study of where your customers are, when they’re in the optimal location (i.e. when they’re in your store or visiting your website), and how you can improve upon their experience by personalizing your content. Formerly reserved for marketers specializing in big data, location analytics is now accessible to even the smallest startups and is available via an application programming interface (API) or results that can be accessed by anyone with little technical knowledge. The future of location analytics: Being able to integrate your content seamlessly into your audience’s experience, based on their location, signals a new future for personalization. That’s why Google is buying up start-ups that are creating the next generation of location analytics. Has your business embraced personalization in the way it’s changing the game?
The amount of data we generate today is staggering — both in terms of quantity and velocity. In fact, according to Gartner, by 2020 we will produce forty-four zettabytes of data. This is approximately two hundred times the total information produced by all humans since the dawn of civilization. To put that into perspective, if you were to store every piece of digital data ever created on just one single hard drive, you would still only cover a mere 0.0000000005% of this data.
So, what does all that mean for businesses and brands? It means that being able to effectively leverage location data is critical to gaining an edge over competitors, as well as building loyal customer bases.
Although a lot of people think of the word “personalized” as meaning something specific like tailored clothing or personalized medicine, it refers to making our experiences more relevant — tailored to us in some way. We already know that there is an enormous difference between someone who is willing to try a new restaurant because they’ve heard good things about it versus someone who’s motivated to go out of their way to find a place that fits their dining preferences. Personalization is simply using the data we create to help us make decisions that benefit our bottom line. For example, if I’m an executive at a large retail company, I’m going to have access to unbelievably detailed visitor logs and demographic data. If I wanted to increase sales, I could use these numbers to better target my advertising dollars towards certain geographic areas or demographic groups that would prove most likely to respond positively to any given campaign.
To understand how location can be leveraged to maximize consumer interaction, let’s first look at how location plays such key roles in marketing strategies.
Understanding GPS Location Technology
We’re living in an era of ubiquitous computing, which means that technology is everywhere. And while much of this tech may seem invisible or mundane, oftentimes it holds immense power. Case in point: the latest smartphones come equipped with an accelerometer sensor that detects motion, enabling apps to detect whether a person is sitting down or standing up. Other sensors detect location, direction, temperature, humidity, and even music playback volume. All this information is then stored in a central database called the cloud. Think of it as having multiple copies of all your contacts, photos, calendar, emails, documents, etc., scattered throughout the world. You can access them from anywhere.
Now consider the case of a weather app. If you subscribe to receive updates during severe storms, you’ll want to see notifications whenever dangerous conditions arise. That same app might also send alerts when conditions begin to improve. Although none of these scenarios are entirely dependent upon location tracking, each uses location data to deliver content that was previously unavailable.
This capability enables companies to provide consumers with targeted product recommendations based on where they live, work, shop, dine, play, exercise, and so forth. According to Dimensional Research, the number of unique mobile location users has increased exponentially year after year. Additionally, the average time spent per session on connected devices has grown from 10 minutes in 2012 to 31 minutes in 2013.
This trend isn’t going away anytime soon. In fact, estimates indicate that there will be 5 billion interconnected devices by 2018. As a result, geofencing, proximity marketing, and retargeting can help companies reach those customers at precisely the right moment — at home, at work, at the gym, wherever they happen to be.
Today, many companies employ various forms of location intelligence to enhance customer experience. Here are three types of location targeting that can affect the success of a business’s overall strategy.
Geofencing allows businesses to define a geographic space around a particular facility, store, or event such as a concert. A variety of software applications can communicate via Bluetooth or Wi-Fi to determine the approximate location of a device, allowing the system to identify which area of the venue corresponds to the user/device.
For example, Target announced its intention to install a new wireless guest locator system at 300 stores across the U.S. It began testing the system in August 2012 and finally launched it nationwide in March 2013. By connecting to existing Wi-Fi networks, guests automatically register themselves as they enter a participating store. The entry doors lock until the shopper is ready to leave and staff members can immediately begin greeting them inside without having to ask questions about checkout procedures or current promotions.
