Connect the dots between online and offline behaviors, add value to insights, cluster for audience segmentation, and anticipate customer needs.
What are location analytics?
Location analytics refers to the ability to gain insight from geographic data – insight that can be used to improve business intelligence (BI) and deepen an organization’s insights: allowing them to identify opportunities, maximize positive outcomes, and improve data-driven decision-making.
An estimated 80%1 of all business data has a geographic component, a largely-untapped source of context that can provide an entirely new dimension of analysis for BI. By blending business data with geographic data, a company can better understand the relationship between customer and brand.
Event data provides even more context to location analytics: location data can tell you who went where, but event data can tell you why they chose to go: providing an entirely new situational framework for deep customer insights.
Gravy’s verified, accurate, and privacy-friendly location analytics include foot traffic data gathered from a user’s MAID (mobile advertiser ID).
Location analytics help a company manage one of the trickiest aspects of consumer behavior: connecting online to offline behavior. How can you measure the effectiveness of marketing and advertising, when an online ad drives offline behavior and vice-versa? Location analytics provide the context necessary to unite online to offline behaviors and provide a more comprehensive picture of the customer journey, for accurate attribution.
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Questions location analytics can answer:
- Where in the city/state/region are you performing the best?
- What distance do customers travel to your location? Is there an opportunity to expand to a new market?
- Do customer habits / trends reveal any opportunities for new audiences or cross-promotion?
- Where should you focus marketing resources?
Benefits of location analytics.
Location analytics can be applied to improve a range of business outcomes, and give a business a significant competitive advantage. Use cases include:
Contextual information from location analytics augments customer profiles, allowing a business to better understand their customers: their needs, habits, interests and values. This can then be applied to improve customer satisfaction in a number of ways: personalized promotions, offers and rewards; creating customized solutions to any issues that arise; even anticipating a customer’s changing needs with predictive and comparative analytics.
This same information can be used to:
- Increase purchases / sales
- Improve engagement
- Drive customer loyalty and retention
Advertising & Marketing ROI.
With insight to customer behaviors, interests, values and habits, a business can improve targeting, ensuring that the right message is delivered to the right person at the right time. It can be used for more effective messaging and creative, adding additional information that can be used for A/B testing so that resources are channeled to the most effective campaigns. Channeling resources more effectively improves the return on investment (ROI) for advertising and marketing.
Real estate site selection.
Businesses can use customer geographical information to analyze location data over time, and gain intelligence about a customer’s habits and interests. This can help a business improve real estate site selection, choosing the location that is frequented by existing customers or that is most likely to draw customers from nearby businesses.
By comparing the success of different physical locations over time, a business can measure outcomes and KPIs of the locations themselves, as well as the effectiveness of different promotions, sales teams, customer service teams and more. Location analytics provide the framework for comparative analysis that can be used to improve performance of stores, employees, teams, promotions, and more.
To help businesses better understand their customers, Gravy built the first and only location verification engine, AdmitOneTM, to promote location data accuracy and deliver the most conclusive consumer audiences, insights, and data available.
Gravy specializes in collecting, cleansing and correlating verified event information to contextualize location data from over a million mobile devices, gathering billions of anonymous location signals every day. With this information, businesses can improve marketing, sales, and customer retention efforts by leveraging key insights from location analytics.
Location analytics for enterprises.
Connect the dots between online and offline behaviors, while adding value to insights by considering distances traveled, clustering for audience segmentation, and applying location data to predictive analytics to anticipate customer needs.
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