According to a recent report, the value of location-based services and data targeting is increasing worldwide, but marketers are still concerned about the accuracy of the data.
The Location Based Marketing Association (LBMA) recently reported in its Global Location Trends report that as location and targeting data increases, marketing using location data is on the rise. In a survey of 871 corporate marketers worldwide, 7 out of 10 respondents said location-based marketing was important or very important.
LBMA pointed out that the government's use of location data for contact tracking due to COVID-19 has had a significant impact on changing the perception of location data to raising public health awareness beyond promotion or promotion.
As a result, 80% of respondents believe that location-based services and ad-targeting data are valuable, and 81% see it as viable. In the Asia Pacific region, these figures were 79% and 81%, respectively. However, only 57% of global respondents believe the current location-based service ad targeting data is accurate, and 53% of Asia Pacific respondents said yes.
In addition, according to the report, 95% of global companies are already using odor-based services and data to reach customers, up 10%p compared to last year and 18% compared to 2018.
In addition to the targeting function, examples of location-based marketing cited in the survey include making brands more evident (21%) and promoting sales in PoS (17%).
Overall, 52% of the marketing budget was used for location-based marketing, especially in North America. In the Asia-Pacific region, it is 49%. However, considering that 28% of global companies say they are making a 'large investment' in location-based services in 2021, the location data budget is expected to increase in the Asia Pacific as well.
According to the report, respondents said they are considering digital outdoor advertising increased 11% year-on-year in North America, but also increased evenly in other regions. Two-thirds of all respondents perceive digital outdoor advertising as a location-based medium. In the Asia-Pacific region, mobile, online, radio, and billboards are considered location-based investment areas.
In terms of location-based technology, Bluetooth technology is the most widely used. 49% of respondents said they increased their investment in Bluetooth technology in 2020. Beacon technology (78% worldwide, Asia Pacific and 75% China) followed, followed by Wi-Fi (60% worldwide, 64% Asia Pacific), and GPS (52% worldwide, 50% Asia Pacific). . In the case of NFC, a 22% decline in the Asia Pacific region.
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