Location Marketing: Why 2020 is the best time to get started.

by Nidhin C| Monday, Nov 11, 2019|02:22 p.m.

Location Marketing: Why 2020 is the best time to get started.

 

What's the best time to reach a customer?

 

“It's exactly when they need your service”

 

But how do you know if they need a service ?

 

“That is exactly why you need useful customer insights A.K.A Analytics

 

Location might be a simple datapoint to look at but its disruptive capability to generate analytics thats powerful to increase sales and improve operations at an explosive rate is indispensably clamant. 

 

Key points that seek to understand what your customer’s do, where do they spend their time, what they need and so on are the gatekeepers for a successful 21st century business. 

 

Personalisation has become extremely important for customers today. It is not enough to send customers what you think they want, it has to be something that they truly value and that action has to be made at almost instantly. Location out of all data will help you establish an engaging relationship with the customer and understand what they expect quicker and clear.

 

“Millennials have an attention span of 15 seconds and attention of the generation ‘z’ is at an average 8 seconds” 

 

Location data recognizes customers as an individual with unique needs and caters those needs to them. This makes marketing no longer a random shot, but a loyal gesture in all intimacy.

 

 

Understanding and taking advantage of Micro-moments:

 

When people reflexively turn to a device-Increasingly a smartphone to act on a need to learn something they are intent rich moments where decisions are made and preferences are shaped.:- Google

 

Enterprises need to focus on ‘To-do moments’ of customers. Actions beyond knowing customer micro-moment concerns can capture decisions but knowing what circumstances lead to these microments can establish dominion over them.

 

According to a report by google nearly one third of all mobile searches are related to location in some way or the other. It could probably be “coffee shop”, “shoe store” or anything else when they are at a particular place. These searches along with the user’s preferences and user data can be significantly utilized to take advantage and provide the best service.

 

For instance, a “coffee shop” search at 2:00 pm in a mall could be different for a 9-5 person and someone who is on vacation. One might be looking for a good place for a meeting when the other might be focused on exploring things on the menu respectively. These interpretations are what makes the change, knowing customer preferences helps to cater to them precisely. 

 

  • Start by inferring location
  • Understand intent 
  • Interpret context 
  • Be present and deliver relevant, useful and simplified content quickly and if necessary, offer a likely next step for them to follow

 

According to a 2016 Aberdeen Group report, companies that use predictive analytics are almost twice as likely to generate year-over-year customer lifetime value, which Aberdeen defines as the "consistent satisfaction of buyer expectations combined with the ability to grow client spend."

 

Customer expectations:

 

"Because customers believe that brands have access to their data, the power has somewhat shifted to the customer. They expect brands to give them relevant and timely promotions, products, or services based on their personalized data. In other words, consumers expect brands to know them."

: Jamie Thorpe, commercial director of customer experience at Kantar TNS

 

When a company is capable of anticipating what customers want, it can adopt proactive measures to keep them satisfied. Customers today are highly demanding while shifting interests daily.  According to various reports customers today are more open to sharing their personal data in return for a curated customer experience. The need to feel privileged and expectations as customers demand immediate attention.In fact a report by salesforce states that 76% expect companies to understand their needs and expectations.

 

As a key player in Location data analytics we at beCo help companies to learn their customer based on past choices as well as real time movements within the facility. Using our solutions the proximity of a customer can be identified instantly and organisations can match analytics developed to provide the customer what they need and convert interest into business.

It is estimated that 64 cents of every dollar spent in retail stores is influenced by digital content. Mobile phones being a powerful driver, organisations can focus on obtaining the right data from device location and user choices with the help of engaging solutions to make use of opportunities, serve better and grow businesses.

 

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