A study by mobile location technology company Blis and WBR Insights surveyed 150 CMOs, heads of marketing and agency directors from travel, retail and consumer goods brands across 11 Asia-Pacific markets.
They found that 55% of the marketers surveyed shared that they are already doing using location data for out-of-home buys (67%) and TV adverts (63%). In addition, 58% mentioned their preference for using a first-touch attribution model while 42% opted for last-touch.
Investment in paid location-data based advertising has also increased: the highest range of spend was between US$10,000 to US $50,000 at 31%, compared to just 25% spending less than US$10,000 and 11% of marketers who didn’t prioritise any spend on it at all.
But 21% said they spend US$50,000 to US$100,000 on location data and 11% claimed to spend above US$100,000.
“Location data technology has advanced in leaps and bounds over the last few years and we’re now seeing marketers commit more spending than ever to highly innovative and engaging campaigns,” said Blis Ceo Greg Isbister.
Marketers in the region have tapped into the versatility of location data to improve conversions, analyse campaigns and provide a deeper understanding of business performance:
- 53% of marketers directly target competitor stores through geo-conquesting
- 51% win over shoppers with geofencing
- 48% chart the correlation between store traffic and sales
- 43% track return on advertising spend (ROAS)
- 42% target shoppers based on online and offline behaviour data
- 38% gain insight into store location performance
- 35% use location data to close the online to offline attribution gap
The report noted that concerns about the lack of established standards, metrics and guidelines can be addressed by setting new KPIs to help marketers measure the success of new location-based mobile data marketing campaigns.
“This is where marketers will have to be braver and strike out on their own, based on their individual brands and retail targets,” it stated.
One suggestion was to think of location-based mobile data as simply another avenue for all e-commerce marketing. “Adapting current e-commerce metrics and KPIs to include location-based data will help marketers to measure success and to ultimately create their own unique guidelines for their campaigns using location-based data.”
Sourced from Blis; additional content by WARC staff