Target’s system also tracks shopping cart movements to give targeted ads and coupons to shoppers. If a shopper buys a $50 item, she’ll receive a coupon for $10 off her next purchase.
ROI With Location Intelligence
We know your marketing team prefers TV to the computer, and you are working on their exercise. They are running a marketing strategy, and they are on a budget. That would be an impossibility without this type of marketing campaign, so why do they use location intelligence? Location Intelligence Data is an analytics tool and a powerful way to do a lot of things-streamline the marketing effort and get valuable insights on your target audience. When you collect geospatial data, you may gain meaningful insight from the data and, as consumer behavior increases, you may also realize that the advertising you put on your website is benefiting your audience. By measuring metrics like:
- Customer lifetime value
Revenue per visit
Return on investment
Leveraging Location Analytics with Mobile & social media
Mobile apps like Facebook, Yelp, and TripAdvisor are constantly tracking users’ locations, which allows them to build a rich profile of each user. These companies take advantage of this information to enhance their service through targeted ads, promotions, coupons, and unique offers. A few years ago, such tools were limited to major players like search engines, social platforms, and online retailers. Today, however, location-based services have become a standard feature across many applications, providing consumers with a wealth of data that enables them to offer customized products and services.
Today, mobile technology has evolved to provide consumers with access to more than just phone calls, text messages, tweets, and emails; These individuals now carry smartphones, tablets, and other electronic devices equipped with GPS capabilities, giving them a comprehensive picture of where they go and what they do. This rich information provides marketers with better insight into consumer habits, preferences, and motivations, which assists with product development, customer service, and promotional efforts.
By gathering data via digital channels like e-mail, SMS, app notification, and push notifications, brands can better understand how customers interact with their brand, products, and services. For example, Twitter is used to distribute coupon codes and share promotions by offering discounts to its followers. Users who check out through a mobile site can be notified when a promotion takes place, which helps drive mobile conversions. The same concept applies to mobile apps, where specific promotions occur based on a user’s location or proximity to specific stores.
With location analytics, you can easily measure and track conversions and other key performance indicators. As the data continues to grow in volume and complexity, though, it becomes difficult to handle manually. We know your marketing team prefers television to computers, and you are working on their exercise routine. They are carrying out a marketing strategy, and you’re trying to balance their needs against your own. That would be impossible without this type of marketing activity, so why do they choose location intelligence? Location Intelligence Data source is an analytic tool and a powerful method to perform a lot of things — streamline the marketing effort and achieve vital insights regarding your target viewers. When you collect geospatial knowledge, you gain useful info about the viewer and, as consumer behavior increases, you may also notice that the advertising you place on your website is benefiting your audience. Through monitoring metrics such as:
- Conversion rate
Lifetime value of customers
Number of referrals made
Rate of return on investment
Quality of your advertising
Do you have a high-density population or a low-density population? This type of data is important for better understanding the number of consumers who are or how your site should communicate with your customers. The number of marketing and other metrics depends on your business, but anything and everything you can do to attract them can benefit them or your conversion rate. Location Analytics is a combination of data, analytics, and technology. Although there may be similarities, they can also be powerful to bring together the three pieces. To understand location technology, you need to understand how your data is generated.
Location Intelligence allows you to collect and analyze location data. This allows marketers to track their target audience; see how customers are interacting with you and monitor consumers. Big data is time-app3. Uses predictive algorithms to optimize campaign success
Increases conversion rate by 10%-50%
What makes location analytics so powerful?
It opens entirely new possibilities for market research and content creation.
- Marketers can leverage technology to understand changes in customer preferences.
Market researchers can make smarter predictions. This helps them quickly adapt to market shifts.
Content creators can create more impactful pieces of content.
Retail managers can focus on creating an exceptional experience for guests.
