Location-Based Digital Marketing Strategies
As of 2017, $17.1 billion dollars of all digital advertisements use location-based targeting and this is expected to increase to $38.1 billion through 2020. Geographic targeting is a valuable media strategy for organizations seeking to find new and returning customers. Improvements in behavioral targeting will allow advertisers to target ads to users most likely to make a purchase following a pattern or history of taking an action.
Beyond targeting a specific demographic area, city or zip code, there are several strategies that can be used to acquire new customers. For example, a Mexican quick-serve restaurant saw a 67% lift in sales by targeting the previous customers and surrounding areas of its direct competitors and casual Mexican restaurants in the demographic area. Finding and conquering points of interest to consumers is a powerful tactic that will generate results for most businesses.
The triangulation of your location-based data can make or break a location-based marketing campaign. The most accurate geo-targeting experiences are available using mobile-apps from publishers and social media companies such as Turner Media, ESPN, Facebook, Twitter, and others. Check out this list of the five most accurate location-based marketing channels:
- Mobile Apps – Data maps back to a smartphone’s mobile advertising ID (MAID)
- Social Media – Users opt-in and voluntarily share their location information to the service
- Mobile Web – Requires working with a data management partner to do cross-device matching
- Desktop – You can match a user who has signed into a mobile application
- CTV / Direct Mail – Targeting users who have been exposed to a mobile campaign to their Smart tvs or direct mail
The future of location-based targeting is bullish. Enterprises who develop location-based acquisition strategies will have the upper hand as consumers spend more time on their mobile devices. Americans spend 133 minute in mobile apps every day. Translating the real-time and historical location data into actionable insights will become a cornerstone of digital media campaigns. If your business is struggling with advanced targeting, True Media can help you execute efficient location based marketing campaigns that will grow your business.