Location data is lighting up the marketing world in a big way. Facebook, Google, Yelp, Instagram, Groupon, Twitter, etc., now offer apps with location data features– with good reason. Mobile location data is a proven powerhouse when it comes to both engagement and target marketing.
However, location data is not just about reaching consumers in the vicinity of participating businesses (typically small and medium-sized.) Capitalizing on the phenomenon requires addressing a number of important questions. Only after the answers are known can businesses formulate an effective strategy. Here are some key questions brand marketers should ask early on:
1. Where are you getting data about specific places of business and the real-world coordinates they occupy?
2. Are you personally doing the info-gathering, or is an outside supplier your go-to source?
3. How are you mapping out designated coverage areas? Two popular choices are polygons and geo-fences.
4. Is your data accurate? It is one thing to know that a pet shop is located on a certain city block. Quite another to know said pet shop is sitting at a specific spot on the block.
5. Are you getting full coverage? Half? The number of businesses that get ‘caught’ in your data net depends on a variety of factors.
6. Do you have effective filters in place? Like it or not, your location data will turn up faulty addresses now and again. Sometimes it’s a technical glitch. Other times, a particular business has simply shut its doors. Obviously, brand marketers should harness available filtering resources to minimize inaccuracies such as these.
If you have any questions or comments about using location data to enhance your marketing efforts, or about any brand-related topic, feel free to send them our way. You can connect with the Young Company team at 949-376-8404 #4033 or bart@youngcompany.com. And be sure to follow us for the latest brand marketing news and tips.