4 Big Benefits Location Data Can Give Marketers

Customer location information has become widely used and valuable in a very short period of time. According to the study, 66% of retailers believe permission-based or consent-based location tracking is essential to their business. Among the most successful retailers, the compliance rate is even higher, at around 85%.

But the importance of location data is not limited to the retail market. All types of businesses can benefit from leveraging location data for marketing. That's true for organizations ranging from healthcare organizations to small businesses and even large franchises with multiple branches.

What are the benefits of using this data? 4 such benefits are mentioned here.

1. Targeting In Real Time

One of the biggest benefits of using location data is real-time advertising.

This will let you know when a person is at a certain location. He is near your shop or going to the city where your shop is located. You can then reach them with marketing promotions tailored to them through messages. This type of marketing promotion is more likely to be successful.

And so now many marketers are using this strategy to advertise their products.

Digital platforms are now creating huge opportunities for real-time advertising with the help of location-based data. Geofencing (Geofencing) technology can be used for this. With the help of this you can collect location information with certain conditions.

As such you can specify which specific city or local area information you need. Marketers are now coming up with various new innovative ideas using these. Sometimes they offer limited time offers to attract customers. Sometimes when someone comes around the shop, he is given a reminder through a message on his mobile phone. Sometimes when approaching the location of the store, the customer service is contacted directly.

2. Segmentation Or Dividing Customers Into Groups

Location based data is not only useful for your current marketing needs. This increases the success of your marketing promotion in the future as well.

This is because you can better segment your customers. Different groups can be created using their behavior and location data. For example, there may be a group of people who visit your store the most. Yet another may be those who have not visited the store for a long time.

Why do you need to know them? According to a survey of UK retailers using location data, leveraging location data to create groups of potential buyers is the most valuable use of location data.

Other information that can be obtained from these data is also very important. For example, the behavior of someone who comes to your store once a week may be completely different from the behavior of someone who comes twice a week.

If you can create the right groups by considering the small things like this, then the chances of success of your marketing campaign will increase a lot.

3. To Know About The Buyers

Businesses can benefit in the long run by using location data to learn more about customers.

By leveraging more advanced technology with location data, it is possible to understand the complex mindset of shoppers. You can use information such as the route they travel, the distance they travel and the amount of time they spend in different places.

Another great advantage is that you can learn about your customers as well as your competitors' customers from location data.

4. propaganda

Are your efforts to promote the product successful? How are the various steps taken to increase sales working?

Location data can help you answer these questions. This data can be used to directly link online purchases and participation in marketing campaigns. Through this you can benefit from the investment made in the marketing sector.

As more new things come out that take advantage of location data, there are more great opportunities for marketers to work on. Future technologies in the marketing world will consider how to promote products in new ways based on real-world location. As a result, marketers will also be able to make better decisions.

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4 Big Benefits Location Data Can Give Marketers