Accurate versus precise location data: why marketers need both to create smarter consumer segments
Location data needs to be both accurate and precise for it to be effective. But most marketers cannot tell the difference between the two. In the second episode of Everything You Need to Know (EYNTK) about location-based advertising, Ian James, general manager international at Verve explains how to bring them together.
Consumers carry their mobile devices with them everywhere. This provides marketers ample opportunities to target them with personalised messaging across different phases of the day. But if a marketer wants to distinguish between a mum and a city worker, the location data needs to be both accurate and precise so brands can start targeting individuals rather than mass audiences.
In the video, James explains how to distinguish between accurate and precise data. He also reveals how precision brings granular intelligence to accurate data, enabling marketers to build up accurate assumptions about consumers based on the data over time.
“Accurate and precise location data is at the core of all audience builds. Great location data can be overlaid with other data sets. Points of interest, CRM, and demographic data. This enables brands to target great audiences at scale,” he says.
Catch up on last week’s episode here as James outlines the opportunity behind location-based advertising.
Next week’s episode will examine the importance of deriving quality location data for targeting purposes. Sign up to our newsletter to ensure you do not miss the next episode in the series.
Other episodes in the series
Marketers need to upgrade how they derive location data: Everything You Need to Know series returns
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.
The source is everything: how marketers can distinguish between good and bad location data
According to research by Forrester and Verve, a quarter of marketers said there is not enough clarity on the sources of collected location data. In the third episode of Everything You Need to Know (EYNTK) about location-based advertising, Verve’s general manager international, Ian James explains the best way to derive location data.
How location data can bridge the digital and offline gap
A big challenge faced by marketers is bridging the customer experience across physical stores and digital channels. In the penultimate episode of Everything You Need to Know (EYNTK) – About Location-Based Advertising, Verve’s general manager international, Ian James explains how location data can help minimise this gap.
Mind the gap: How location data bridges the digital and offline customer experience
Tracking customers across digital and offline channels is a huge challenge for marketers. Especially when the customer journey continues to be rather complex since, first, the advent and rise of digital shopping and buying, and, more recently, the same phenomenon on mobile devices, while trying to unite disparate data sets to provide a single customer view across channels.
Joining the dots around the consumer: The future of mobile location data
In the last few months, The Drum has been on a journey with Verve in the back of a London cab exploring the ins and outs of location data. In the final episode of Everything You Need to Know (EYNTK) About Location-Based Advertising, Ian James, general manager international at Verve, explores the future of mobile location data intelligence.
The future of location data: how will brands adapt to consumer expectations?
If location data lies at the heart of personalised experiences, how can brands use data to join the dots around the consumer? In the final installment of a five-part series from The Drum and Verve on Everything You Need to Know (EYNTK) About Location-Based Advertising, we explore the future of mobile location data intelligence.