How mobile advertisers use location data — achievements, outcomes, challenges, and benefits.
Mobile is now nothing short of central to consumers’ lives. It informs, inspires, and illuminates shoppers’ demands, desires, aspirations, and where, when, and how consumers engage with every brand that works to reach them in the digital space.
How are advertisers meeting the challenge of using location data to drive meaningful and memorable experiences?
Pursuing The Mobile Moment, a June 2017 commissioned study conducted by Forrester Consulting on behalf of Verve, presents new research into how mobile advertisers in North America use location data — how it informs their advertising efforts, what challenges they face, and what benefits they receive.
This new study includes key findings such as …
- Location data both increases ad relevancy and drives consumers in-store. 74% of surveyed brands recognize location’s value in increasing the relevancy of their messaging specifically to deliver on “mobile moments”—the moments when consumers receive information in context and in their moment of need. Additionally, nearly half the respondents value location data’s usefulness in driving incremental in-store visits.
- Focusing on location-based marketing efforts has helped mature companies increase ad relevancy. Organizations that both matured their mobile marketing and focused their use of location data on location-based efforts are more likely to increase the relevancy of their ads served to consumers. In addition to increased relevancy, these more mature organizations experience increased targeting efficiency, ROI of their marketing technology investments, and overall brand awareness.
But still …
- Many advertisers struggle to use insights to contextualize consumers. 38% have difficulty contextualizing historical insights about consumers and are unable to target them granularly (37%)—indicating that they are not able to take advantage of the unique characteristics of mobile in the effort to truly maximize the advertising value for the consumer.
What’s clear is that the advertiser’s quest for robust location-data strategies and results is already underway. For a fuller picture of the moves brands are making — highlighting successful outcomes and the challenges they still face — download the full study below.