'Let's get Physical': What's Physical Location Intelligence got to do with Digital Marketing?

'Locate' the changes after the pandemic

Digital marketing allows you to identify and target a highly specific audience, and send that audience personalised, high-converting marketing messages. When we speak about Alternative Data we know that it focuses on User-Generated content such as product reviews, social media updates, and customer service chats. Marketers need to go both broad and go deep at the same time. Adoption of Alternative Data tech into Digital Marketing leads to effective reach and communication to the customers.

Leveraging Location Intelligence

One of the most celebrated cases of data-first marketing is Amazon’s product recommendation system. 35% of Amazon.com’s revenue is generated by the recommendation engine. Data points such as customer buying behaviour, browsing history, past purchase and more are elemental in upselling and cross-sell. Since alternative data for example physical location input is collected from actual users, it has taken the guesswork and assumptions out of marketing.

Location data can reveal a trove of information about a customer’s daily travel routines (such as commutes), recurring shopping habits (like grocery shopping or gas station stops), restaurant preferences, and even online-to-storefront purchasing behaviour. The data allows for more personalized targeting for the products and services customers might care about and enables more efficient ad targeting and budget allocation for marketers.

Investment in geo-targeted ads is growing at 40%, making it one of the fastest-growing areas of digital marketing. Having efficient tools backed by the latest AI technologies for data analytics under your belt will give you the edge.

In particular, customer location data has emerged over the last decade as a wealth of information for marketers, providing a digital footprint of where customers are spending time and how they interact with brands — both online and offline. From offline attribution to geo-targeting, location data can help marketers understand the bigger picture of the customer journey.

There are more markets for different kinds of things. And all of these things are advertised differently: On Instagram, on Twitter, on dedicated websites, on streaming platforms, on podcasts, and so on.

To natively advertise for specific consumer segments on these platforms, you need different kinds of talent, and an innate understanding of the platforms themselves. You need influencers and taste-makers; you need specialisation of a sort that is still finding its feet. Even at the edges of this shift, everything is not clear yet. Aligning with the same market demand as well as changing how people buy such as social commerce, group buying, live streaming purchase, there sure is going to be a change in the way digital marketing is approached. One thing is clear though, there’s a greater and more critical role today for real-time data in the marketing and advertising space.

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