PlaceConf: The Agency POV on Location-Based Marketing
September 18, 2017 | Contributed by: Kyle Harris
Marketers and agencies are embracing location as a tactic that can pay dividends in both the short and long term. At the 2017 Place Conference 3 employees at top agencies Erica DePalma, from Media Horizons, Carly Costantino from SapientRazorfish and Matthew O’Neill from GroupM were asked to share their thoughts on the value of location in 2017 and beyond.
To help give some context to the current landscape, Matthew stated that 85% of current clients of agencies are using location data in some way or fashion. This ranges from contextual understanding for ensuring you serve ads to the right population to truly revealing who your actual customers are to deliver a customized experience designed for conversion.
Each panelist shared examples of using location data from current clients to help illustrate tactical items everyone can do to leverage this functionality. From learning about users shopping at different stores to build look-a-like audiences to removing loyal customers, location data can be used in a plethora of different ways.
The topic of roadblocks to location marketing adoption was also discussed. The top reasons that location data isn’t more heavily adopted were
- Budget allocations
- The cost comes from working media dollars
- Attribution limitations
- Location suppliers providing their own attribution
The panel was then reminded that 8/10 marketers have a positive sentiment around location marketing. With this in mind each panelist shared some guidelines around using location marketing.
Agency Guidelines for Using Location
- Don’t jump into cost per visit buys to quickly, make sure you can back into a CPC or CPM to be able to measure success in an apples to apples way
- Location marketing can and should work for most advertisers but make sure you are optimizing. Don’t pay for visits you’d already be getting.
- Effectiveness should be valued over efficiency.
Finally the panel wrapped up with a discussion on the future of location marketing. The leading expansion item mentioned was in the next 12 to 24 months was the inclusion of this data into different channels like TV & commercials.