With everything from voice search to omnichannel ad targeting changing the way brands attract holiday shoppers, the use of location data to make the connection between brick-and-mortars and consumers.
But figuring out the best ways to use location data remains an issue. While retailers pay attention to online browsing patterns, consumers still make the majority of purchases in stores, and how they move in the physical world influences their path to purchase, notes Ocean Fine, VP, Agency and Strategic Accounts at geo-data specialist Factual.
One of the things that location data does best is find the unusual shopping patterns of mobile consumers so that brands can anticipate who, when, and where shoppers might be more receptive to a geo-targeted ad.
Among the things Factual found at the start of the holiday shopping season:
- 3.6 percent of Target customers visit a Starbucks before, while 6.3 percent visit a fast food restaurant
- 4.6 percent of Walmart customers visit a gas station, while 4 percent visit a Walgreens
- 9.9 percent of Macy’s customers visit a clothing and accessories retailer
“This kind of data could help retailers understand where they should focus ad dollars — Walmart could advertise deals at gas stations, or Target could partner with fast food restaurants,” Fine says.
Ocean Fine: Per Adobe, Black Friday and Cyber Monday 2017 were among the highest sales days of all time – definitely a strong opening for retail! What remains to be seen is how sales will hold up throughout the season and, most importantly for brand marketers, how well their campaigns perform to drive people to purchase, both in store and online.
What does this data say about affinities between brands in terms of being able to reach a store’s likely shoppers before they’re in a retail location?
Understanding where shoppers go before and after they visit particular stores, as well as their brand affinities, helps marketers paint a more complete picture of their habits and interests, and better design advertising experiences that will elicit a positive response. Messages that are personalized and make sense in context are preferred by consumers, and a clear map of the consumer journey allows marketers to create them.
Are there any particular ways that retailers should look at location/mobile data when trying to figure out when as well as where its best to reach potential customers?
Mobile is a primary point of purchase for consumers, now more than ever. Using location-based behavior data combined with the insights derived from mobile purchase behavior, retail marketers can understand the entirety of the path to purchase, allowing them to tailor relevant content and achieve the marketing trifecta, targeting the right consumer, with the right message, at the right place. Marketers are able to see patterns in their consumers’ place visits over time, make inferences about their interests and build custom audience segments to ensure they’re reaching those who are interested.