The Explosion In Local-Mobile Data Is Rewriting The Rules For Marketers

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The Marketing Metrics Continuum provides a framework for how to categorize metrics from the tactical to strategic. (Photo credit: Wikipedia)

English: A business ideally is continually seeking feedback from customers: are the products helpful? are their needs being met? Constructive criticism helps marketers adjust offerings to meet customer needs. Source of diagram: here (see public domain declaration at top). Questions: write me at my Wikipedia talk page (Photo credit: Wikipedia)

 

BII

The check in is on the way out. But apps that use mobile location data are only becoming more popular.

Providing a useful service that encourages data sharing is the key to a successful location-based strategy. It is also the formula for creating a valuable, ad-supported app, as marketers seek information to power hyper-personalized, targeted campaigns.

In a new report from BI Intelligence, we look at how location-based services have changed, what services are doing the best job of enticing users to share their location data, and other data like preferences and habits, and how marketers can then take that information and put it to use for hyper-targeted campaigns.

Here are some of the report’s key findings:

• Location-based services enjoy widespread acceptance, but adoption isn’t growing. Seventy-four percent of U.S. smartphone owners say they use mobile location-based services. That percentage is flat compared to last year.
• Check-ins are becoming passé. The percentage of U.S. adults who reported using local-social networks to “check in,” decreased from 18% in February of last year to 12% this year.
• Apps like Life360 and Waze prosper because consumers feel like they’re getting great value out of sharing not just their location, but other information too.
• Research increasingly supports the notion that local apps and advertising leads to in-store purchases. Mobile-local campaigns allow marketers to nudge customers down the purchase funnel, and “close the loop,” with in-store foot traffic and purchases.
• Geoaudience profiling, geoconquesting, and hyper-local in-store campaigns are three primary strategies used to segment audiences and target consumers based on location.

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In full, the report:

• Examines how location-based services have changed now that the check in is on the way out.
• Considers those apps that have done the best job offering a service to consumers and getting them to voluntarily share their information.
• Puts location-based services in the context of mobile in-store shopping among consumers.
• Unpacks the three main campaigns associated with mobile-location marketing.
• Looks forward to emergent trends toward hyper-local targeting, in which retailers use Bluetooth technology and mobile payments in stores.

Read more: http://www.businessinsider.com/location-tech-powers-new-mobile-industry-2013-11#ixzz2lEOuXhKU

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