Check-in app company Foursquare ? known for forecasting iPhone sales more accurately than Apple itself ? recently predicted US fast-food chain Chipotle?s sales would fall 30 per cent based on mobile location footfall data with uncanny accuracy.This type of data is recorded when app users actively check into a venue or passively share their location via their smartphone. Mobile is now an integral part of the retail experience even when shopping in store ? for example, 60 per cent will use mobile store locators and 72 per cent will research products before purchase ? so mobile location data is an accurate way to determine where shoppers are and what they are doing. Footfall prediction using location tracking can help retailers accurately predict their financial future, foreseeing troubled times before they arrive or ? conversely ? highlighting positive trends that can be exploited. In addition to predicting profitability and warning retailers of twists and turns in the road ahead, mobile location tracking can also deliver the tools companies need to turn their fortunes around. Optimising messaging by location The contextual relevance of an ad can mean the difference between an engaged or irritated consumer, and mobile location data can help retailers tailor their messaging to the consumer?s whereabouts. This could mean serving ads in the right language or currency for that location, adapting creative to regional weather signals or real-world events, or delivering special offers and directions to local stores. This is best achieved using dynamic creative optimisation (DCO) where marketers create a single campaign with messaging that can be adapted in real-time according to a wide range of variables, including location. Measuring mobile advertising Online and offline should no longer be viewed as separate entities but converged elements of the consumer journey. This is because online activity frequently impacts offline purchases and vice versa. The difficultly with this cross-channel approach is measurement, as linking the various touch points the consumer has been exposed to can be problematic. Mobile location tracking provides one solution and allows marketers to accurately measure the impact of mobile marketing campaigns on offline visits. Brands can establish how likely a consumer is to visit a store without viewing any advertising and then compare this with their likelihood of visiting after viewing a mobile ad. They can take this further by measuring the difference in likelihood of visiting between those who just saw the ad and those who engaged with it by clicking or taking a similar action. These actionable insights can be fed back into mobile campaigns to optimise performance and maximise ROI.
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A great example of mobile location can be seen as people across the UK are being paid to play Nintendo?s Pokemon Go.
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