89% of marketers have been able to boost sales by using location data as part of their ad campaigns finds a new report by Factual.
The benefits of location-based marketing include increased sales (89%), as well as increasing customer bases (86%) and higher customer engagement (84%).
The majority of marketers are now using website traffic (52%) to measure their digital ad effectiveness, followed by brand awareness and actual sales (50% each).
However, marketers agree that sales and website traffic are the most useful indicators when it comes to measuring campaign effectiveness.
When it comes to the top features of location data, marketers agree that data quality (31%) is the most important factor. Ease of use (14%) and price (12%) are also important features.
The majority of marketers (62%) agree that they are very interested in auditing how location data is collected.
Data accuracy (32%) and precision (18%) were the most important factor to evaluate data quality.
Over 84% of marketers currently use location data as part of the marketing and ad campaigns whilst 94% plan to do so in the future.
Targeting (67%) and audience engagement (52%) were the primary uses of location data.
“Marketers today are expected to be data-driven experts, and location data is able to help them through every step of the process, from understanding their audiences and engaging customers, to measuring results and attributing success,” said Brian Czarny, CMO at Factual.
However, just 24% of respondents said they were currently using location data for offline measurement and attribution. Roughly half (51%) of them plan to increase their use next year.
Among the top channels currently used for location data mobile ranked top (81%), whilst voice technologies, digital-out-of-home and OTT were emerging channels.
66% of brand marketers are very worried about the Facebook, Amazon and Google oligopoly limiting their ad options. Indeed, 65% added that they were seeking alternatives.
Advertisers devote around 43% of their ad budgets to Google, Facebook and Amazon, whilst agencies still attract the largest share (50%).