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Location Intelligence is improving geomarketing as it adds the geospatial background required to transfer conversions from interested parties to purchase plans.
FREMONT, CA: Innovations in geomarketing are accelerating today with the aid of Location Intelligence. Although historical data on purchases or searches can infer market interest, Location Intelligence adds the geospatial background required to transfer conversions from interested parties to purchase plans. Mobile location data discovered by Forrester in 2017 helped digital marketers increase conversion rates by 60 percent and increase campaign ROI by 68 percent.
Location audience segments
Although 90 percent of retailers can decide when consumers visit their websites, only 68 percent know when customers browse brick-and-mortar store locations. But that figure decreases even more, when it comes to the number of retailers willing to attribute online ads to store visits.
Location audience segmentation provides a way to reduce the omni-channel loop while allowing retailers to connect online campaigns to store visits. By integrating Location Intelligence and mobile data to research past customer visits to a particular store location or other points of interest, robust new solutions such as Vodafone Analytics can help create location audience segments. A valuable indicator from which other attributes can be derived and then assisted with additional data sources for the demographic, spatial, and economic position is a customer place of origin in geomarketing.
See Also: Top Martech Solution Companies
Behavioral audience segments
Consumer segments decide who to target based on demographic characteristics, but behavioral consumer segments classify target markets based on what they do. In order to conduct a wide range of operations, including booking reservations, scheduling personnel, and customizing services depending on the type of visitor, the tourism industry is dependent on behavioral customer segmentation.
Since it is predicted that the seventh-largest export industry is worth £ 127 billion, tourism is a significant engine of economic growth in Britain. The national tourism agency, VisitBritain, is responsible for creating international marketing campaigns that increase the volume and value of inbound visits. As such, VisitBritain must provide:
• Identify the position of high-value global markets
• Assign budgetary resources to countries of origin where the majority of travelers invest