In the ever-evolving realm of digital marketing, our recent webinar, "Unlocking the Value of Location Data: From Insights to Impact," presented by Quadrant and Onspot Data, illuminated the transformative power of location analytics in advertising. This event highlighted how leveraging large volumes of quality location data, as opposed to relying on smaller data sets and predictive modeling, can drastically enhance marketing strategies across industries. Here, we explore the key takeaways from the webinar.
1. Targeted Engagement in Banking: A Compliance and Growth Strategy
The first case study focused on a regional bank required by US law to enhance engagement with low-income communities. Using location data to identify and engage these communities, Onspot Data not only helped the bank comply with federal requirements but also significantly expanded its customer base. By mapping mobile device IDs to specific census blocks, the bank could deliver tailored offers, resulting in increased revenue and improved community reach. This approach exemplifies the dual benefits of compliance and business growth through smart, cost-effective digital outreach.
The images below represent some of the census blocks that were targeted with personalized offers through the use of location analytics.
2. Maximizing Reach in Mobile Out-of-Home Advertising
The second use case delved into mobile Out-of-Home (OOH) advertising. Here, Onspot Data leveraged location analytics to gauge the reach of advertisements placed on vehicles. By analyzing location pings and device IDs near the vehicles' routes, Onspot provided clients with a precise audience exposure metric. This data was then linked to demographic information to enhance audience intelligence and launch personalized retargeting campaigns.
The image below is a screenshot of the dashboard that was available to the client. It shows various metrics for their campaigns.
3. Enhancing Digital Out-of-Home Attribution in Gas Stations
In the third scenario, Onspot Data leveraged geofencing around gas stations to analyze patron visitation patterns, dwell times, and other critical metrics. This information proved invaluable for ad exchanges, allowing them to set optimal rates for their digital ad spaces based on concrete data about viewer demographics and behaviors. Such precise measurement tools empower advertisers to price their offerings accurately and offer additional value to their clients through detailed audience insights. Monthly reports delivered to Place Exchange showed a three-fold increase in reach based on real data – which resulted in a higher media valuation.
The image below shows a geofence set up around a gas station. Onspot is able to determine all visitors and associated dwell times within its boundaries.
4. Boosting Engagement for Quick Service Restaurants
The final case study showcased a quick service restaurant chain's efforts to elevate customer engagement. By employing targeted location analytics, the restaurant identified past visitors, mapped customer origins, and analyzed competitor patronage. This data-driven approach allowed the firm to increase footfall in their outlets (month-over-month) by 280% and secure over 132,000 new customers.
The dashboard below depicts a heat map of a region where the restaurant chain has a significant presence.
These use cases collectively demonstrate that location data is not just a tool for targeted advertising but a catalyst for reshaping marketing strategies across industries. By providing a deeper understanding of consumer behaviors and preferences, location analytics enables businesses to make informed decisions, ensuring higher engagement and ROI.
While the webinar delved deeper into these insights, this overview serves as an invitation to explore the full spectrum of possibilities that location data offers. For a comprehensive understanding and more in-depth analysis, we encourage you to download the recording of the webinar. Dive into the world of location data and discover how it can revolutionize your marketing efforts.
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