Consuming and having access to location data is powerful. Consumers are savvy about their own interests, and location intelligence provides insight into what your audience needs. If you can access location data in a way that benefits your marketing effort, you will reduce your waste, decision-making bias, and overall commission for business decisions. Machine Learning allows you to gather data based on consumer behavior and vanity metrics (e.g. likes, shares, comments). Based on the analytics we collect, business intelligence (BI) can give you a better view of your potential customer or customer.
a. Mobile apps
b. Online presence
c. social media accounts
Once you know the answers to these core questions, you will be able to build an effective location strategy that leverages the power of all three big data platforms:
- Web–Mobile App Interaction Platforms
Big Data Systems
Cloud Computing Services
How Location Analytics Helps Marketing Managers Increase Revenue
- Reaches out to existing customers for reengagement
Captures more leads through new mobile
How to use Expansion Strategy with Location Intelligence
As businesses evolve, identify their customers, learn about their product flows and what their consumers like, determine whether to trade or, decide to stay away from a product altogether, determine which type of marketing to do based on consumer behavior for business intelligence, and population growth. Using business intelligence to gain more insight into consumer behavior can save you time, help uncover the best product to compete with you, enhance your innovation efforts, and boost your profitability.
However, how do you get these insights to create a winning marketing strategy?
What geographic areas are most important to my sales team?
Where do my customers spend most of their time when they visit my stores or websites?
Which geographic regions tend to be more profitable than other regions for my business?
Which geographic regions generate the best return on investment for my business?
What specific products are most popular among different demographics?
Are any locations having issues attracting customers?
Does advertising during certain events impact my conversion rate?
Can I target exclusive offers to customers based on their location preferences?
Will I need to adjust advertising campaigns or store layouts to better appeal to customers across geography?
How much does customer service vary by location?
If I change the store layout, will this affect customers’ ability to navigate the store efficiently?
Should I increase my inventory levels in high-demand areas?
Location is one of the most powerful tools used by marketers. As a location technology, location analytics can be used to track customers’ and players’ locations and compete with your competitors- including consumers. Enterprise-wide CRM platforms in this technology allow location intelligence to be easily integrated into your marketing system and to optimize your marketing efforts to increase your ROI. Another advertising device uses location data:
big data. In a recent product report, we listed two applications that we are using in our research. One is sharing spatial data between our Box Dashboards and can be used to store location controls on social media. This allows marketers to monitor market trends, competitive landscapes, and store locations at any time.
Data analytics started growing in recent years when GIS and location analytics were connected. If you are using one of these location analytics solutions, you can benefit from the insight gained by location-based intelligence. Just imagine how optimizing your marketing by mapping geospatial data can benefit you. Take forward the line of strategic decisions you were making in your data and use these location analytics insights to deliver a location intelligence solution. Predictive Analytics is another way that a location analytics platform can benefit marketers. The bottom line is, the location analytics market is expected to grow from $44.5 billion in 2017 to $52 billion by 2021, with the U.S. expected to serve as the largest pie of the global location analytics market, 2.
What Is Geospatial Intelligence?
What Is Geospatial Intelligence? Geospatial intelligence is neuroscientists working in the field of artificial intelligence and the cognitive processes of processes. Scientists are using geospatial intelligence to serve as the foundation for the rise of remote sensing and gizmo technology. Scientists use geospatial technology when they improve a user’s comfort at work or when they store geospatial information when interacting on a mobile device. Geospatial intelligence means maintaining your geospatial knowledge, such as mapping and analysis of geospatial data. A Geoint analyst is a company that helps businesses through analysis, collect, retrieve, and analyze this data to help them better understand their customers and prospects. These companies also help with management and analytics. Geoint analysts are typically located in Europe.
