Marketing Trends Location-based marketing is one of the emerging techniques that use a person’s location to offer him customized, real-time offers, thus leading to both enhanced customer experience and more visibility for the advertisers. With the help of geolocation and geofencing, users are provided relevant notifications at the right place and the right time. Proper authentication and contextualization of location data are also essential along with geolocation for targetted marketing. The location-based services market size was valued at $23.74 billion in 2018, and is projected to reach $157.34 billion by 2026, growing at a CAGR of 27.1%. Let’s look at some of the major location marketing trends.
Notifications to potential customers cannot be location agnostic. It has to be with a strong location context and keeping in mind the current online preference of the users and that they are mostly on the move. Simply pinpointing a location, based on maximum visits or chosen favorites, is no longer the right way to go.
Location-based augmented reality gives app developers the opportunity to engage with the users in a highly interactive and thrilling way. In place of the conventional feeds and display, what the user will see on the screen would be most pertinent to his current location.
It is expected that in a few years augmented location will take mobile marketing by a storm and transform the segment through the judicious mix of problem-solving, contextualization, salience and customization.
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Mobile app localization
There is no ‘one size fits all’ approach anywhere, and the same goes for marketing strategies and campaigns. Localization means customizing mobile apps in vernaculars so that they can have a greater reach. As per surveys around 90% of mobile phone activities, these days are through apps and localization is a crucial strategy in widening the reach. In the future companies will invest more in app localization for better customer experience and tapping into different markets. Localization also offers higher ROI (Return on investment) and more visibility on the app store.
Though Beacon technology is not a new innovation, its utility is fast gaining pace. The installed beacon transmits messages to smartphones using Bluetooth and Wi-Fi. Some of the biggest brands are capitalizing on it for targeted marketing, understanding customer behavior and preparing effective brand strategies. It also offers additional opportunities: customer mapping, tracking, cross-selling, relative targeting. Beacons are poised to change the face of proximity marketing.
The correct deployment of beacons provides a competitive edge over rivals and addresses customer demands. For instance, a large store could confuse and misguide customers, as they may not know where to start and where to find what. Beacons will help enable them to navigate in a hassle-free manner. Also, particular store segments where customers tend to devote most time and transactions can be easily identified and other relevant details can be fetched.
As the name implies, hyperlocal marketing refers to targetting customers within specific geographical limits or a selected area with the help of location intelligence. It is proving to be a beneficial strategy for marketers as it enables them to relay targeted messages to a set of customers at any given time and location. However, one of the downside in hyperlocal marketing could be a lot of spam content and sub-par user interface. The problem of spam can be addressed by enhanced functionality and giving customers the liberty to decide whether they want to discontinue receiving notifications. Marketers are experimenting with alternative ways that would help them stay ahead of the curve and get a grip on customer demands.