Better Business Together http://betterbusinesstogether.com Fri, 20 Apr 2018 18:38:15 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.5 How Brands Are Getting More Sophisticated at Using Location Data http://betterbusinesstogether.com/how-brands-are-getting-more-sophisticated-at-using-location-data/ Fri, 20 Apr 2018 18:38:15 +0000 http://betterbusinesstogether.com/?p=3287 And a look at what’s next for marketers
By Brian Czarny

Location data is powering ad targeting, customer insights, user engagement and campaign measurement and has established equal footing with traditional assets like purchase histories, digital interactions, and email response rates. Marketers need to keenly focus on leveraging location data or miss out on crucial opportunities to engage customers and acquire new ones.

For instance, during an Adweek-hosted roundtable last fall, a HotelTonight exec stated that well-timed, location-targeted ads have been “incredibly successful” for the brand. BMW has won accolades for measuring campaign effectiveness with location data when it comes to dealer visits and sales. According to researcher BIA/Kelsey, location-based ad spending in the U.S. will grow to $38.7 billion in 2022, up from $17.1 billion last year.

Such tremendous growth isn’t shocking when one considers positive, tech-based developments in modeling mobile device state (i.e., a consumer’s “state” denotes if he or she is at home, work, on the move, at a restaurant, at a park), quality filtering of device source data, and building “places” (or point-of-interest data), all of which now leverage machine-learning techniques and large data assets for training and modeling.

But even with the growing importance of location data, it’s often also one of the most misunderstood areas in marketing. Let’s demystify the space a little with an overview of the rise of location data and how marketers are increasingly using these insights to target ads, develop customer experiences and build their businesses.

Geofencing garnered early-days buzz

Location data has always been of interest to marketers, but it really came into vogue circa 2010 with brands like Starbucks, The North Face and L’Oreal testing geofencing, a technique that employs GPS or radio frequency identification (RFID) technology, such as beacons, to define a geographic boundary to trigger a location-based mobile ad in real time.

 

 

 

 

]]>
Understanding Programmatic: Your Company And Career May Depend On It http://betterbusinesstogether.com/understanding-programmatic-your-company-and-career-may-depend-on-it/ Fri, 20 Apr 2018 18:34:18 +0000 http://betterbusinesstogether.com/?p=3283 We all face choices throughout our lives on whether to hire someone or tackle a job ourselves. We might decide to paint our bedroom rather than engage a painter or spackle the ceiling ourselves instead of hiring a contractor.  The effects of such choices are not life-changing. As long as we’re happy with the job we did, the calculation is based on how much we enjoy the results and value our free time.

The equation changes, though, when it comes to your occupation. In that case, outsourcing can be shortsighted because it deprives us of gaining marketable skills and having more control over our budgets.

This is especially true with programmatic advertising. If you’re a campaign manager and your job consists mostly of interfacing with a programmatic ad partner and updating insertion orders (IOs), there’s a strong likelihood that you understand little about programmatic. You’ve likely made yourself vulnerable to being replaced at some point. You’ve also missed a chance to drive more revenue for your company, which is the most straightforward way to show your value.

The Power Of Insights

Programmatic advertising is more than just a means of buying and selling ads. It’s also a vehicle for uncovering data and insights about consumers that can lead to more personalized experiences for them. Without any data to back up your ad creative decisions, you’ll rely purely on intuition. But it’s the data from your programmatic campaigns that fuels great creative on not just display but other marketing channels.

Imagine a men’s fashion retailer that photographed four different models, each of whom looked like one of their target personas. You could run different ads with different models across programmatic channels to test what combinations drive the most sales for each persona. You can then take this ad creative and use it in targeted email campaigns or out-of-home advertising. These vital insights allow a brand to confidently run personalized campaigns at scale.

 

 

 

]]>
Marketers Are Getting Up Close and Personal with These New Geofencing Advancements http://betterbusinesstogether.com/marketers-are-getting-up-close-and-personal-with-these-new-geofencing-advancements/ Fri, 20 Apr 2018 18:23:15 +0000 http://betterbusinesstogether.com/?p=3279 Geofencing is quickly becoming a must-have for retailers everywhere.

By Molly St. Louis | Creative executive

If you’re still playing catch up when it comes to geofencing, it’s time to start taking this technology seriously. Especially when it comes to marketing. In fact, according to a report by Global Market Insights, the global geofencing market is expected to reach over $1.7 billion by 2024. Pretty big business, indeed. So, what’s driving the growth in geofencing marketing and how can you leverage this technology for your business?

