For Many Marketing Measurement Processes, Location Data Is Key
But only a quarter of marketers have deployed location data solutions
A spring 2017 survey of multichannel marketers in North America by 451 Research, commissioned by location-based data and technology company PlaceIQ, found that more than half of respondents consider consumer location data to be the most important element of their measurement processes.
The appeal of location data is clear—as consumer journeys become more complex and consumers increasingly toggle between digital and physical engagements with brands, marketers need to stay one step ahead.
What’s more, location data enables marketers to measure lift as it relates to in-store visits, and helps close the loop between journeys that might start online and end at a brick-and-mortar location.
But despite its potential and perceived importance, only a quarter of marketers have actually deployed location data solutions, according to 451’s findings.
Slow growth in certain industries as well as measurement “murkiness” in the ad ecosystem have driven advertisers “to ask more pointed questions about the impact advertising has on their brands,” according to the report.
To answer these questions, marketers are experimenting with new tools and data sources for measurement. 451 Research found that in addition to those who have already deployed location data solutions, for example, another 21% are testing them.
Aside from location data, other emerging measurement tools are gaining traction as well. Nearly 30% of respondents ranked multitouch attribution services as the most important component of their measurement process, signaling a move away from the problematic last- or single-click approach to attribution.
And they’re putting these attribution tools to work—the survey showed that 25% of marketers have already deployed them, and 34% are testing them out.