Power of Location Intelligence on Outdoor Advertising
Providing a good customer experience in a digital age is the top priority for brands today. Brands are using location intelligence to tackle many of the challenges related to discovering, engaging, and activating customers at the right time and place. Location intelligence provides a way to reveal relationships between data sets that might not have otherwise been obvious. As for out-of-home, applying a geocentric approach to measure advertising impact yields significantly more insightful and accurate results.
By identifying out-of-home impact zones with a focus on areas of the location and applying customized, advanced analytics, marketers can isolate the impact of out-of-home campaigns. Not only that, out of all the contexts, it’s the one in which customers engage with the most. In other words, location data is crucial for out-of-home media as it helps you choose the most cost-effective space for you and your client, get audience insights, and continues the buyer’s journey while allowing you to measure the impact and get more bang for your buck.
Location history is the raw material for data-driven OOH campaign planning and measurement. Sourced from opted-in users of mobile device applications, this data is a collection of anonymized, event-based information about the real-world places that people go.
The location once again is the missing link! This data offers a huge opportunity to create a competitive advantage while empowering businesses to make better and more actionable decisions. But the data can be overwhelming and understanding when to use what data is difficult.
In its basic form, this information is organized around three inputs: timestamp, mobile advertising ID, and latitude/longitude. It only becomes meaningful once it is given context. The latitude and longitude, for instance, doesn’t mean much until it is mapped to out-of-home inventory. The people who pass through this location are within the visibility area of one of the world’s most iconic advertising locations, Piccadilly Lights.
Location intelligence data is currently being used in a variety of innovative ways within the OOH ecosystem.
Market and Audience Insights
Geolocation data empowers the OOH ecosystem to understand what kind of people can be best reached in what locations, and when. This goes far beyond the simple age and demographic information of the past, with more sophisticated targeting based on behavioral information like amount spent at fast-food restaurants, plans to enroll in a university, and likelihood to be in the market for a new car.
Mobile Retargeting
OOH advertising works fabulously in partnership with mobile advertising both platforms reach individuals while they are on the go. Many OOH media companies are offering mobile extension programs where advertisers can identify individuals who are exposed to their OOH ads and then retarget them with an advertisement delivered directly to their mobile device. For example, advertisers are taking advantage of this and utilizing social media platforms, due to their popularity to target a wider audience.
Better Customer Experiences
Location intelligence can also be used to improve the customer experience, in turn increasing loyalty and deepening the engagement a user has with that particular brand.
It is one of the key ways of how brands can leverage location intelligence and understand the return on investment from their marketing campaigns. They can see what consumers did or went after being exposed to a billboard. Then all this information can be used in the planning stage to improve marketing efforts. With access to the right data products, marketers are able to track all of this and compare the impact of the campaign across mediums such as social, TV, email, and more. Putting OOH in a position to prove the impact of the platform in all-new ways.