How Organizations Use Location Intelligence to Gain a Competitive Advantage

A new dawn and a new step into the digital era for marketing has come into form today in the way of Location Intelligence. It has emerged as a victor for retail businesses looking to effectively target customers with more precision with Return On Investment (ROI) in mind as they can today, more than ever, know who is more likely to be interested in their services by using data consented to by their buyers with mobile advertising ID (MAID) number that is unique to their mobile device without ever knowing their personal details. Revealing inferences can be made from just knowing at which commercial locations the shopper has been taking their business by honing into the interests, activities, and habits of consumers who have consented to share their data.

If only businesses could find customers for whom they are a perfect fit. They can now.. Enter this new dimension of insightful data into the mind of the customer where you can use this to analyze and grow your business smartly by taking well-informed decisions. Today, there are many location intelligence companies around the world that help businesses gain data.

With the data of knowing where a consumer goes to work every day and their habit of picking up coffee and, say, a breakfast bagel on the way, at your disposal, you can market your coffee shop to them if they are in the vicinity.

Armed with the knowledge that a patron frequently visits cafes, restaurants, or clubs in the city after office hours or on the weekends, their businesses can present their establishment knowing how far they are willing to drive, what cuisine they prefer, where people with similar profiles like to eat too and their company of friends they frequently go out with. Discounts, coupons, and loyalty programs can be offered to gain trust to attract them, get recognized, and then make a personal relation like never before.

A local business can buy data sets of consumers for their niche and target the right customer. They can also get to know who buys from their competition and analyze how they can make their services more favorable to convert this audience into their own. In this way, Location Intelligence also helps new product development.

By knowing where a consumer lives and buys their groceries, a local store can advertise themselves to the people who are primed to buy from them by perhaps offering incentives like free delivery and loyalty programs, thus making customers that buy from them regularly whenever they need their services while offering the user a better, simpler shopping experience.

In this way, businesses can get to know the right customer while building a relationship based on previous, present, and the coming future experiences with them while working on how to offer more value and quality for which they have data they can use to strategize a new level of customer relationship and also support better can convenient to stand out from the competition.

Conclusion

Location Intelligence is this confluence between online and offline worlds connecting two spheres that were previously distinctively apart and in competition with one another. Now, offline businesses have an amazing tool to help bridge the gap and have their own stakes in the online world, which is widely recognized to be the future so they can too be part of the exciting times ahead. There are many location intelligence companies that are working on various innovations to make location intelligence more useful.

With this opportunity and the prospect of the availability of prospective buyers who are absolutely within the range of your business, right at your doorstep, is a crucial make or break for converting sales by making effective personal endorsements in the way of colorful and vibrant multimedia display of wares that catch the eye and capture their imagination and instill, exude the enthusiasm to make the customer want to enter their doors.

A Passionate writer with a great interest in technology. Loves to write and learn more about the latest developments in the tech industry.