Marketing: Micro-targeting & Location Intelligence
Marketing and Advertising is the artistic wing of the corporate infrastructure that is the largest contributor to the global economy. Much like in every other aspect of life, science and technological advancements carry us to a more improved lifestyle, but without the art of intelligent marketing, the corporate world too wouldn’t survive in its basis of communication and impressionism, which measures both success and longevity of each and every step of its progression.
What has been
Over the ages, marketing has seen some drastic changes in its mode of conveyance and customer outreach. After the prehistoric era of art and culture as early concepts of marketing, the modern version saw its beginning in the 19th century after the Industrial Revolution. Ever since, the world of marketing has seen its stages of event marketing, billboards, television, print media, physical campaigns and relationship marketing, and with that the concept has grown from an ancillary job in a brand, to full fledged companies based upon marketing strategies offered by them in B2B capacities.
By the late 20th century, Don Draper (as the lead in the well-acclaimed TV show Mad Men), had perfected Macro-marketing by catering to large audiences on a local scale. Studying human nature over a considerable geographical area and responding accordingly, in a way that draws attention to a certain brand or product, engaging with the audience and storytelling to meet the emotions of the population and leave a lasting impression. The whole concept of macro-marketing was based on the people as a single united team, and advertising companies took over all forms of print and digital media like a storm.
Marketing Now
With that we arrive in the 21st century, where rapid growth of social media drives technology and connects brands with the people better than ever. Social media today, stands at the centre of Digital Media and connects the three end-points of marketing together in one single mode.
Both SMEs and industry giants have adopted social media handles to “infiltrate” the digital lives of people with their advertisements and promotional campaigns. The likes of Facebook, Twitter, Instagram have opened up various pricing schemes for such promotions, because in today’s world they are the primary holders of individual data, and influence on these platforms can affect on a local to a global scale. Thus formed the basis of Micro-targeting, which corporate giants and political parties both started investing in vehemently, in a manner which would often seem to be invasive and subject to much debate and discussion among various data privacy concerned bodies.
In today’s world, targeted advertisements with filters such as Age range, Job sector, Educational level, Likes and Dislikes provided by social media giants, allow targeting customer audience, in order to promote advertisement material and marketing campaigns. Location Intelligence is the next straw that will revolutionize the way brands communicate with both existing and potential customers. Providing characteristic features and trends of customers in each and every granular location, combining varying insights among a population by Big Data Analytics and geotagging customer, store or brand information, marketing initiatives can now reach the right people with the right content at the right time. Moreover, the visualisation of this data can help identify new areas to target, reach out to potential customers.
Location Intelligence; and Data Sutram
Personalised Geomarketing has been proven to increase ROI in general by as much as 30%.
Hyperlocal Marketing
You can reduce the cost of marketing campaigns for new customers and at new locations by more accurately identifying areas where potential customers are likely to be, e.g.
- Locations where young working professionals socialize
- Junction for most traffic footfall on weekend evenings
Behaviour Segmentation
Again marriage of location data with internal customer data provides improved understanding, e.g.
- where do existing customers come from
- how do they behave when they pass by a certain billboard
Last-mile Marketing
“Door-drop” methodology obtained by delivery services and location-based companies,
- Cost-effective, personal relationship with targeted customer
- More direct information on Target market
Geo-fencing
One of the first ever successful moves of (reverse) Geofencing, Burger King played a stunt on their fiercest competitor, where, if a loyal customer would ever be inside a 600m vicinity of a McDonalds outlet, Burger King would ping an offer on items via their app, and direct the customer to a nearby Burger King outlet instead to relish that offer. Literally “fenced”.
Audience Match: A Data Sutram Module
As accurate and effective micro-targeting can be, there is still the last decisive and non calculable aspect of personal choice and biases. That is data that lies solely with the customer themselves, and cannot be derived externally. So Data Sutram brings our proprietary Audience Match module, which is a customised, targeted survey wrapped with location-driven analytics.
This module reaches out granular areas in a bigger geographical target, with a dynamic questionnaire designed according to specific target features and takes in responses to add the next layer of intelligence. This makes data far richer, gives the marketer a much more accurate view of their target audience, helps decide pricing strategies, resource allocation and other business decisions which are connected to marketing expenses.
“Stop writing down what I ask for and try to figure out what I want.”
Mad Men; Season 5, 2012
And yes, we can help you figure out your customers better, easier and achieve product-market fit more accurately.
To know more, contact us. Visit our website.
