What the Data Show about Location Intelligence in Advertising (or Lack Thereof)
September 12, 2016 | Contributed by: Joe Morsello
Marketers are slowly waking up to the power of location intelligence for insights into consumer behavior and channel effectiveness. In fact, location data is becoming a critical (and soon mandatory) component in understanding the full customer journey from online to offline.
The ability to see the entire customer journey from search to store is one of the most profound developments in marketing today, something that has eluded marketers for many years. However, many brands still don’t know where to begin when it comes to understanding the power of location and how the data can help them.
Here are some numbers that show the importance of location data/intelligence:
- 64 cents of every dollar from in-store sales was influenced by the internet in 2015.
- Of those utilizing beacons, 76% are using them for location analytics.
- Engagement rates increase up to 30% when accurate location data is used to customize ad creative.
- Location-aware search campaigns see a nearly 90% lift over non-location targeted campaigns.
- 55% of customers use mobile phones while in-store at least sometimes, and 72% have searched for coupons while in-store.
- Only 37% of brands and retailers said they had an online-to-offline strategy in place geared towards creating a unified customer experience.
Google likes to speak of consumer-mobile interactions as “micro-moments” or “mobile moments.” But they’re part of a larger shopping process that involves many media touch-points. Location is a tool that can help marketers better understand and respond to a complex and evolving consumer journey. This is the focus of the 2016 Place Conference in Chicago on September 21.
A unique one-day event on proximity marketing, indoor customer experience and location analytics, The Place Conference is attracting a diverse audience of location-leading brands, retailers, agencies and tech providers. Here are five reasons marketers should attend:
- Learn how location enables deep customer & competitive insights
- Understand mechanics of online-to-offline attribution
- Network with dynamic & diverse attendees: agencies, brands, publishers, platforms
- Understand indoor location: beacons, smart lighting & geo-magnetic positioning
- Get tactical instruction with pre-conference location clinic
For more visit www.theLSA.org/Place.