4 Minutes With Luise Weiss: Leveraging The Power Of Location Data
To be truly effective, brands and businesses have to adapt advertising to the individual. For companies grappling with the challenge of delivering the right message to the right consumer in the right context, one ground truth stands out as a guiding light: where you go defines who you are. Music fans will congregate at concerts, sports enthusiasts will gather at stadiums, and shoppers with high intent can be found within the vicinity of stores and malls.
Indeed, humans are creatures of habit, and brands able to pick up on consumers’ movement patterns are able to harness an abundance of additional actionable data points they can use to make the match between audiences and advertising. Luise Weiss, VP of Marketing and Global Revenue at AdSquare, takes the mic in this “4 Minutes With…” episode to tell businesses how to deliver the right ad in the context consumers will genuinely appreciate. What’s more, she outlines new innovations in Out-Of-Home (OOH) advertising and mobile mega-trends advertisers need to know to create precise, connected, and integrated campaigns.
Watch Luise’s full four minutes below.
Three Key Out-Of-Home Trends
According to the World Out Of Home Organisation, worldwide OOH ad revenue is forecasted to exceed $40b in 2023, with a further growth of 5% from 2023 to 2024. To realise the full potential of this format, Weiss advises advertisers to pay close attention to these three trends shaping OOH today.
Digitisation
“[DOOH’s] flexibility and dynamism while maintaining enormous reach” makes it a popular choice for data-driven advertisers, Weiss says. And she has the numbers to back it up. The 2023 VIOOH State of The Nation Report predicts programmatic Digital Out-Of-Home’s (DOOH) market share will rise to 39% in the next 16 months. DOOH also enhances the effectiveness of other marketing channels. WallDecaux research reports Burger King increased brand recall in mobile ads by 133% by integrating DOOH into its marketing mix.
Personalisation
As OOH advances, so does advertisers’ ability to create personalised customer experiences and perform real-time campaign optimisation. Brands can now harness location data to target specific customer segments, identify the channels and offerings that resonate best with each individual, and, ultimately, optimise budget allocation. Now, “we can target based on location, behaviour, and context like every other marketing channel,” Weiss explains.
Integration
“OOH is integrated into the marketing mix now more than ever,” Weiss says. And for good reason, according to the numbers. A 2020 study by the FAW reports advertisers who add OOH advertising to their mix can increase campaign sales by up to 98%. While a siloed strategy once paid off, today’s profitable advertisers adopt a holistic approach to defining, targeting, and engaging with audience segments.
Advertisers’ Tools To Tackle Audience Targeting
The benefits of embracing location data are clear. But understanding the path forward isn’t always obvious. The good news is Adsquare’s solutions offer advertisers understandable and actionable insights into customer behaviour, so you can easily unlock the power of location intelligence.
Launched in 2020, Adsquare’s Audiences in Motion allows advertisers to target a specific group on a specific day and at a specific hour or location without the need for IDs. “It’s a movement behaviour prediction engine,” Weiss explains. “We combine our mobile audience data with SDK-derived location data” to provide real-time targeting and optimisation.
For retail businesses, the insights go even further. Adsquare recently took the wraps off Audience Analytics. The new tool equips stationary retailers with features like footfall tracking and geospatial visualisation to understand their audiences better and gain a competitive edge.
“This gives you a completely new perspective on targeting,” Weiss says. “It’s going to change the way you plan campaigns.”
