MAPSTED BLOG

What is Location Intelligence and How Can it Be Used by Businesses?

What is Location Intelligence and How Can it Be Used by Businesses?
December 07, 2021
categories:

Featured

Technology Trends

The world is moving forward fast as we reside in the digital transformation era. A maximum number of services are now easily accessible through our smartphones. This has made it easier for anyone to start their business and reach a large audience. An important aspect of marketing is location intelligence, this has played a very important role in digital marketing. Earlier, we could see advertisements for various products and services everywhere even though they were not relevant to our interests but today, companies are being able to target their audience based on their consumer behavioral patterns. Consumers are able to receive alerts and notifications about various products of their interest. This creates a personalized advertisement experience for the consumers. This also helps in creating a better image of the brand. It can be quite irritating to receive timely notifications about products you don’t really need, location intelligence makes it possible for companies to target their customers with highly relevant advertorial notifications.

What is Location Intelligence?

what is location intelligence
what is location intelligence

Location intelligence (LI) is accomplished through visualizing and analyzing geospatial information. Geospatial analysis helps in business understanding, decision making, and prediction.

You must be wondering how this data is collected? Well, location intelligence systems collect ‘Location Data’ from the consumers’ smartphones with their permission. This data is only collected through mobile devices that have provided consent to the system to access their consumer data. This data includes information like stores visited, entertainment venues, restaurants, device information, etc. This data can be used to create ads that can be targeted to the customer to see at the right time and location.

There are various big organizations that have been using location intelligence to increase their ROI by targeting customers with highly relevant information. This has not only enabled them to get more ROI but also enhanced customer experience and create a strong connection with them. This system has taken over all the old marketing strategies and will definitely grow more popular in the future. With various innovations in the same, we can expect to see even more enhanced customer experiences in the coming years.

Mapsted Maps & Indoor Navigation

Mapsted’s indoor maps provide seamless outdoor-indoor navigation and localization with turn-by-turn blue dot navigation without the use of beacons or other external hardware.

Learn more

Manage CMS

Edit and manage your map and properties with Manage CMS. A software dedicated to helping you manage and exceed your business goals.

Learn more

Mapsted Marketing Platform

Create and send contextual messaging, events, sales, and notifications. Plan for future campaigns to increase revenue while keeping costs low.

Learn more

Mapsted Analytics Platform

Visualize real-time location data through footfall heat maps, user trajectories, visit time, number of visitors, and more. Back your decision-making with compelling visual stories that best represent your data.

Learn more

Here are Ways Businesses can Use Location Intelligence to Improve Results

1. Ad targeting

ad targeting
ad targeting

Ad targeting is quite possibly the most widely recognized and handily executed utilization for location data. Organizations can use analytical reports from location intelligence to create advertisements with specific characteristics for their target audience. This gives the customers a satisfying ad experience where they receive messages for the products that are most relevant to them. The companies can drive in customers that are most likely to purchase their products.

2. Omnichannel Imputation

omnichannel imputation
omnichannel imputation

Location intelligence allows companies to connect online to offline activities. Online advertisements help in controlling foot traffic in particular stores, malls, restaurants, and other venues. Businesses can come up with various campaigns that increase online engagement and attract customers to visit their stores. A lot of companies around the world also offer various discounts on special occasions on store visits. They promote the offers on their social media and target customers in that area who are most likely to visit their store.

3. Getting Ahead of the Competitors

Businesses also utilize location analysis to get ahead of their competitors by understanding their marketing strategies and their audience reach. Rather than zeroing in exclusively on their own clients, many organizations use location intelligence to analyze their competition in the market. By following visits to contender areas, organizations can think about their store visits against their opposition. They can likewise see where their competitors’ customers go prior to and then afterward visit the store. With this data, organizations can use geo-conquesting tools to drive their competition’s customers to their stores instead.