To use Geospatial-Intelligence, an analyst first needs to learn how to fully understand the data. As a geospatial intelligence analyst, you can use imagery to gain insight into the location of Earth, air, or other imagery. Geoint analysts also have access to satellite imagery and can design imagery with human and mechanical parameters. These capabilities would provide insight into consumers’ demographics. Once a Geoint analyst can combine the imagery intelligence into a data model, a Geoint analyst can provide a written report to the federal intelligence agencies.
Can I learn about Customer Behavior Through Location Intelligence?
Not all brands are successful in leveraging the consumer data captured by their Geoint analysts.
Often, marketers ignore their existing customers to track national sales, or they ignore their demographics and trigger events such as ad campaigns or sends to the Instagram feed in order to create awareness around social media. Some brands don’t even understand their potential customers. In addition, marketing campaigns can be run without any knowledge of the person studied. The reason behind it is that no knowledge, or lack of understanding of consumer behavior, can be a hindrance to understanding and analyzing a brand. Several types of marketing campaigns can be executed to understand consumer behavior. Marketing campaigns with error messages, advertising messages, etc. can be run without any consumer insights. Manufacturers have realized or established data that can help marketers to understand customer behavior and increase revenue by providing insight and understanding of consumer behavior. Manufacturers are going to try to perceive and understand consumer behavior through business intelligence to reduce costs and increase revenue. Geospatial data can be used to gain actionable insights from location data; Location analytics and visualization can also help marketers to understand being a consumer and the behaviors that drive their customer journey.
To modify the educational material available for your product, provide the GEOINT Analyst with feedback by providing contact. If you would like to learn more about location analytics, customer analytics, geospatial data, GIS, or cloud, or can learn more about how height monitoring can help your customer retention, you can contact us by creating an account on our website.
Predictive analytics offers marketers the ability to challenge the competition by identifying an opportunity that would be used by their loyal customers. Outdoor marketers have a competitive advantage by offering location intelligence that can be used to improve the quality and customer experience by analyzing customer data, supply chains, and social media. Pervasive physical tasks that focus on consumer behavior often need attention to measure the customer experience. Technology, such as big data, machine learning, and spatial analytics, has been developed to provide a well-rounded experience for the consumer.
Mobile’s importance in reaching consumers extends beyond access to information. As we engage in more digital activities throughout our daily lives, we expect brands to follow suit. From email to web browsing to app engagement, mobile offers marketers a chance to create experiences that capture the attention of users. Not only does this increase brand loyalty, but it also helps generate leads and drive sales.
But how do you get started if you’re not familiar with mobile?
Key mobile trends to keep in mind include:
• Smartphones are rapidly replacing feature phones due to their superior performance and portability. Of course, most of us still rely heavily on our desktops, laptops, and tablets, so the desktop/laptop market continues to prosper. However, smartphones rule when it comes to usage. Smartphone owners check their devices at least ninety times per day.
• Consumers are increasingly adopting smartphones, which makes them perfect tools for interacting with marketers. Most smartphone users already download apps, and 50% of these apps contain ads. According to marketers, this number will reach 90% by 2017. With so many people using smartphones, marketers should consider how their messaging could appear within native apps and across third-party platforms.
• There were 577 million tablet shipments in 2016, compared to just forty-one million laptop shipments. Tablet adoption outpaces laptop adoption in every region except the Asia Pacific. Marketers must embrace new forms of technology or risk falling behind competitors who are making better use of emerging tech.
• Mobile video consumption exploded last year. In fact, YouTube alone saw half a billion videos watched on its site in December 2016 — that’s up more than 60%, from three years ago. By 2020, marketers predict that 1 out of 3 online hours will be spent watching videos, with mobiles representing two-thirds of all time spent. This means that video content needs to play a leading role in any marketing strategy moving forward.
• Video viewing has become a regular activity of consumers instead of something special, whether it happens during work, dinner, while shopping, or while traveling.
• Video is important because mobile device users spend 40% of their time-consuming media. So, if you want your message to be seen, then getting your content viewed through different formats becomes essential.
