2017 was a brutal year for many in digital marketing. We saw investigative journalists expose how misplaced content from household brands were inadvertently helping fund terror and criminals. Brands also started to question the veracity of the digital metrics their media agencies were reporting.
Of course, location marketing itself has not been immune to criticism. In fact, 80-90% of location data up until now has been wrong or imprecise, according to at least one leading executive in the ad industry. But this is changing. The past twelve months have seen data derived from the device build smarter profiles of customers, transforming the way we talk to them.
In 2018, the industry will work together to address these issues. As brands look to rebuild trust in 2018, here are some reasons why unlocking the value of location data sets will be key in driving change in how advertisers and brands can join the dots around the customer.
A leap forward in location data accuracy and precision
Publishers have realised that they’re sitting on a goldmine of high quality location-based data within their app-based services. Through the app, publishers can anonymously track movements and behaviours – including where users go, what they do, their interests and habits.
The transformative technology enabling this is SDKs (Software Development Kits), which is integrated directly into a publisher’s app, extracting location intelligence that is both accurate and precise to inform rich audiences.
Brands now have access to a multitude of data sets; from media data (ad serving insights, response and search data, device tracking intelligence and movement science), to advertiser data (CRM and customer journey data sets and point of interest data). The mobile device is uniquely positioned as the connective tool that joins up all of these data points, creating a new tool-kit for brands to get closer to their customer.
With more powerful data, we’re also seeing advertisers get really creative. From tap-to-map, to dynamic weather creatives, location data provides the insights to trigger powerful designs, and memorable experiences within premium environments consumers love. Starting with quality mobile location data enables you to start thinking about the device that’s always with the individual, to be strategic about how you use that data, and smarter about how you talk to them in the right context.
Measuring offline actions
The uniqueness of mobile is also helping bridge online and offline worlds. It’s the only device that moves with the user throughout their entire daily routine – and pinpoint key actions and interests throughout the day to join the dots around the consumer.
Every movement, action, and behavioural influence is captured through these data sets, allowing brands to accurately measure a consumer’s activity, using footfall measurement - whenever they invest in media campaigns to drive sales.
Consumers have raised the bar in terms of the personalised experiences they demand from advertisers: location targeting is uniquely placed to allow brands to deliver against this.
Spend on location-targeting is forecast to grow from $12.4 billion in 2016 to $32.4 billion in 2021. I have every confidence that the leap forward in the accuracy and precision of location data will mean this forecast is met, if not exceeded.
Ian James, General Manager, International, Verve.