We recently launched our 2019 Location Based Marketing Report, and are offering discussions about the results and implications for marketers. Below are the key stats revealed in the report.
Location data continues to increase campaign effectiveness.
- Almost 9 in 10 marketers said location-based advertising and marketing resulted in higher sales, followed by growth in their customer base (86%) and higher customer engagement (84%).
- More than 8 in 10 (84%) digital marketers currently use location data in their marketing and ad campaigns, and 94% plan to in the future.
Data quality is more important when it comes to location data, and ethical data practices contribute to marketers’ definition of quality.
- Quality of data exceeds all other features — marketers rank it twice as important as the number two and three purchase criteria, ease of use (14%) and price (12%).
- When it comes to defining data quality, accuracy (32%), precision (18%), and privacy-safe methodology (13%) the top three important factors.
There’s a huge, mostly untapped opportunity for marketers to measure the effectiveness of their campaigns with location data.
- 94% of marketers will use location data in the next year for promotions and ads, but only 24% use–or plan to use–location data for offline measurement.
- Of the 24% of marketers using location data for offline measurement and attribution, 51% plan to increase their use of location data in the next year.
Marketers are using location data across new and emerging channels and expect to increase their use across almost every channel in the next year. Auto is posed to grow the most, and connected TV is catching up with mobile as the second most leveraged channel.
- The top channel for leveraging location data is mobile (81%), but marketers are increasingly using location data in emerging channels, including advanced TV (49%), digital out-of-home (47%), voice/connected speakers (45%), and automotive (28%).
Marketers feel stuck with the Google, Facebook and Amazon advertising oligopoly. They want alternatives but the current landscape and regulation leaves them no choice.
- Nearly two-thirds (66%) of brand marketers and agencies are extremely, very or moderately concerned about the oligopoly limiting their advertising options.
- 65% are looking for alternatives to improve advertising outcomes, even though nearly half say the ROI on ad placements with the oligopoly is higher than on other platforms.
- Among those who are very or extremely concerned about limited advertising options, 78% are seeking substitutes for the oligopoly.
- Companies with larger advertising budgets allocate a greater share to Google, Facebook and Amazon. Almost half (46%) of agencies and brands with advertising budgets of $50 million or more spend 60% or more on the oligopoly.
Download Factual’s 2019 Location Based Marketing Report.