Consumer-journey mapping helps advertisers compose more complete pictures of their customers’ lives. It creates the opportunity to detect in one channel when someone might appreciate an offer, a service, or an upgrade—then deliver in another. Precise location data helps you do exactly this.
Leverage real-world location context to make sense of your consumer data and improve the three most crucial steps in executing successful advertising campaigns:
Segmentation
Location provides many ways to segment audiences, especially when location data is considered alongside other factors (such as time, weather or events in the local area). Examples of location-derived segments could include yoga practitioners (based on repeated visits to yoga studios or shops), exercisers, motorists or people who love spending time outdoors. There are endless opportunities.
Location targeting
Location data offers immediate insight into when and how to target consumers. Geofencing a target area (such as a building or an area around a place of interest) allows the automatic targeting of consumers that walk into it. This immediate location information can be combined with psychographics, purchase intent, and even visit patterns over time to target the right consumers.
Attribution
For more accurate ROI calculation, use location data to map the relationship between ad display, store visit and purchasing behavior
If a consumer looks at an advert on a mobile device, then visits a store to make a purchase, GPS, beacon technology or Wi-Fi signal can link the visit. Point-of- sale data in conjunction with location data can then identify whether the visit actually led to a transaction. Even though the person may have visited the store many times before they actually purchased the product, calculations can still be made as to the influence of the original ad.
For more insights from HERE Technologies on how location data is going to inform the advertising ecosystem, download the full white paper here.