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.
Analytics based on Big Data allows mall operators to maximize revenues and visits by better selecting tenants, optimizing mall design, determining rents, establishing signage and advertising campaigns, etc.
New technological tools allow mall operators to measure the number of consumers spending in and out of stores, the time they spend in and out of stores, know their relative wealth index and understand visitor behavior patterns, helping to determine the best mix of stores, site infrastructure, rent price range and implement more efficient signage and advertising.
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?
Thanks to advanced Big Data techniques that make it possible to collect and analyze large volumes of mobility data, it is possible to establish where consumers live and where they go before visiting a shopping mall or supermarket.
Today, business leaders have access to Business Intelligence solutions that are based on millions of anonymized data generated every second by cell phones, records that allow increasingly accurate estimates of the levels of affluence received by commercial establishments.
If the products and services sold include aspects that are highly valued by customers and our prices have evolved below market rates, it means that it is feasible to raise marketing prices.
Ariel Banos, founder of Fijaciondeprecios.com, describes the signs that should be analyzed by businessmen at the moment of applying an increase in the prices of the products and services marketed.
During the first half of 2021, consumers in Central American countries increased their interest in comics, martial arts, motorcycles, vegetarian food, spa services, air travel, weight loss products and sporting goods.
Through a system that monitors in real time changes in consumer interests and preferences in Central American countries, developed by CentralAmericaData, it is possible to project short- and long-term demand trends for the different products, sectors and markets operating in the region.
During the first quarter of 2021 in the countries of the region, consumers increased their interest in beer, motorcycles, vegetarian food, spa services, air travel, extreme sports and apartment rentals.
Through a system that monitors in real time changes in consumer interests and preferences in Central American countries, developed by CentralAmericaData, it is possible to project short and long term demand trends for the different products, sectors and markets operating in the region.
Defining the design of a shopping center, determining the mix of store types and the optimal size of stores to maximize the benefits of commercial areas, are objectives that can be achieved through the proper analysis of large volumes of data.
The volumes of data being generated in the digital environment every second enables business leaders to make well-informed decisions that are based on the analysis of empirical evidence.
Deploying all the analysis capacity to identify and value the differentials of the proposals, so that the customer is aware of the additional value of the products or services they will buy, is key to sell at higher prices.
Ariel Baños, founder of Fijaciondeprecios.com, exemplifies one of the cases in which strategies to sell at higher prices can be applied and explains the factors that influence this type of scenarios.
The large volumes of information that are generated at every moment in the digital environment allow transforming data into maps, tools that serve for the development of Business Intelligence solutions that are used by business leaders in all sectors.
After associating spatial or geographic information with phenomena that decision makers are interested in knowing and analyzing, it is possible to transform the data into digital maps, tools that allow companies to understand the environment of the locations of a commercial establishment, optimize their commercial routes, among other uses.
At the end of January 2021, Nicaragua and El Salvador were the only two countries in the region where the number of people visiting establishments identified as supermarkets was similar to the figures reported before the pandemic.
As the months have gone by and in the context of the reactivation of commercial activities, more Central American consumers have visited locations identified as supermarkets and pharmacies.
In order to obtain truthful and accurate information free of any bias, it is preferred to analyze consumers through their online behavior, because when conducting traditional surveys, people tend to lie to give a good impression.
Although the most recommended is to analyze large volumes of data that are generated by consumers when interacting in the digital environment, surveys can work under specific conditions.