How Local Found Itself on a Mound of Big Data
There is no question the hyperlocal era has brought with it a heady onslaught of data about consumer behavior and the way local businesses interact with their customers. Start with local search, layer on mobile, bake in beacons, and leverage calls to track consumers as close to a business as possible. In-store, interact through mobile messaging; capture point-of-sale data; and feed it all through back-office functions, where other data awaits. Marketing has never offered more potential for effectiveness, efficiency, and quality relationships between businesses and consumers.
But it’s not an easy road. There are real issues around sourcing and parsing the data; around finding the best strategies to put it to use. Data quality is a problem in need of solving. Companies negotiating with partners for their data aren’t always getting what it seems, and even when they are, are they realizing its maximum potential?
Brands and Their Local Data Issue
Something we hear all the time from brands and agencies is that while they’re thrilled about all of the data they’re collecting, it’s been slow-going as they try to transform that data into actionable insights. Everyone can see the possibilities for using big data techniques to drive sales and optimize marketing systems, but for many marketers, translating this data into ROI remains a few years down the road.
Certainly, marketers can find great benefits by compiling deeper and deeper psychographic profiles of their customers — weaving in mobile location data, social signals, payments data and more to create a more complete understanding of intent and triggers all the way through the purchase funnel.
Over time, different companies will learn which signals have the most leverage, and which marketing details can be manipulated to spur sales. But the big data revolution is still in its infancy. That’s why we’re spending the day talking about these issues at the Local Data Summit, “The Power of Data,” in Denver on March 5th. We’re gathering some of the top thinkers from around the country to talk about how this big data revolution is affecting marketers and solutions providers on a local level — and what they need to know to stay ahead of the trends coming to fruition in the next three-to-five years, when local data will really come into its own.
Come join us for Local Data Summit next week for insights and conversations around this seminal issue in local. Companies speaking, sponsoring and attending include Google, Yext, Factual, MasterCard, Bing, Moz, Esri, PlaceIQ and many more. Plus: More networking opportunities on the Ski Day on March 6th!
Click here for more info and get your ticket now to save $200. Ticket registration comes with instant access to online networking platform.