In this digital age you would almost believe some traditional advertising channels were all but dead, however the digital age has enhanced the effectiveness of these traditional channels by adding greater relevance to them. The ability to use location intelligence gathered through real time customer data has made targeting a specific audience easier than ever before, leading to targeted campaigns that are smart and aligned to todays connected consumer.
Previously targeting the right person at the right time was about where they lived, that simply is not effective any more, and we are all transient mobile enabled consumers who browse, experience, consume, collect and return on our own terms. The way that we do all this is recorded and the data leads to a far better understanding of consumers behaviours, understanding this data gives businesses great insight into their customers behaviours and if acted upon a significant competitive advantage as stated in this Forbes article.
By visualising the location component of the data you can begin to understand the consumer’s behaviour and against the background of a map it gains real context that you may have missed in a stack of data.
By utilising location intelligence data you gain a more intuitive insight into the data, you can find a workable compromise between two extremes of direct marketing: blanket mail-outs with their low response rates and customised mailing lists with their high associated costs. Location intelligence lets you find the postcodes and streets that are home to people with the best possible fusion of your so-called ideal customer characteristics, thus allowing for a maximum return from your campaign.
Informed location-based marketing and advertising isn’t just about finding new customers though; it is equally useful in nurturing existing customers and cementing customer loyalty. Continuing to effectively target customers with location-based advertising means that you can keep your brand in the minds of your most likely customers, e.g. with special offers, while targeting areas with less likely prospects with lower-impact, less frequent advertising.