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.