With the rise in mobile usage and growing confidence in m-commerce (mobile purchases are set to make up 27 percent of all e-commerce transactions by the end of this year), Americans are basically glued to their smartphones. The average consumer spends around five hours a day looking at theirs. So, it’s no wonder that marketers of all stripes are scrambling to find ways of getting their messages mobile.

But with a crowded app market and consumers reluctant to try new apps, you have to offer something pretty special to catch their attention. With high profile store closures, including Toys ‘R’ Us, it’s no secret that retail has been lagging behind in the e-commerce race. Geofencing marketing can help redress the balance and entice consumers back into brick and mortar stores.

Improved GPS Accuracy

GPS services are a default feature in the majority of smartphones. What used to be just an easier way of navigating yourself around the city is turning into a marketer’s dream. They can use geofencing to tap into mobile devices and determine the physical location of potential and previous customers, and when they’re in the proximity of a store. That means that they can also come up with ingenious ways of luring them in.

One of the most interesting geofencing advancements this year is its improved accuracy.

 

 

 

]]>
What will programmatic look like in 2027? http://betterbusinesstogether.com/what-will-programmatic-look-like-in-2027/ Fri, 09 Feb 2018 23:29:00 +0000 http://betterbusinesstogether.com/?p=3259

2017 saw the tenth anniversary of programmatic advertising. From its humble beginnings, over half of all non-search digital ad spend is now made using the technology. The days of slow deals, subject to human errors and inefficiencies, are increasingly behind us.

But adtech’s story is far from over.

The next ten years will see new technologies that will fundamentally change the way advertising is experienced in our day-to-day lives, whether as media buyers or as consumers. It is our responsibility as technology providers to capitalise on these changes as best as possible, delivering what is becoming a genuinely helpful service by connecting consumers to the purchases they want to make.

By 2027, programmatic will become ubiquitous in the marketing sector. It will no longer be a line item on a media plan, but will be taken as a given by media buyers. Programmatic will extend its depth, moving into more channels such as DOOH, TV, Radio, and VR. It will also extend its breadth to more consumers, yielding more data across more localities to properly optimise successful campaigns.

Ditching siloed channels

Understanding the omnichannel user experience is already a must for any effective programmatic marketer. The way an ad is engaged with by a consumer, between, say, their desktop and mobile, is crucial for advertisers to understand to best optimise their campaigns. The ‘single view of the consumer’ across multiple devices currently spoken of will be a well-established state of affairs, with marketers having an accurate view of cross-device behaviour.

traditional broadcasters will adopt the media buying techniques of their peers in the video universe

The way consumers engage with multiple channels will change too. A search for a product or service on their smartphone will instantaneously update the ads recommended to them when on their laptop or tablet. What’s more is that consumers will quickly raise their own expectations in light of these developments, demanding convenient, real-time offers and messages, and scrutinising ads which are irrelevant and unnecessary. The consumer will even start to see advertising as a core component of shopping, with smart refrigerators reminding them of the need to buy milk through an ad, having detected that they don’t have any.

 

 

 

]]>
Optimizing Location Data: What It Is, Where It’s Going and Why It’s So Important http://betterbusinesstogether.com/optimizing-location-data-what-it-is-where-its-going-and-why-its-so-important/ Fri, 26 Jan 2018 21:29:15 +0000 http://betterbusinesstogether.com/?p=3251 Opinion: Local search is a weapon marketers can use to increase store revenues and boost local brand perception ]]> 6 Trends That Will Define Mobile Marketing In 2018 http://betterbusinesstogether.com/6-trends-that-will-define-mobile-marketing-in-2018/ Fri, 26 Jan 2018 21:24:17 +0000 http://betterbusinesstogether.com/?p=3247 The future of mobile marketing will come into clearer focus during a year that’s likely to see budgets grow, major acquisitions and newer sub-channels reaching critical mass.

As 2018 gets underway, it’s shaping up to be a big year for mobile marketing, with budgets expected to grow, major mergers and IPOs in the works and the arrival of Harry Potter in our world via an augmented reality (AR) game.

Core challenges will remain, like the proliferation of sub-channels and the need to create more seamless mobile experiences, but marketers are more convinced than ever of mobile’s crucial role in activating adjacent channels. With all signs pointing to the growing prevalence of integrated connected experiences moving forward, savvy marketers will double down on digital assistants and AR to gain crucial experience in preparation for the future.

