Blis, WBR Insights, and Future Stores Release New Report
Blis, the global pioneer in advanced location data technology, today announced the launch of new report with WBR Insights and Future Stores. Created to better understand how retailers are engaging in digital-to-physical strategies, Driving In Store Traffic and Purchases Through Digital Channels looks at the digital-to-physical strategies of more than 100 retail professionals and highlights the role of location in the retail playbook. Results from the study indicate retailers using a location strategy report a greater lift in retail footfall and location-based digital initiatives have helped retailers convert customers with customized content at the right time.
As part of digital strategies for guiding visitors to physical stores, location-data assets are leveraged by the majority of retailers in one of four ways: re-targeting strategies, marketing automation, proximity tools like geofencing and beacon technology and in-market consumer targeting. Nearly half of retailers reported using location-based insights for real-time contextual targeting.
“Because of location-based data, we have been able to re-allocate marketing dollars to locations based on traffic. Now, we can pinpoint exactly when a member is near one of our locations and deliver timely content/offers,” said Blis client Greg Lawville, AAA’s Director of Marketing Strategy & Advertising through agency 160over90.
Additional insights from the report include:
Most retailers leverage location data and integration for location-based advertising (71%); emails and notification (63%); video, images, and photography (52%)’ and ‘right-time engagement (52%), the latter of which also includes the use of behavioral and other customer data to engage local audiences when they’re most receptive.
79% of retailers partner with third-party data providers to collect geolocation data (56%), conduct first- and third-party data integration (53%), and support geographical data visualization (45%).
Most retailers provide location-based resources for customers, including local product or inventory search (60%), interactive maps (65%), localized social media accounts (60%), and localized online customer service (51%).
“Location-based digital initiatives are having a big impact before and during the shopping experience,” said Ramon Castillo, Director –International IT and Global Planning at Costco Wholesale Corporation. “It is now a big driver in getting customers to our stores as we can influence customers with attractive promotions and create a sense of urgency.”
The data shows the future is ripe for marketers to optimize on location-based strategies, with 70% of retailers reporting a positive outlook on their location strategy performance. Additionally, the report indicates that retailers are working to document their digital to in-store purchase strategies with more than one-third of retailers having an existing documented plan and a quarter creating one within the next year. With regard to team size, nearly half of retailers have more than 10 people dedicated to in-store localization efforts.
Added Gil Larsen, VP Americas, Blis: “Impactful brand marketing is no longer just about reaching the right person at the right time; the content of the message also needs to be tailored for the right place. Location information allows retailers to go beyond generalized understandings of consumer behavior and develop quality, right-time and place personalized experiences.”
To gather this information around retailer strategy, WBR Insights and Future Stores surveyed senior managers, directors, VPs, SVPs, and C-Suite retail leaders in operational, omnichannel, marketing, IT, CX, and analytics roles primarily at U.S. and Canadian companies reporting at least $250 million in annual revenue. Respondents represented specialty retailers, apparel, supermarkets, department stores, hardware, electronics, appliances, and home furnishing retailers.
Visit blis.com for more information on location-based tactics or to download the Driving In Store Traffic and Purchases Through Digital Channels whitepaper to learn about how retailers are leveraging location data and how it can further benefit them in this uncertain time.
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