Marketers today want to buy audiences - a micro view of their audiences behaviour and movement patterns to better optimise their campaign. The problem arises when there is an overflowing amount of data leading to the question of which data sets matched the needs of the campaign?
During this period of uncertainty, marketers need to start shifting their spends to locations where their audience are. Marketers which will benefit the most are those which re-adjust, innovate and move to where the eyeballs are, faster than the others. We see location data playing a very vital role - for audiences movement analysis and precision marketing.
This is where location data comes into play, with more precision audience measurement, deeper data analytics and hyperlocally connected.
So what are the data measurement metrics that marketers can use to demonstrate the true capabilities of location data?
Audiences Segmentation Beyond Demographics
Segmentation analysis are one of the most common data metrics that helps marketers optimising their business planning and measuring strategy. It is now possible to match anonymous location data with other data sources through powerful GIS-driven analytics to gain a deeper insight of who is exactly seeing their campaigns.
Marketers can now learn more about their target audiences beyond demographic profiles with a complete understanding of their movement behaviours and patterns.
Data from mobile devices, GPS, and connected devices can be fed into DMP to produce a huge population movement dataset that gives a full view of audience movement without accessing or storing any personal information. These data sets will then be segmented within the vicinity of the sites who are profiled.
Plus, the audiences that are reached can be categorised into various audiences profiles such as gaming enthusiasts, students, sports enthusiasts, music enthusiasts, shopaholics and Tech enthusiasts.
Take this use case for example:
A well-known pizza brand wants to amplify their ad campaign by targeting a specific segment of their target audiences. They wanted to reach gamers and tech enthusiasts to drive purchases of their pizza offers. An optimised campaign plan was built based on screens near their stores, and times when a high density of the target audience was seen around them. An additional layer of digital targeting where the audiences who are potentially exposed to the DOOH ads will be pushed with extra online or digital ads.
Read more here.
What’s more to come?
The world produces 2.5 quintillions of data every day. By 2020, 20 billion devices will be connected globally. Together with digital businesses and apps, along with IoT, a huge amount of location data will be produced. At the same time, wearables, smart appliances, smart homes, transactional data, blockchain and more will add on to a tremendous wealth of consumer data.
Marketers are increasingly shifting to an outcome based approach by integrating location data, when engaging with their consumers at various touch points along the customer journey. There’s no question that location intelligence will see exponential growth over the next couple of years. This will create a whole new connected ecosystem that will power personalization of everything.
We are only at the beginning, stay tuned as we explore more location data capabilities in the upcoming blogs.