In this episode of Location Weekly, the Location-Based Marketing Association covers Best Buy teaming up with Pokemon Go, Taiwan’s FamilyMart launching a convenience store on wheels, Baidu getting China’s first autonomous robotaxi license, and Kalibrate partnering with Near on location intelligence.
Advanced location intelligence software combines artificial intelligence and street-level mapping data to help startups predict customer buying patterns and stage inventories in the right locations — e.g. ghost kitchens — using prediction algorithms and real-time sales metrics. Location intelligence software firms are also taking advantage of traffic data, weather information, and consumer behavioral data to help last-mile delivery companies streamline operations in today’s tough business environment.
In this episode of Location Weekly, the Location-Based Marketing Association covers Trader Joe’s partnering with MagnusCards on accessible shopping, Duolingo opening a Taqueria where you can practice your Spanish, Transverse releasing a location intelligence service for food tech companies, and Engine Creative using AI with DOOH to help find missing people.
In this episode of Location Weekly, the Location-Based Marketing Association covers Incognia solving QR code fraud with location verification, the Ontario Regiment Museum using an AI virtual assistant, L’Oréal launching virtual make-up for your online work calls, and Covid-19 leading to greater public willingness to share location data.
Location intelligence is expanding beyond its well-known uses for advertising (ad targeting, attribution, etc.), supporting enterprises in a number of other ways. That includes supply chain management as well as decisions about where to open another store location.
All of the above applications of location intelligence are fueling UberMedia, our latest guest on Street Fight’s Heard on the Street podcast. UberMedia CEO Gladys Kong says that this expansion of location data’s utility was already underway but has accelerated in the Covid era.
The pandemic has changed the way businesses function, and while a lot of purchasing has moved online, many physical locations remain. Location intelligence is one factor that can help businesses perform better. Its uses include supply and inventory updates, supply-chain improvements, sales and marketing optimization, and monitoring for increased safety.
Without pixels, marketing in the digital world would be a guessing game. However, with 90% of all commerce still taking place in the physical world, oftentimes marketers find themselves in the dark, not knowing how their customers are interacting with their brands offline. Enter location intelligence, or as we like to call it, pixels for the real world.
Take a moment to reflect on the past few weeks. Did you stop at a coffee shop on the way to work? Did you work out on specific days of the week at a nearby gym? Are there restaurants you frequent when you are too lazy to cook at home? In a study, published in Nature Human Behaviour, researchers found that people frequent up to 25 places at any given time period. Similar to marketing pixels placed on websites, the ability to understand physical, real-world behavior such as path-to-purchase, visitation patterns, day-of-week preferences, and daily activities fuels more strategic decision making.
Location intelligence has become an important but crowded sub-sector of local media and commerce. When it comes to value for retail brands, marketing tactics are all about driving (and measuring) foot traffic. This is where Paris-based location marketing and analytics company Teemo continues to innovate.
As we discussed with CEO Benoit Grouchko on the latest episode of Heard on the Street, the company works with multi-location brands like JoAnn Stores to boost return on ad spend by growing physical foot traffic.
Responsible location intelligence involves practices like “stop data,” to measure users’ location dwell times, and the scale Foursquare achieves in its network of app publishers. Placed is one of the first location data players and a leader in attribution since 2011.
Now that the two companies have come together via acquisition, how does that position Foursquare for interstellar domination of the location intelligence market? It’s about greater capability and scale, say Foursquare’s Josh Cohen and David Shim, our guests on the latest episode of Heard on the Street.
The amount of location data can be overwhelming, making it difficult to understand when to use what information. Even the most experienced marketer can lose sight of the basic principles that guide successful use of location intelligence tools.
Based on our 11 years of experience helping mobile apps leverage the context of their users, we offer the following 10 commandments that every marketer working with location intelligence should keep top of mind to drive a successful marketing strategy.
Michelle Zhou: Location data can provide far better optics into consumer behavior than traditional data streams. Data from smartphones, social media, and other sources can track consumer purchases and migration in real time. Using data trends and insights, businesses can develop a comprehensive understanding of their customers and make the most informed business decisions.