Location intelligence is an emerging area of marketing that is beginning to gain traction. However, many marketers are not aware of the opportunities it presents for businesses of all sizes and in every sector.
Here’s a brief overview of what location intelligence is, the types of businesses that are best positioned to leverage it, and the benefits marketers can expect to see as they give it a try.
What is Location Intelligence?
Location intelligence is an emerging area of marketing that is beginning to gain traction. It’s the use of geospatial data to improve the effectiveness of marketing campaigns and to create actionable insights.
The term “location intelligence” was coined by IBM in 2001, and it refers to a combination of technology-based capabilities and services that help companies make smarter decisions based on geographic data.
For example, if a company needs to find new customers in a specific region, location intelligence would allow them to find all potential prospects in that area who fall into their target demographic. The company could then reach out individually via social media or other channels to connect with these prospects.
Why is Location Intelligence Important in Marketing?
Location intelligence is an emerging area of marketing that presents many opportunities for businesses. Location intelligence has seen a surge in popularity recently as marketers are finally starting to take notice of the benefits it offers. The potential benefits can be broken down into three categories: personalization, customer engagement, and measurement.
Personalization – With location intelligence, marketers can reach out to individuals based on where they live, and the places they visit. For example, a hearing aid provider might send a special offer to people who repeatedly visit local pharmacies on senior discount days. This is an excellent way to find new potential customers.
Customer Engagement – Personalized messages based on location and real-life movements give customers more reason to engage with your company and purchase from them again because they are receiving information that is tailored specifically towards them instead of generic advertisements creating an emotional connection between the customer and your brand.
Measurement – One of the most important reasons for implementing location measurements is to measure the results of a digital campaign. After deploying targeted ads to specific devices, it is possible to identify if those devices then visited a store location. It is also possible to use foot traffic attribution to identify which messages performed better.
Key Strategies to Take Advantage of Local Intelligence
Location intelligence is the process of leveraging cell phone location data to identify consumers and top-quality prospects, create personalized messages for them, and engage with them. This type of marketing uses location data to create more personalized experiences for consumers.
Creating highly relevant content and marketing campaigns is essential for maximum campaign ROI. Once you understand your prospects based on where they go and what they do, an advertiser can target potential customers who live in a specific FSA or postal code and include a call-to-action to a specific store location. This can be done through digital as well as Facebook and other social media ads.
Location intelligence can also help you locate your competitors’ customers so you can send them attractive offers to help you gain more market share.
It’s important that marketers consider the power of location intelligence as it becomes more mainstream in marketing. By understanding your customers’ needs based on where they go and what they do, you’ll be able to tailor your messaging accordingly and produce better results!
Conclusion
Taking advantage of location intelligence can be tricky. Many people may not even realize the importance of this marketing strategy. However, location intelligence offers many opportunities for a business to get in front of potential customers.
With a small amount of research, you can leverage this data to your advantage and get the best results.