For marketers, buying and sifting through tons of data is a part of the job–80% of marketers say audience data is critical to their digital advertising efforts–and it’s always frustrating to see little ROI after allocating so many resources to it.
Here at Blis, we throw away a ton of data that comes into our system and scale it up again in order to make sure the data we provide is as accurate as possible. It’s one of the reasons why our patented mobile location technology is so effective- its foundation is based on the idea that being transparent and as up to date as possible with your target audience is what separates great campaigns with average ones. For those of you wondering what your solutions provider should be doing to ensure they deliver the most accurate data possible, follow these tips:
Real Time Data is King
Using old data is no longer going to cut it in today’s fast paced environment. If you want to lead the pack with real time data, you need to invest in location data that can pinpoint specific locations visited by your target audience and further personalize it- meaning that you know the 5W’s (who, what, when, where and why) of your audience before they even start their day. For example, location data can tell you that sending a buy one, get one coupon from Starbucks at 2pm will have a higher likelihood of being converted since the data told you a certain woman goes there for her daily caffeine fix everyday, at the same time. People are constantly in flux everyday, and having a web of data points that accurately points out their movements, leads to freshly baked data, every time.
Use Audience Segmentation to Your Advantage
Although a popular misconception, location data obtained from mobile phones can distinguish between consumers that visited a store and those that passed nearby. This capability is essential to accurately target your audience, and is what makes location data so effective– there’s a reason why 71% of retailers leverage location data and integration for location-based advertising, according to a study we conducted.
Investing in location data allows for you to not only see your target audience’s patterns, but also understand and identify new audiences that might prove to be potential customers. Although not a key target, these people are a part of an interconnected web of data that help build a holistic and accurate view of how your target audience behaves and interacts. Think of it as adding vegetables to a pot of chicken soup- they may not be the stars of the show or even what you’re really looking forward to consuming, but they combine with the chicken and broth to make a complete, balanced dish that isn’t lacking a thing.
Overall, having accurate data starts with having access to real time data points that accurately reflect your audience, which you can segment to suit your business objectives and ensure your resources are being well spent.