The imperfections of location-tracking tech do not mean that all location data derived from GPS satellites is inaccurate or useless as a marketing tool. It just means that marketers need to better set their expectations, know the data they are buying, and factor the limitations into their partnership agreements and marketing plans.
Doing location targeting right is no simple matter, and common claims about it require further scrutiny. Accuracy of a location through parcel targeting, a rapid refresh audience strategy, and reaching the right people at scale through IP and cross-device targeting will make a major difference in location-based campaign outcomes.
When consumers visit physical stores, the likelihood that they will complete a purchase shoots up, especially in comparison to the likelihood they will make a purchase after visiting a digital site. “Visits lead to sales,” was the message of Hongzhe Sun of GroundTruth, one of the sponsors of Street Fight Summit in New York Wednesday.
By opening their platforms up as self-service solutions, location intelligence firms are hoping to provide clients with more open access and to inspire creativity in using existing tools in new and innovative ways. Here are six examples of vendors providing location intelligence capabilities to clients through a self-service model.
A recent study by the company focused on the foot traffic at mass merchandisers and grocery stores and airport traffic, and pointed to the NC city as the best choice for Amazon’s HQ2. “Being able to dig in to real world behaviors, it draws out real actionable recommendations,” says Sarah Ohle, VP of marketing insights.
A generational shift is impacting the way consumers interact with brands, downplaying the role that physical stores play in the traditional retail environment. According to Duncan McCall, CEO of location intelligence firm PlaceIQ, the changes that brands have seen thus far are just the tip of the iceberg.
According to a new report released by the location-driven insights firm Placed, accuracy has fallen by the wayside in the rapidly expanding location-based advertising industry, which is estimated to reach nearly $30 billion by 2020. Placed’s analysis found that just 1% of locations are accurate enough to identify a store visit.
The company has 12 new content providers joining its digital place-based media network target consumers on screens in thousands of building elevators and lobbies across the U.S. The partners include Vox Media, Bloomberg, Billboard, Quartz, and The Hollywood Reporter, as well as Stadium sports video content.
In-store advertising vendor inMarket is expanding its offerings to agency trading desks this morning, with the announcement that it’s opening up its Audiences segmenting product as a self-service solution. Beginning today, agency bid desks will be able to use inMarket’s reservoir of first-party location data to enable hyperlocal targeting.