Location is the most valued data for most marketers
Marketers have been hoovering up as much data about their customers as they can over the last few years. Increasingly though, the idea that it is the quality not the quantity of data that is important.
The rush to collect as much data as possible actually led to a lot of paralysis among organisations who suddenly couldn’t decide on the right area of focus.
Clearly all data is not created equal, so what is at the top of the priority pile for agencies and brands?
New York-based consumer behaviour and insights company PlaceIQ has conducted research on North American multi-channel markerters as part of its ‘The State of Integrated Marketing 2017: Mapping the Journey to Success’ report.
81% of those surveyed ranked location data as first or second most important element for marketing measurement. Location data is often the foundation of successful integrated marketing campaigns. One third of marketers saying location-based audiences as the most compelling new factor in integrated marketing.
The growing popularity of integrated marketing as a strategy is in large part an attemptto adapt to changing consumer buying patterns. 47% of the companies surveyed stated that developing a unified cross-channel customer experience was a top-three priority in the last 12 months.
This need to adapt can offer smaller, nimbler firms that are sometimes better placed to quickly adopt innovative approaches. The PlaceIQ data shows that marketers with smaller annual advertising budgets (between $10m – $25m), were four times as likely to claim to have a ‘best-in-class’ integrated marketing programme when compared to their larger competitors.
“Effective marketing puts the customer journey first,” said Duncan McCall, CEO and co-founder at PlaceIQ.
“This study validates the demand from marketers to create cohesive brand narratives across all channels, at a time when consumer interactions with brands have grown increasingly fragmented, complex, and difficult to measure.
“The brands that are succeeding are building integrated marketing programs based on truth sets like location data, which provides both the insight into how to reach audiences across channels and the capability to accurately measure the performance of each.”