Is your data taking time off this holiday season? Has your data turned in their vacation schedule through Halloween, Thanksgiving, Christmas and New Year? It's time to politely yet firmly reject that vacation request and put your location data to work.
Gold mine for marketers
Every mobile app brings back a treasure trove of data from in-app actions and sensor inputs to advertising IDs and real-world location. That last piece of information is of utmost importance because it enables the mining of user profiles worth their weight in gold.
Wall Street has a famous saying, "Sell in May and Go Away". That seasonality correlates nicely with stock market performance over the past 25 years. Mobile marketers are two steps or two quarters upstream of the equity markets. In the marketing world, the saying goes like this:
"Plan in October, Profit through December".
Plan in October
Location data describes the real-world behaviors of your mobile users. The most basic form of location data analysis involves places or POI. By correlating mobile location signals with geo-places data, you can achieve a deep understanding of where your users have been, how often, and for how long. You then can start to predict their future behaviors. Taking that analysis up a notch, you can infer brand affinities for your mobile users by mapping their preferred brands for shopping, dining, healthcare, fitness, travel and transportation. But that's still just scratching the surface.
One can also analyze the top store locations in each city or metro area, review the foot traffic visit data down to each city block, identify the home neighborhoods for customers who shopped at each store, compare visits across competitive brands, correlate with cross-platform data and create robust lookalike audiences. Now, all this reads like a lotta work that requires very complex math.
Truth is, with cloud computing, machine learning and deep data science, mobile location data can be transformed into "people intelligence" with ease, with accuracy, and in near real time.
Profit through December
You've analyzed your location data and converted into actionable "people intelligence", the hard part is done. You've added a potent new weapon to your arsenal, giving you a massively unfair competitive edge. With your shiny new location-based profiles and behavioral segments, you are ready to unleash your creative genius and execute campaigns through the holiday season. Knowing the real-world preferences of your mobile users also empowers you to attract brand advertisers and charge a premium for your targeted campaigns, as much as 50% higher than the traditional marketing push. You've set yourself and your company up for a magical holiday season.
You can get there by acting now. If you have been putting off looking through your location logs all year long, now is a great time to unarchive that data and offload the data analysis to experts who will mine the gold for you.