Location Data Reshaping the Way Consumers Shop, and How Brands Reach Them

It’s no secret that location data is single-handedly transforming the way consumers shop and marketers market. With technology sophistication growing exponentially, consumers are becoming more reliant on their mobile devices to tell them everything they need to know, from where to find a product to how to get to a nearby store to find that same item. In this week’s roundup we’re exploring just how far we’ve come in embracing the opportunities that lie in location data and mobile. We’re sharing examples from both the consumer perspective, as well as national brands.

 

Lana Odintsova – Senior Managing Editor

Wired: Location is Your Most Critical Data, and Everyone’s Watching

 

This Wired article looks at how location is changing the way we, consumers, interact with the world around us. Instead of investigating how location data improves marketing efforts, it explores just how far we’ve shifted to depending on our mobile devices to interact with our environment. The author notes that, “Apps used to just provide a record of your whereabouts alongside a photo or a check-in. Now, they [brands] are using your location to tailor the experience not just to you, but to right now.”

 

Head of product for Google Now, Aparna Chennapragada, also contributed to the piece. She stated that, “Context is the new black.” The Google Now app, built into Android phones, is thus far the best example of the power of location: It can do things like dig up your boarding pass when you get to the airport, or remind you about your meeting at exactly the moment you need to leave. “In the past, in the desktop-web world, if I wanted to know something, I’d actually have to go spell the damn thing out,” Chennapragada says. Long gone are those days.

 

Marcie Ellison – Marketing Manager

MarketingLand: 10 Mobile/Location-Based Stats That Marketers Need

 

Did you know that nearly 70% of Google searches include a specific location? Or that national brands incorporating location data into their advertising efforts are seeing a 20% conversion increase. While we’ve all heard about “the death of advertising” – which is certainly not completely true – it is apparent that the paid media space is becoming more fragmented and thus more expensive and less effective. Enter location data. To put it simply, location data has proven itself to boost the effectiveness of mobile efforts. As quoted in the article, “Content is still king, but context is quickly becoming queen.” This Marketing Land article compiles a list of key location-based and mobile stats that speak volumes as to where top mobile strategies are headed.

 

Amanda Cash-Crowley – Demand Generation Marketing Manager

StreetFight Magazine: New Verve CEO: Mobile/Location Combo Will Continue to Increase in Importance

 

Verve mobile is a well-known programmatic mobile ad platform, and StreetFight Magazine recently sat down with their CEO to discuss the most coveted data in the fight to win mobile-local consumers: location data. She not only reminds us that 90% of transactions are still done at brick-and-mortar locations, but that mobile marketing is now surpassing digital marketing as a performance leader.

 

Dunja Subasic – Marketing Intern

Internet Retailing: Most Shoppers Happy to Share Location Data with Retailers, But Want More Regulation on How it is Used

 

As a consumer, I use my smartphone to take advantage of the many perks that location data provides. I can find the closest burger joint, figure out what route to take to get there, and check in on social media to invite friends to join me within a matter of minutes. With more and more apps coming out every day that enhance the details we, as consumers, can share, marketers need to keep a watchful eye on how they can use this data to help leverage their brand in a saturated market. Not only that, but they need to be wary of just how much of the data they use.

 

A recent survey conducted by Lightspeed GMI asked 1,000 mobile phone users about the use of location based services, and found that 74% of shoppers are happy to share their location data with retailers, but almost all of them (72%) worry that companies aren’t taking the extra step to ensure its responsible use. The survey explains how consumers just want to be sure they won’t be overwhelmed with advertisements, and that there’s a tangible benefit to sharing the information. They value anonymity, transparency, and the ability to actively opt-in. By keeping security and privacy in mind, marketers can use location data to build a competitive advantage and enhance their customer’s journey with their products and services.

 

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