The value of Location Intelligence for Retailers

Marketing for a Target Audience

Some retailers may find that they have certain busy periods and slow periods throughout their day-to-day. While the busy periods are great, the slow periods are less than desirable. When the slow periods happen it is a good idea to have an arsenal of marketing tactics tucked away to entice people to come by your store. A great way to go about this is by using location intelligence.

Marketers need to stay ahead of the competition by using geospatial information gathered from their targeted audience to understand their shopper's behaviors and needs. When a shopper has provided consent, data related to location is collected from the shopper's smartphone providing information such as dwell time, the frequency of visits, and what device they are using during their visit. This data can be used to create ads that can be targeted to the customer to see at the right time and location in their shopping journey.

Using Location Data for Marketing Purposes

Location intelligence for retailers can mean the difference between having an alright marketing strategy and an awesome marketing strategy. If location is taken into consideration and marketers use the information that is collected from the shopper's smartphones, then they can determine what ads are relevant to each shopper and at what times. For example, let's say that a person who has been frequenting the shoe shops throughout the mall is potentially looking to purchase a shoe that day. If you are a shoe retailer, an excellent strategy would be to set up a location-based advertisement around competitor stores and in close proximity to your own store. This way if a shopper enters a competitor shoe store and sees your ad for 15% off all sneakers, they will likely be inclined to leave and check out your sale price instead. How do we set up an advertisement at a competitor's store you ask? This is possible through something known as geofencing.

Using Geofencing for a Smart Marketing Strategy

To set up a geofence one must have a digital indoor map software that supports location-based analytics and a marketing platform. In the most simple terms, to create a geofence one must use the software to draw a virtual edge surrounding whatever property they want the ad to be triggered at. The utilization of a geofence is called geofencing, and one illustration of utilization includes a shopper entering or leaving a geo-fence. Using the shoe store example, one could draw a geofence around the competitor store and create an advertisement "trigger" when the shopper enters the store, showcasing that your own shoe store is having a sale. You can also place a geo-fence around your own store so that people entering the store and passing by will be notified of the sale as well.

Build Brand Awareness

Not only does location-based intelligence for retailers help businesses entice customers to their stores, but it can also help instill brand loyalty and awareness. With an educated and timely marketing strategy, brands are etched into shoppers' minds as they are presented with the store's advertisements. Making space for location intelligence does more than just target customers at the right time and place, it allows for your brand to get recognized when it matters most. A personalized shopping experience comes down to how and when individuals are marketed too. Serving relevant and time-sensitive ads builds trust and loyalty with shoppers without them even realizing it. Taking the time to get to know potential and existing customers through location-based analytics allows marketers to get closer to achieving conversions and establishing a positive brand image.

A content and affiliate marketer with a passion for learning about the latest developments in technology. Loves to read books and write articles on various trending topics around the world.