In order to optimize advertising costs and maximize revenue, marketing leaders are using spatial data to create geofences in specific areas, allowing them to reach audiences that are more likely to become potential customers.
What is geofencing marketing?
Geofencing marketing is based on location intelligence, which allows enterprises to connect with smartphone users in a designated geographic area through mobile applications. This tool consists of establishing virtual boundaries around a point or area of interest, which generates a trigger every time someone with a mobile device intersects with them. When this happens, a notification announcing a store, brand, service, or product is sent to that person’s mobile device. Read the full article here
Thanks to predictive modeling and artificial intelligence (AI), marketers can now leverage these tools to segment audiences beyond traditional parameters and build a more accurate profile of consumers.
By using AI, it is possible to segment audiences at more granular levels and identify which ones are most valuable to marketing objectives.
Location Intelligence is transforming the way brands communicate with their current and potential customers, maximizing marketing campaigns and optimizing costs.
Location analytics leverages and enhances marketing campaigns by providing faster and deeper insights to your customers.
Mobility data analytics are transforming the way commercial strategies are defined in the retail business, and supermarket chains are no exception.
Understanding what consumers think, what they want and what they do is critical for companies in the retail sector. This is where Big Data tools play an important role, as it is possible to measure the affluence at a location and customer behavior, among other aspects.
New data management methodologies now allow retailers to take advantage of even the smallest piece of information to generate valuable insights that help optimize their marketing and customer loyalty strategies.
What promotions do we do to get more customers to the point of sale?
How do we make them stay longer in the store?
How do we improve the customer experience so that they buy more at each visit?
Food, beverages, liquor, household and personal care items are the categories that are expected to drive the rise in consumption levels in Central America during the last month of the year.
Despite the fact that 2020 has been a complex year for all business sectors, due to the covid-19 outbreak that generated a serious economic crisis in all Central American countries, sales are expected to increase considerably in December.
Between July and October 2020 in Central America the number of people trying to buy home office furniture online increased 71%, and the number of consumers looking for car insurance policies grew by 8%.
CentralAmericaData's interactive platform, Consumer Insights, monitors in real time changes in consumer habits in all markets in the region and in other Latin American countries, with fundamental information to understand their behavior, new trends and anticipate eventual changes in their purchasing patterns.
With the accelerated arrival of the new commercial reality, consumers no longer divide the world between the physical and the digital, since now the purchasing processes are a constant succession that combines both aspects.
Due to the transformation of consumer habits that had been occurring since before the covid-19 crisis and that has now accelerated, companies are focusing on understanding how people decide on the purchases they make.
With the change in the configuration of the markets and businesses, companies must think clearly, adapt to the new rules of the game and avoid, as far as possible, immediately implementing the policy of low prices.
The economic crisis resulting from the outbreak of covid-19 has changed the rules of the game in the markets at a global level. Some companies, in their attempt to stay in business, have opted to lower their prices, even to levels where they could incur losses.
Does it make sense to keep doing surveys to evaluate, for example, the ranking of a brand, when all the real, honest, and unbiased information can be inferred from people's behavior on the Internet?
"... Traditionally, when teachers or business people needed data, they commissioned surveys. They obtained data in an orderly fashion, either in figures or in boxes marked on questionnaires.
How many people live around a shopping center, how old they are, what is their consumption level and what products or services they are looking for, are some of the questions that can be answered with the new geomarketing tools.
Measuring the potential demand of micro markets, based on the evaluation of the environment of a shopping center and its comparison with other similar sales points, has become essential to design adequate commercial strategies.
A 15-minute walk from the Malecon in Managua, Nicaragua, there is a captive market of 26,000 people who together spend $17 million, and of these, 31% show an interest in alcoholic beverages.
In CentralAmericaData we developed a geomarketing tool based on interactive maps, through which you can identify where people are and what characteristics they have as consumers.
Conveying solid arguments to highlight the importance of the product or service, offering goods with long-term guarantees and being considered essential, are part of the strategies that could increase companies' sales in the new commercial reality.
The changes in people's habits that emerged in the context of the mobility restrictions imposed by the pandemic accelerated the transformation of Central American markets and completely changed the way consumers behave.
In order to reach customers who, have great uncertainty at the time of purchase and to improve the unit margin of the products sold, flexibility must be offered in the cancellation conditions to increase the probability of successful sales, even at higher prices.
In difficult times, such as the current scenario generated by covid-19, the companies that win will be those that provide greater peace of mind to their customers, even if they sell their products at higher prices.
With the reduction of advertising budgets, companies must invest in advertising on social networks, which must be complemented by organic traffic derived from content created on digital platforms.
The outbreak of covid-19 transformed the ways in which Central American consumers behave, as quarantines and measures of restriction and social isolation decreed by governments, generated abrupt changes in purchasing habits and product search.
Beverage Industry Digital Magazine established in 1942, the oldest Spanish trade journal and the only beverage trade magazine serving the Latin American beverage market. It serves soft drink bottlers, brewers, bottled water...