Personalization and geotargeting have become integral parts of any marketing approach that hopes to connect with potential customers and audiences. Throughout the year, marketers have come to realize this, and they are using location data as a big part of this strategic shift. A study from mobile location analytics firm Factual examines these changes, particularly as they related to mobile.
A big part of the change is related to companies simply becoming more familiar with mobile over time. 96 percent of brands and 90 percent of agencies surveyed saw location data as critical or important to their strategies.
Vikas Gupta, vice president of strategy at Factual, told SocialTimes that marketers need to keep up:
Figuring out mobile has to be a top priority … Marketers that are increasing their spend demonstrate more confidence and more sophistication versus those who have minimal spend in mobile … Those who may not perceive that mobile is critical for them are missing out on how an understanding of mobile can improve their ability to execute in different advertising media, as well as in broader business functions.
There are still some major areas of concern for marketers and agencies when it comes to mobile, including data quality, transparency and vendor differentiation.
40 percent and 34 percent of agencies and marketers, respectively, are concerned about the quality of location data. And they have every reason to be when Factual’s research indicates that as much as 70 percent of mobile location data in the ad ecosystem is not specific enough for targeting. A lack of transparency seems to plague the ad industry, and it’s no different for location data. Marketers report having a hard time understanding how this technology serves them.
Vendor differentiation has similar problems, as marketers and agencies don’t have a shortlist of best practices in location data collection with which to compare vendors. Everything from sources of data to collection methods and the frequency of data collection should all be key concerns when searching for location data technology.
For more information, download the full report.
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