Four Ways Location Intelligence Will Take Marketing to a New Level in 2019
5G is Changing the Game
Kirk Mitchell, head of tech, media, and communication at HERE technologies says that “[5G] will improve the precision of the mobile location by one or two orders of magnitude.” Anybody familiar with location-based marketing will understand that this is a massive opportunity for further narrowing down audiences and targeting advertisements.
The benefits of location accuracy that 5G brings may prove to be a driving factor in the investment of time and funds into 5G development. Leading innovators within the industry are already working to enable advanced technologies like sub-meter positioning, which can enable marketers to glean information about individuals’ precise locations– even indoors.
Having location information on this level is unprecedented; and it’ll prove immeasurably helpful to marketers that rely on a segmented audience and targeted, location-based advertising. Even small businesses stand to benefit from knowledge on this scale; advertising to local consumers will only become easier for organizations both small and large.
Proximity Marketing and Segmentation
Proximity marketing relies on the ability to market to consumers at the right place and at the right time. It often involves highly-personalized notifications and advertisements. Not only does marketing on this level increase business profits, but it also improves the consumer experience.
This wouldn’t be possible without the advancements being made in the location intelligence sector today. Marketers have access to in-depth behavioral insights when they can analyze location data; and that leads to the development of stronger and more effective segmentation practices.
Tools like geo-enrichment are now being used for a better understanding of consumers’ locations and what that information means for marketing strategists. Now, we can make assumptions about consumer behavior with knowledge of little more than where they’re at.
AI Finding Patterns
The advent and advancements of AI technology have afforded professionals from all walks of life the capability to make sense of immense data sets. We’ve always collected consumer data– but it hasn’t always been easy to use and turn into actionable insights; now, thanks to AI, we can create valuable strategies and ideas based on data we’ve had all along.
Without AI involved in the location-based marketing process, advertisers would be lost. As human beings, we can only begin to scratch the surface of technological capabilities and data analysis. This is why AI is crucial to location-based marketing and, really, any other marketing too.
Machine learning and AI technology will allow marketers to determine the accuracy of location data, which has been a pain point in the industry for quite some time. Location can be tracked through a myriad of technologies and isn’t always entirely accurate. Leveraging AI to ensure location data is as accurate as possible means more effective marketing and happier consumers.
New Privacy Concerns
All of this emphasis on tracking and utilizing location data leads, understandably, to some big privacy concerns. Addressing these concerns meaningfully will be critical to the success of location intelligence efforts within the marketing sphere.
At MAB, we believe in utilizing location technology to drive sales, improve the customer experience, and improve digital marketing trends.