• Mobile phones are no longer a barrier; they are becoming a necessity. A recent study found that 70% of adults want to make sure they never miss anything via their smartphone. More than 80 percent want to feel connected 24/7 on their smartphones to stay ahead of events, deals, news, etc.
Location Analytics and Personalization
Using location data, marketers can more deeply understand the behavior of consumers and also how best to position and market a brand in a crowded and complex market. Since 2011, when Facebook announced its Beacon program, the collection of geodata has become more mainstream. This has led to an influx of location and local search sites such as Foursquare and Yelp, and other location targeting tools such as Place IQ. The abundance of these sites then prompted the creation of location analytics tools such as Custom that provides location analytics to even the smallest startups and made it accessible through an application programming interface (API) and results that anyone can access and use. Future of Location Analytics: The future of location analytics signals a new future for personalization. Google’s recent purchase of start-ups such as Place IQ and Waze shows that they see this trend and want to get ahead of it. “Location analytics can significantly enhance advertising and marketing strategies,” says Nick Penman, chief executive of the Climate Group. “The introduction of location-aware digital signage has seen an increase in engagement rates by up to five times, resulting in higher sales.” The need to personalize marketing content is becoming more important for organizations to boost revenue, improve customer satisfaction, increase loyalty, and boost profits.
Top 3 Things That Make Location Analytics Valuable for Marketers
Location analytics can include a variety of options for a business to gather relevant data about their customers, including demographic, geographic, and geospatial data.
- Location-aware digital signage
Monitoring foot traffic
Social media integration Location Analytics introduces new ways to communicate with your customers.
The digital signage industry has grown significantly in recent years due to the introduction of innovative technologies. With social media integration, introduce new ways to communicate with your customers. The digital signage industry has grown significantly in recent years due to the introduction of innovative technologies.
Top 3 Reasons Location Analytics Creates Engaging Experiences for Customers
- Allows marketing teams to reach marketing to new consumers.
Consumers love visibly engaging with their phones
Seamlessly integrates with existing data and solutions Why Your Business Needs Location Analytics Approximately 75% of retail and process marketers and 75% of major retailers plan to use geolocation marketing in the next 3 years.
3 Ways Location Analytics Is Taking Engagement with Customers to New Heights
- Two-way customer-marketer engagement
Geographic assistance for agile (local) marketing
New capabilities for demographic profiling
Top 3 Ways Location Analytics Strengthens Relationships with Customers
- Reminding regular customers of specials
Encouraging customers to return investment in their business
Informing customers of new product lines
Why your business need’s location analytics in a world where consumers interact with their network from wherever they are, businesses that don’t take advantage of the “always-on” interaction channels will fall behind their competition.
Top 3 Ways Location Analytics Improves On-site Customer Experience
- Defines real-time foot traffic
Guides customers to the right product
Monitors the effectiveness of in-store signage
Location analytics bridges the traditional divide between customer engagement and response. Location analytics will provide a two-way customer-marketer engagement.
Location analytics is a perfect match for agile marketing. The use of location analytics will help marketers find new opportunities to influence customers at their shopping locations.
Location analytics is perfect for targeted marketing, as it provides new capabilities for demographic profiling. The questions that you should ask about the use of location analytics are:
1. Do I have a solid location analytics foundation using any of the following capabilities?
a. Proximity detection
c. Geographical analysis
2. How do my customers interact with my brand on the go?
The new frontier for data-driven success!
Mobile Marketing: It’s Like Nothing You’ve Ever Seen Before Mobile is quickly becoming what TV was 20 years ago. To survive in today’s marketplace, organizations need to embrace this change or risk being left behind.
Mobile phones have become one of the most powerful media platforms available to marketers. According to marketers, mobile ad spending will reach $20 billion by 2018, up from less than $6 billion last year. This growth rate is expected to accelerate as more people adopt smartphones and tablets. In fact, almost half of all adults now own a smartphone, while tablet ownership is even higher—nearly three-quarters of US households own at least one tablet.