Agencies Must Embrace Location or Lose Their Competitive Edge
August 17, 2017 | Contributed by: Greg Sterling
Consumers on the go are becoming more impatient and demanding. They want more personalization, greater relevance and better customer experiences. And location is one way to deliver against these growing expectations.
It seems that almost weekly we get new case studies demonstrating the creative variety of ways location is being used. But even as we hear about brands managing local Facebook pages at scale and others tracking OOH campaigns into the store, most enterprises and agencies remain on the sidelines.
Among the key technology tools available, mobile-location data is fast becoming a critical way to gain new customer and competitive insights and deliver better ads and user experiences. Eventually, location data will be a part of most if not all digital campaigns. But many agencies have yet to tap into location in a serious way or are stuck at “location 1.0.”
Meanwhile, brands are putting increasing pressure on their agencies to offer “more advanced” digital work. A recent study found that 62% of agencies report their clients are asking for advanced digital work and 43% feel they aren’t prepared for these demands.
Agencies can respond to these requests in part by deploying location data in multiple ways, for customer insights and campaigns. Indeed, without location-based offerings and solutions, agencies are missing out on a key differentiator (right now). However, location intelligence will soon move from differentiator to an expected capability or campaign component.
Agencies seeking to move beyond “location 1.0,” need to understand location data, its quality and how it can be used most effectively. There are still many myths and misunderstandings that location-data providers and platforms are actively working to dispel.
Brands and clients expect agencies to be ahead of the curve and to bring them new and innovative solutions. The market is moving very fast and agencies must adapt or risk losing their competitive edge. It’s time for location 2.0.
The Place Conference is the only event that explores the full spectrum of location use cases (analytics, targeting, proximity marketing, customer insights, etc.). LSA, Facebook, Google and PlaceIQ are also hosting an invitation-only breakfast for a tactical deeper dive on location data and analytics.