Innovative marketers are now using data related to a person’s geographic location as a way to improve the targeting and placement of their advertising efforts. This process is referred to as location intelligence. Location intelligence has already transformed many aspects of modern marketing and will only continue to become more influential as mobile technology usage and networks rapidly expand. Here are a few of the main reasons location intelligence is changing the marketing game.
Made for 5G
The expansion of 5G mobile data networks has a huge impact on the effectiveness of location intelligence. With 5G networks, location-related data is easier to gather, faster to analyze and much more precise, resulting in even better decision making when it comes to your marketing strategies. As mobile networks continue to grow and become increasingly interconnected, with a perfect example being the internet of things, location intelligence will only matter more to marketers, as well as consumers.
Improved Segmentation
Effective segmentation is one of the hardest things for marketers to master. Without breaking the audience your marketing messages into targeted and highly specified groups, you can end up wasting valuable resources and gaining the attention of consumers who aren’t actually likely to make a purchase from your business. Location intelligence offers a way to segment your target demographics in a way that’s extremely precise, giving you the power to deliver the perfect content not only at the right time but in the right place.
Consumers Don’t Mind Sharing Their Data
When consumers first became aware of their location data being tracked and used by businesses for marketing purposes, many were skeptical and struggled to become comfortable with the idea. Times have changed, however, and most people now understand that tracking personal data is actually helpful to consumers, not just businesses. Many people have now had positive experiences during which location intelligence has been used to deliver a valuable piece of information to them right when they need it. For example, a retailer will use a text message to let a loyal customer know about a new sale when that customer comes within a certain distance of the store location. With this increased awareness and willingness to have their location data tracked and used by their favorite brands to create a better experience, consumers are just as ready for the expansion of location intelligence as marketers are.
Better ROI
Gaining new customers is expensive. Location intelligence helps boost ROI on marketing expenditures in a couple ways. First, location data increases the accuracy of targeting for advertisements. Fewer people will receive promotions or messages from your brand who aren’t interested in them, which is something that causes many ad campaigns to suffer. Secondly, the data you receive after running a campaign is extremely precise when you use location intelligence, leading to faster analyzation, better decision making, and fewer mistakes when it comes to allocating resources for future campaigns.
Boost Brand Loyalty
Many businesses, especially those with limited marketing budgets, see great results from shifting the focus of their marketing efforts to increase brand loyalty as opposed to reaching new customers. Improving brand loyalty is one of the main advantages of using location intelligence. Location data allows you to deliver perfectly timed messages to your customers, which increases their loyalty to your brand by giving them useful information when they truly need it. These are just a few of the many exciting ways location intelligence is making big changes in the marketing world. By improving segmentation and data processing, offering better ROI, making branding campaigns more effective and utilizing growing 5G networks, location intelligence is one of the most exciting aspects of marketing to keep an eye on.
