In order to achieve any measure of success, it’s important for businesses to have a thorough understand of their consumer base. This includes basic questions such as who they are, what they want, and why they want it. If a business can find solid answers to these questions and more, they’re on the right track. From here, they have develop targeted, effective marketing campaigns that pull customers in and keep them coming back for more.
How businesses go about answering these questions is critical when it comes to creating effective marketing, with data quality being of the utmost importance. This is where location intelligence solutions comes into play, such as geospatial data that helps businesses gain a better understanding of their consumer base.
Using the location data from smartphones and a variety of location services, location intelligence gives businesses access to a precious new kind of data that allows them to understand in ways that were nearly impossible decades ago. For example, the services provides by location intelligence companies can help businesses understand the activity and whereabouts of their customers such as what kinds of other businesses they patron, how often they go there, and even how much time they spend inside.
This kind of detailed demographic reporting is extremely useful for a number of reasons. Here are a few reasons why every business can benefit from location intelligence:
The future is here
For many people, it was a bit of a shocker when tech giant Amazon purchased Whole Foods. On the other hand, location experts saw this strategic move coming from a mile away. According to them, it was a calculated decision made to acquire precious data on population density, and regional consumer activity. This data could then be used in a variety of useful ways, such as optimizing deliveries.
Location intelligence has the potential to completely revolutionize the landscape of business strategy and even structure going forward. Large companies are quickly becoming trend setters in the ways they utilize location intelligence, ways that can also benefit smaller businesses.
The missing piece of the pie
If creating an effective marketing strategy was a pie, then location intelligence would be the missing piece with a whipped cream and a cherry on top. The insight it provides is truly invaluable, and this information can help businesses connect with their consumer base in truly authentic and meaningful ways.
Ever since digital marketing became an actual thing, brick-and-mortar businesses have struggled to connect the real world activity of their consumers with their online presence and efforts. Gaining an understand of what digital marketing activities increase in-store foot traffic is extremely useful in closing the gap between storefront and mobile browser. For example, a business could see when a customer responded to a coupon or offer on the smartphone, and even go as far as knowing when that same smartphone got close to the store.
Information overload is a phenomenon that all businesses struggle with. Simply put: consumers are saturated with marketing messages. After being constantly bombarded with thousands upon thousands of marketing messages each day, consumers quickly develop an unconscious knack for disregarding anything seemingly irrelevant. And the last thing any business wants is to become irrelevant or stagnant ever-changing world mobile marketing.
One tried and true way businesses use to remain relevant is creating advertising with a more personal touch. This helps to build a loyal and solid customer base. And what better way to personalize advertising than to get up close and personal with activities of customers? Location intelligence can provide this information, which can help businesses understand what makes their consumer base tick.
Like any other kind of business intelligence tool, location intelligence software isn’t a magic wand, though when used correctly the results can be rather astounding. Instead, location intelligence is only apart of the puzzle that is understanding consumers. There’s no denying however, that the data retrieved from location intelligence can useful in creating a strong marketing campaign.