Influencers, social media, chatbots and messaging apps will all remain a focus as brands look to engage millennials and their younger cohorts, Gen Z. Connecting with the upcoming generation of digital natives promises to be a tough nut to crack, with early efforts pointing to two strategies with potential: choose-your-own-adventure storylines and being good corporate citizens.

Below, Mobile Marketer takes a look at six overarching trends that will impact mobile marketing in 2018 and some of the ways marketers are likely to respond:

When worlds collide

It’s widely agreed that seamlessly integrated offline and online experiences that are contextually relevant in real-time and provide meaningful value will become ubiquitous in the future. While this vision won’t become fully realized in 2018, significant advances will be made.

“Combining [visual search and image recognition] with AR and artificial intelligence will enable new experiences beyond words.”

 Thomas Husson

VP and principal analyst, Forrester Research

A couple of clear-cut ways forward will be evident in the months ahead, including the broader adoption of Facebook’s offline conversions API, which was introduced in 2017 and provides insights into what influences online shoppers to shop in-store and vice versa. This will open up opportunities for better targeting, promotions and budget distribution, according to Lisa Cucinotta, VP of accounts at Adaptly, in emailed comments to Mobile Marketer.

 

 

 

]]>
How Brands Can Use Location Intelligence to Target Travelers http://betterbusinesstogether.com/how-brands-can-use-location-intelligence-to-target-travelers/ Fri, 19 Jan 2018 06:26:04 +0000 http://betterbusinesstogether.com/?p=3238 This holiday season, millions of people will crisscross the country to reunite with their families and catch up with old friends. As these consumers pass through airports, train stations, and bus terminals, it’s a good reminder of how brands can use travel hubs as sites to identify, understand, and reach their ideal audiences.

In fact, travel hubs like New York, Boston and DC see huge amounts of passenger traffic each year. In 2016, nearly 59 million people passed through JFK, while a million people pass through Grand Central Station each week. These consumers may be vacationers, business travelers, American citizens, or foreign visitors—each with his or her own set of habits and interests.

With so much movement and so many individuals from all over the place moving through various travel hotspots, how can advertisers tell them apart? And how can they use this information to serve relevant messages without wasting precious ad spend?

Good Geo-fences Make Good Audiences
We all know that location data can tell a lot about a person: An individual at the gym is likely to be physically active and health-conscious, while someone who goes to the movies every weekend is probably a film buff. But understanding consumers is a lot more complex when brands are analyzing the movements of millions of consumers sitting in airport lounges or lounging on trains.

Advertisers can begin to construct comprehensive consumer profiles by collecting device IDs of passengers passing through major travel hubs. For instance, by geo-fencing an airport or train station, brands can identify a preliminary audience of travelers.

Still, a basic geo-fence will also raise some questions of its own: Is the man at La Guardia just back from a European vacation, or is he heading to Silicon Valley for a business trip? Is the woman who just connected to the Wi-Fi at Penn Station a tourist or a New Yorker heading to the Long Island Railroad? For a luxury hotel looking to reach wealthy travelers or a low-cost tourist attraction targeting penny-pinching families, the answers to these questions will make a big difference—and can help brands avoid wasting ads on the wrong audience.

 

 

 

]]>
Mobile Marketing Maturity: Unlocking The Mobile-Only Future With Location Data http://betterbusinesstogether.com/mobile-marketing-maturity-unlocking-the-mobile-only-future-with-location-data/ Sat, 13 Jan 2018 00:56:54 +0000 http://betterbusinesstogether.com/?p=3234 Even smart brands with strong marketing partners sometimes struggle with the complexities of location data. It’s an obstacle that can discourage advertisers from leveraging the most effective approaches to mobile marketing, and it can hinder growth overall.

The scale of the challenge is significant. According to a June 2017 study that our company commissioned from Forrester, 94% of surveyed advertisers said they grapple with difficulties in working with location data. It is a story that brands have been telling for some time, too. For example, Greg Sterling, vice president at the Local Search Association, recently wrote about advertisers addressing location-based challenges. Here’s the good news: With a shift in strategy and marketing mix, the location-intelligence challenge is a dynamic that advertisers can change.

In the following sections, we look at location-data roadblocks, and we put a spotlight on the benefits location intelligence brings to campaigns, boosting an organization’s mobile-marketing maturity along the way.

