It’s a pleasure to share the IAB’s Location-Based Marketing Playbook for Retailers, developed by the IAB Mobile Location Working Group with contributions from Factual, Google, Foursquare, The Weather Company and more.
Alongside other members of the mobile advertising ecosystem, this report helps retail marketers leverage mobile location data to better serve customers.
Location, as you know, is a critical data point for marketers—especially given that mobile devices are now the most intimate devices we own, with us virtually all the time. (Think of location signals as “cookies” for the physical world.) Because of this, it’s a great tool for addressing prospects in a relevant way.
Location-targeted mobile ad spend is expected to rise from $9.8 billion in 2015 to $29.5 billion in 2020. In the report, you’ll find a number of best practices from major retail brands like Elle Magazine and Urban Outfitters, geared to revolve around four major consumption stages: consideration, evaluation, purchase and loyalty.
Here’s a glimpse of what you’ll learn:
- 90 percent of shoppers never stay on just one device when making a purchase (per Google), making cross-channel marketing more important than ever.
- Incentive-based messaging—sent before a consumer arrives at a frequently-visited store—can dramatically increase visitation frequency and retail basket sizes.
- Mobile payment systems are more sophisticated than ever, with options like Apple Pay and Android Pay increasingly normalizing this process. Such an “over the top” payment solution can yield valuable transaction and location data for advertisers.
- As Pokémon Go showed us, augmented reality is a rich opportunity for location-based marketing, as well as high-precision location data tools like beacons—which require significant investment from retailers for maximum effectiveness. Nonetheless, beacons will drive $44 billion in retail sales by 2016, up from 2015’s $4 billion (BI Intelligence).
To learn more, download the Playbook here.
Interested in retail strategies for your campaigns? Email our team at email@example.com.