What’s Around Me?
Does location data make marketing and advertising more effective?
You and your teenage son and daughter grab your smartphones and drive downtown on a Saturday afternoon. You split up and agree to meet back at the car in three hours. On his way to the virtual reality arcade, your son receives a texted promo code from his favorite fast-food restaurant, so he detours for a burger. Your daughter joins two friends at the nail salon for mani-pedis. Afterward, she receives an invitation to rate her experience. Five stars! You walk to the department store to buy clothes for work. When browsing online for designer clothes the day before, you saw an ad for a weekend sale. Now, you’re finding the perfect outfit.
The scenario above represents a normal weekend day in the life of an average family in 2018, and it underscores why location-based advertising and marketing is growing rapidly. In 2017, U.S. companies spent $17.1 billion on location-targeted mobile advertising and a BIA/Kelsey studyforecasts spending will increase to $38.7 billion in 2022.
But, does location data make marketing and advertising more effective?
The was the big question Factual, the leader in global location data, had when they commissioned Lawless Research to conduct a study among marketers who use location data. They also wanted to know how companies use location data, what features are most important, and what concerns they might have.
To answer these questions we surveyed 700 location data buyers. The results were surprising:
- Using location data boosts effectiveness of marketing and advertising campaigns.
- Campaign effectiveness increases when location-based data is used to personalize the customer experience.
- Location data users rate quality as the most important feature and 95% say transparency is an accurate indicator of data quality.
CLICK HERE to see the whole report.