Mobile-Marketing Maturity: Location Data Drives Its Growth

How do we define mobile-marketing maturity?

In a nutshell, there are three factors in play: A mature business supports mobile-marketing initiatives and assigns an organized team to achieve them, the organization effectively plans and executes on mobile strategies and the organization puts a system in place to measure mobile-marketing outcomes. These findings, in turn, fuel future strategies.

In our study, when we looked at brands with all three of these elements in their marketing mix, we identified the following common outcomes.

• Mature organizations using location data to achieve rich consumer insights were 12% more likely than their less mature peers to report increased ad-content relevance.

• Advertisers in this same category reported other brand benefits as well. For example, mature organizations were directionally more likely to increase brand awareness than their less mature peers (a 5% difference in likelihood). Brands also saw benefits to marketing ROI and targeting outcomes.

 

 

 

]]>
What is geofencing? Putting location to work http://betterbusinesstogether.com/what-is-geofencing-putting-location-to-work/ Thu, 04 Jan 2018 20:15:38 +0000 http://betterbusinesstogether.com/?p=3229 Geofencing is a service that triggers an action when a device enters a set location. Coupons, notifications, engagement features, security alerts — businesses are finding creative ways to make use of these virtual boundaries.

By 

What is geofencing?

Geofencing is a location-based service in which an app or other software uses GPS, RFID, Wi-Fi or cellular data to trigger a pre-programmed action when a mobile device or RFID tag enters or exits a virtual boundary set up around a geographical location, known as a geofence.

Depending on how a geofence is configured it can prompt mobile push notifications, trigger text messages or alerts, send targeted advertisements on social media, allow tracking on vehicle fleets, disable certain technology or deliver location-based marketing data.

Some geofences are set up to monitor activity in secure areas, allowing management to see alerts when anyone enters or leaves a specific area. Businesses can also use geofencing to monitor employees in the field, automate time cards and keep track of company property.

How geofencing works

To make use of geofencing, an administrator or developer must first establish a virtual boundary around a specified location in GPS- or RFID-enabled software. This can be as simple as a circle drawn 100 feet around a location on Google Maps, as specified using APIs when developing a mobile app. This virtual geofence will then trigger a response when an authorized device enters or exits that area, as specified by the administrator or developer.

A geofence is most commonly defined within the code of a mobile application, especially since users need to opt-in to location services for the geofence to work. If you go to a concert venue, they might have an app you can download that will deliver information about the event. Or, a retailer might draw a geofence around its outlets to trigger mobile alerts for customers who have downloaded the retailer’s mobile app. In these cases, a geofence that is managed by the retailer is programmed into the app, and users can opt to decline location access for the app.

 

 

 

 

]]>
How Geofencing Marketing Optimizes The Online Experience http://betterbusinesstogether.com/how-geofencing-marketing-optimizes-the-online-experience-2/ Thu, 04 Jan 2018 19:25:12 +0000 http://betterbusinesstogether.com/?p=3225 Knowing what your customers want and being able to deliver exactly that, is what every business owner dreams of being able to do. But when you don’t have this information, the costly lack of knowledge can mean diminished returns.

If you really want to help your customers, you have to get inside their heads. Know how they think. Understand where they’re likely to go, when, and why. That information doesn’t have to be private anymore, thanks to innovations in geofencing marketing technology, location-based digital marketing that allows businesses to message smartphones in a defined geographic area.

Geofencing Marketing Is The Future Of Consumer Management

The customer experience (CX) has become central to successful marketing. In fact, 86 percent of senior marketers say that creating a cohesive customer journey is critical to success.

Geofencing allows you to set up a perimeter around certain locations, your brick and mortar location, for example, that will trigger customer interactions when they cross into it. You can direct them to a special deal based on what their last purchase was.

This kind of meaningful CX drives user engagement, and helps customers find their way back to you again and again; taking mobile marketing to the next level.

How Geofencing Marketing Will Connect You With Customers

“Geofencing marketing provides a win-win situation for retailers and customers by seamlessly integrating the online and offline experience via mobile,” says Emil Davityan, Cofounder of Bluedot Innovation, a company specialized in developing precision smartphone location services.

The analytics provided by geofencing are invaluable for understanding and directing your customers. Knowing their shopping habits, and their habits throughout life otherwise, gives you the opportunity to reach out to them in meaningful ways. At the same time, it helps you build brand awareness and retain customer loyalty.

 

 

 

]]>