Blis, the advanced location data technology firm, has released a whitepaper featuring insights from six leading retail brands. The paper, titled Transforming Customer Engagement with Location-Based Technologies, explores the latest thinking on how retail marketers leverage location data to bolster their marketing strategies.
Published in association with WBR, the report is a peer-to-peer guide that unlocks insights from marketing executives at Verizon, Microsoft, Coca-Cola, Best Buy, DSW and Chili’s, along with case studies on location-based marketing campaigns run by Blis for Sony, Canon and Jaguar.
Business of location
The findings analyse the business value of location data: from the importance of measuring foot traffic, to the marketing and revenue potential in combining location data with other datasets and new technology.
Brands highlight how advanced location data capabilities, such as machine learning and predictive analytics, are helping them boost foot traffic in cutting-edge ways.
“What I’m really excited about is the convergence of these technologies – location services, voice services, AI, or your smart home solution. I think once there’s an established standard…you’ll see things that you couldn’t have imagined,” said David Garcia of Verizon.
A question of faith
The report also demonstrates the faith brands place in the power of location data to drive foot traffic through advanced targeting.
As Microsoft’s Shish Shridhar says: “Driving foot traffic is a big part of using location data…the bottom line is really to create micro-segmentations of the customers and then target them.”
Four of the six contributors emphasised that location data’s greatest strength is its ability to drive and measure foot traffic.
DSW’s Beth Rick highlights the importance of personalisation with location data, by using it to “send a meaningful message where [consumers] are and about whatever content is interesting to them”.
This view was echoed by Coca-Cola’s John Carroll, who said brands must communicate with consumers in a way that is “contextually” relevant.
Recommendations to come out of the report include the need for companies to assess the value of location data, how it can be leveraged for their own business objectives and how best to engage with their customers.