Location-Based Marketing: In-Market Audiences
April 16, 2018
Gravy Analytics processes billions of pseudonymous mobile location signals each day to create its real-world location intelligence. The resulting information about where consumers go AND what they do in the real-world can then be used by marketers to power targeted advertising campaigns, improve customer engagement, power market research, or enhance their own products using data about what people do in real life.
Some of our most popular products today are Gravy Audiences. Our more than 350 audiences include lifestyle, enthusiast and in-market audiences. In-market audiences include people who are expected to make a new purchase – apparel, home goods, cars or something else entirely – in the near term.
What exactly is an in-market audience?
In-market audiences are comprised of mobile consumers whose behaviors suggest that they are now, or soon-to-be, in-market for a product or service. These consumers have recently visited a place or an event that foretells an upcoming purchase. For example, a consumer might be observed at an open house, making it highly likely that they’re considering a new home purchase. This consumer device would then be added to our ‘Home Buyers’ audience for use by advertisers. Another consumer might visit a new car dealership, making it likely they’re in-market for a new car, and added to our ‘Auto Intenders’ audience.
Who should use in-market audiences?
Companies who sell products or services that are associated with a place or event will benefit from using Gravy’s in-market audiences to promote their own offerings. For example, a consumer recently observed at a Mercedes dealership might be the ideal target for a BMW ad promoting a new lease offer. A consumer with known visits to a baby goods store would likely be interested in an offer from Carter’s children’s apparel.
In-market audiences can also be used by companies whose products or services are sold post-purchase. To illustrate, an auto insurance company might use our “Auto Intenders” audience knowing that new car buyers will be soon be looking for the best rate on auto insurance for that new car.
How do you use location data to tell when a person plans to make a purchase?
In most cases, companies already know the types of places and events that influence their sales. With Gravy’s event-informed location intelligence, this is just the first time that companies have been able to specifically target consumers using information about those real-world activities.
In-market audiences can be used to effectively advertise both smaller, frequent purchases and larger, more infrequent buys. A children’s toy store or clothing retailer might use the ‘In-Market Baby and Kids Products’ audience to reach parents or grandparents whose activities indicate they’re often buying for children. A furniture store might choose to reach using our ‘Furniture Buyers’ or ‘Mattress Buyers’ audiences to advertise their home furnishings.
How do I know that I’m reaching people who *haven’t* already made their purchase?
Gravy’s in-market audiences are built to reflect the buying habits of consumers today. Once a behavior is no longer observed, we assume that the consumer has already made their purchase, and remove their mobile device from the audience. That way, customers of Gravy Audiences can be assured that they are paying to reach only those consumers who are still considering a good or service.
What in-market audiences are available today?
Gravy Analytics today produces 25+ in-market audiences, including ‘In-Market Travel’, ‘In-Market Wedding Planning’, ‘Mattress Buyers’ and more.
What if the in-market audience that I want isn’t available?
No problem! Gravy is always looking for new audience ideas, and releases new audiences every month – often in response to consumer requests. If you have an idea for an in-market audience that isn’t already available, just let us know. We’ll be happy to work with you to build an audience based on the places and events that your customers typically attend.
Want to keep your in-market audience all to yourself? We call that a Custom Audience.
Get started with location-based advertising and in-market audiences today. Contact us to learn how.