The Drum’s Everything You Need to Know (EYNTK) series is back, discussing the opportunity behind location-based advertising, in partnership with location-based marketing platform Verve.
Location data has been around for a long time, but are marketers and advertisers utilising it to its full potential? In the first episode of a brand new series exploring how a consumer’s real-world behaviours can be used to target them more effectively, Ian James, general manager international at Verve explains why the opportunity is ripe for location-based advertising.
By understanding where a consumer’s mobile device has been, marketers can build up a much deeper and richer understanding of who that consumer is, explains James. But he says it is crucial to start with first-party data – which he describes as embedding a small piece of code or SDK into the device to see where it moves over time.
As he explains in the video: “All of this is pointless if you don’t start with the right data. If I can be sure of where you have been, then there are lots of other data sources that can be used to enable advertisers to build a much deeper understanding of who the consumer really is.”
Using location data is a big challenge for marketers. According to Forrester’s research of digital marketers in North America, commissioned by Verve, 34% have a problem with inaccurate location data, while 33% struggle with understanding how to use location to deliver relevant messaging.
The new series follows the success of The Drum’s Everything You Need to Know video series on content marketing, programmatic, and data and customer experience.
It has been developed by The Drum to give agency executives and marketers an easy introduction to the latest technologies and insights in the industry. Filmed in the back of a London taxi, each episode in the five-part video series gets marketers up to speed on location data in a few minutes while they are on their way to work or a meeting.
Future episodes in the series will tackle the differences between exchange data and SDK data, bridging the digital and offline worlds, and the future of location-based advertising.
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Catch up on all the previous series here.