If there is anything that retailers and restaurants are learning in this new economy, it’s that every dollar counts. Considering how much budget is involved in creating a great advertising campaign, retail and restaurant businesses can’t afford to spend their hard-earned money on marketing campaigns that might work, when they could be spending on campaigns that are guaranteed to work. 

You might be asking yourself,  “Well, how on earth can I do that?” The answer is as simple as two words: location intelligence.

Here are the top three ways retailers can reduce ad waste with location intelligence:

We’re in the 21st century and this is a beautiful thing for your business. Because of the new tools and technologies out there, you can ensure that your ad campaigns reach the right audience at the right time. One of these tools is location intelligence. By using this innovative technology, you can gather customer data to enhance your personas. With this, you will be able to identify the foodies, frequent retail shoppers, brand loyalists, and theoretically put a face to the campaign. 

If you know what makes your potential customers tick, how much easier would it be to target them with the right content that is more likely to drive engagement and sales?

Launching a successful ad campaign takes a little bit more than knowing who is shopping. Add the ability to know when to target your chosen audience and you’ve got an unstoppable advertising  force on your hands! By using mobile location data, you can target your audience in real-time, with ad content that’s more likely to convert. 

By analyzing foot traffic, you can identify consumer trends for any physical location of interest while also being able to understand peak shopping or dining times  on any given day.

Reducing ad waste is a great way to save money. One of the ways that location intelligence can help you keep your coins in the bank is by using predictive analytics. Imagine being able to use historical location data to predict consumer trends, and apply them to a new, supercharged ad campaign. 

The best thing about data is using it for future ad campaigns. If you’re a retail shop in close proximity to several of your competitors, for example, what if you can get that leg up that you sorely needed while saving money at the same time? Consider targeting your competitors’ customers with your advertising campaign. By understanding where your shoppers or diners are going after they’ve visited your location, you can see what interests them, and come out ahead in the end. 

With fewer people going out to eat and shop in brick-and-mortar locations, every penny counts. Ad waste is preventable with a tool that allows you to create a campaign with the knowledge of who and when to target your audience. Go into planning your next endeavor with your eyes wide open.

We provide location intelligence to help you create advertising campaigns that generate results. For more information on how we can help you perform your best in this new economy, contact us for a free consultation.