4. High-Click-Through-Rate and Return-On-Investment

Businesses can use analytics and CRM to create detailed personas for sales and customer services. This will help the companies learn more about their target audience and their interests. This can help in developing better business results by utilizing these detailed personas to further develop correspondences all through the client lifestyle making a superior client encounter. With effective CTR and ROI, Businesses can provide relevant discounts and offers for better outcomes. Organizations accomplish a high expansion in CTR for promoting efforts just by utilizing area insight to contact significant crowds and give more customized offers.

5. Builds a Better Brand Image

Location intelligence helps brands build a better brand image in the market and connect on an emotional level with their customers. By providing its target audience with a personalized ad experience, the brand becomes more reliable and trustworthy for the customers. This allows the existing customers to stay with the brand for a long period.

There are various businesses that can use location intelligence to enhance their services and customer experience. Here are a few.

Let’s Take a look at the Industries that will Benefit from Location Intelligence the Most:

  1. Retail
retail
retail

Location intelligence is already growing popular in this sector. Retailers can utilize location intelligence to connect with new crowds, further develop shopper experiences, and extend out the opposition. In addition, retailers can utilize area insight to foresee what to keep in stock and the number of individuals who ought to be on staff on some random day. With area insight, retailers can depend on pedestrian activity information to assist them with settling on the most ideal business choices in this new economy.

  1. Restaurants

Especially after the 2020 pandemic crisis, location intelligence has been very beneficial for this industry. By Utilizing location intelligence, Restaurants can reach out to clients that are probably going to change over and furthermore recognize co-promoting and sponsorship exercises to extend their range, further develop brand mindfulness, and increment client commitment by interfacing with them in new ways that fit the occasions we are in.

  1. Automobile

There are various companies that are selling and renting out cars and location intelligence can help them get ahead of their competition in the market. This system is growing popular in the automobile industry and will continue to grow in the coming years.

There are various companies that offer location intelligence services. This technology is growing in popularity and in the coming years, it will become an important part of important services around the world. Apart from Retail, location intelligence is in demand in many other industries like higher education, healthcare, resorts, etc.

Related Videos

How to increase brand awareness using Mapsted’s Proximity Marketing Technology 1 month ago

Boost customer engagement with Mapsted’s advanced Notify CRM software 1 month ago

How to increase customer engagement with Mapsted Geofencing technology 1 month ago

How to attract customers away from competitors with Mapsted’s geo conquesting technology 1 month ago

Uncover new possibilities with Mapsted’s location-based advertising 1 month ago

How to grow your business with Mapsted Location Based Analytics 1 month ago

How to gain deeper customer insights with Mapsted Audience Segmentation 1 month ago

How to capture your customers’ attention with contextual messaging 1 month ago

How Mapsted’s Location Marketing technology will Help Post-Pandemic 1 month ago

How Mapsted Indoor Location Positioning will Help Post-Pandemic 1 month ago

Mapsted Location Technology for Trade Shows 1 month ago

Mapsted Location Technology for Big Box Retail 1 month ago

Mapsted Location Technology for Museums 1 month ago

Mapsted Location Technology for Banking 1 month ago

Mapsted Location Technology for Transportation Hubs 1 month ago

Mapsted Location Technology Solutions for Resorts and Parks 1 month ago

Mapsted Location Technology for Malls 1 month ago

Mapsted Location Technology for Hospitals and Healthcare 1 month ago

Mapsted Location Technology for Higher Education 1 month ago

Mapsted Location Technology Solutions 1 month ago

Introducing hardware-free location-based solutions | Mapsted 1 month ago

Introducing Mapsted Analytics | Mapsted 1 month ago

Introducing Hardware-Free Location Based Solutions | Mapsted 1 month ago

Mapsted Indoor Maps, Indoor Wayfinding, and Intelligent Search 1 month ago

Request a Demo

See how Mapsted’s technology can help your business grow with a demo from one of our experts.

Request Demo
Copyright © 2014-2021 Mapsted Corp. All rights reserved.