There’s a problem emerging in marketing.
The number of connected devices in the world is increasing dramatically – an estimated 30 billion by 2020. Each device generates data points every second of every day.
This isn’t just online, browser-based behavior data collected anonymously. Not anymore.
Our devices go everywhere with us. They’re personal and tied individually to each of us.
This means, as marketers, we can now use location data to glean so much information at a one-to-one level about consumers – where they go, what they do, offline purchase habits and much more.
By itself, this obviously isn’t a problem. In fact, it’s great. We can capture so many more detailed and contextual insights on consumers to power marketing and advertising that’s relevant. Finally.
The problem is that using all this physical world data is hard.
Mastering Location Data Isn’t Easy
There are hardly any tools to collect location data. Organizing all this data is equally difficult.
And even if you have managed to both collect and organize the data, if your tools for collection aren’t integrated directly into a marketing platform, then it can be tough executing against that data.
In short, you may never get to actually use location data to run any kind of relevant, personalized marketing. Your time wasted. Your efforts all for nothing.
Because here’s the reality. While understanding a consumer’s digital footprint is important (i.e. what websites they visit, where they click), if it’s not paired with physical world data (their actual footprint), then as marketers you’re missing out on a massively significant portion of consumer activity.
8% of all commerce happens online. That means a staggering 92% of commerce still takes place at physical locations across the world. And if you’re not harnessing that data, then you’re really only viewing 8% of the entire picture.
We really want to fix that.
In order to fix this, you need to harness the power of always-on location data.
We call this Location 2.0
Location 2.0 represents a new marketing paradigm that, if harnessed correctly, provides marketers with the ability to use real-world triggers to personalize marketing and advertising efforts.
Imagine not having to rely on anonymous, 3rd-party audience segments that might contain the people you’re trying to reach.
Instead, imagine building custom audiences continuously – every time someone takes a physical world action that provides a clue to their purchasing habits.