For 71% of consumers in Asia, smartphones now form an inherent part of the shopping experience. Beyond online shopping, consumers are using mobile internet to research products, features, and brands on the go. They are also deal hunting online even when they are inside a physical store. Simultaneously, despite the staggering rise in e-commerce, over 90% of purchases still happens offline. Simply put, consumer behaviour and buying journey is more omni-channel than ever before. Therefore marketers are quickly realising the importance real-world insights powered by mobile-led location intelligence. With it, they are uncovering a brand new set of capabilities for every stage of the marketing lifecycle. From targeting to measurement, these new capabilities are making marketing functions more sophisticated.
Here are three ways in which location is creating more value for brands, retailers, and marketers –
1. Leveraging real-world consumer insights for better cross-platform marketing
The omni-channel buying journey means that marketers must combine consumers’ offline behaviour with online footprint for truly insight-driven marketing. Earlier, personalisation and contextualisation of marketing messages was limited to the online behaviour or plain vanilla demographics. But location intelligence is helping marketers uncover a new set of behavioural data. It is also revealing insights on where customers are most likely to engage with marketing and take desired action. This has resulted in greater levels of personalisation and contextualisation across all marketing touch points.
Many of our clients across sectors are already refining their cross-platform marketing strategies using Lifesight Insights platform. More recently, an automotive brand’s launch campaign included hyperlocal ads resulting in a click-to-visit ratio of a staggering 55%.
2. Scaling reach by discovering new audiences
Location intelligence enables this in two ways. First, it allows marketers to access location-based segments built on real life interests, affinities, and purchase intent. It also helps uncover where potential consumers work and live, which brands they are loyal to, affluence levels and more. This is the thinking that has gone into building our Lifesight Audiences platform. It allows brands to create the best audience segments for specific product categories and campaigns. For instance, a boutique jewellery brand used Lifesight Audience to enrich its existing customer data. This helped bolster the brand’s customer segments with individuals who were potentially in the market for trousseau shopping. In just one week of using Lifesight Audiences, the brand received 200 new and unique shoppers at its outlet.
3. Stronger O2O marketing measurement frameworks
Even as all sectors gear up towards ROI-driven marketing initiatives, ROI measurement is far more complex today. Digital continues to command increasing ad spends. In 2018 alone, digital will form a staggering 45% of total ad spend in the Asia Pacific region. Despite the high stakes, marketers are still measuring digital ad spend with intangible metrics like cost per click. But with over 90% of purchase still offline, store footfall is a much stronger indicator of digital campaign effectiveness. Lifesight Attribution bridges this exact O2O marketing measurement and attribution gap. With it, brand marketers from around the Asia Pacific region are transforming campaign measurement and optimisation. They are adopting real-world metrics that make sense for their business.
Clearly, location intelligence is disrupting all aspects of consumer insight and marketing. Location is transforming the very notion of omni-channel experiences and consumer- and insight-centricity among new-age businesses. Brands that ride the location wave will be at the forefront of the impending omni-channel retail revolution. Do you want to be one of them? Shout out for a demo; let’s get to work!