The use of location data will increase your chances of influencing the decision of a customer at the moment-of-truth by ensuring that the deal remains contextually relevant. Given that, you can capitalize on this trend by offering your consumers mobile payments options that are capable of tracking location. Takeaway: According to the proximity mobile payments forecast from eMarketer, the total value of mobile payment transactions in the US will grow 210% in 2016. Users were then allowed to place an order and pay for their treats via the mobile app. Once that is done, the app used geolocation to detect when a consumer was near a Van Leuween store and enticed them in-store with special offers and deals. As a part of this campaign, customers were required to install the PayPal app on their mobile device and link it to their PayPal account. The New York ice cream store, Van Leuween, provided users with mobile payment options and used this feature to track the location of the user via the PayPal app. Taking this to their advantage, many forward-thinking brands are busy getting creative with geo-targeting and other location-based tactics via location-based marketing apps and tools. Brands Getting Location-Based Marketing RightĪs we discussed earlier, rising growth in popularity of wearables and sophistication of mobile devices has resulted in consumers becoming more comfortable with sharing their location these days. They can also offer contextually relevant content to consumers based on their location data. Thus, while monetary rewards are particularly persuasive, discounts aren’t the only value brands have to offer in exchange for location data. – 65.2% would share data for loyalty points – 89.3% would share data for location-based discounts – 99.6% would share data for cash rewards Here are some of the incentives identified by the study: Now if you are a marketer looking to leverage location-based marketing strategy this year, fret not, for there is still some ray of hope among such mixed results.Ī Microsoft study entitled “The Consumer Data Value Exchange” found that consumers are willing to share data in exchange for cash rewards, discounts, and other perceived benefits. Few of the recent studies on consumer willingness to share personal data such as location prove that just because people can easily engage in location-based marketing campaigns doesn’t mean they will.Īccording to a consumer survey by Boxever, a customer intelligence firm for the travel industry, 60% of consumers indicated that they want offers that are targeted to where they are and what they are doing while 62% said that they don’t want brands tracking their location. It goes without saying that the primary trick in any location-based marketing strategy lies in getting consumers to actually share their location information. Location data is easy to find, consumer permissions are hard to get The report also went on to reveal that all location technologies including beacons, Wi-Fi and GPS, are set to grow by double digits – 63% of marketers plan to invest in Wi-Fi, 57% in GPS, about 41% plan to invest in beacons in 2016. According to the “Global Location Trends Report” launched at SXSW, 75% of 253 global marketers, including Starbucks, BMW, and Coca-Cola, believe that Beacon-based proximity marketing will play a crucial role in their businesses this year. But with mobile driving marketing budgets and plans in 2016, location-based advertising strategies are sure to open doors for huge new opportunities this year, especially when done right. Location-based marketing has been the buzzword in the marketing world for quite some time.
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