Location-based advertising and marketing technology has seen tremendous growth and improvement in 2016 according to this Adweek Article. Thanks to innovations in location intelligence, marketers can now leverage real-time data to better target consumers based on where they go, effectively measure how digital ads drive foot traffic into stores, and even connect the consumer journey from ad exposure to store visit to purchase data. It allows consumer obsession with mobile devices to create significant amounts of data and insights that drive critical decision-making for a wide range of businesses.
But since the space is still nascent, marketers should expect evolution in the year ahead. Here are five predictions for location intelligence in 2017:
1. Location intelligence companies will consolidate As location intelligence comes into its own, there will invariably be consolidation. No industry or sector can avoid this when there are this many competitors in an exploding industry.
2. Clients will demand more transparency There’s a lot of talk about transparency in location intelligence on the client side, but when push comes to shove, many agencies and marketers currently look the other way.
3. Publishers will rely on real-world attribution to prove out their value Over the past 20 years, analytics for digital ad measurement have focused on digital results (including web traffic, ecommerce conversion and data collection).
4. Location will become much more than a check-the-box strategy Marketers are missing a massive opportunity to impact their business if they don’t take location seriously. Data is only as good as the insights derived from it and the business decisions made from it.
5. Everyone will shift more toward mobile (and more toward location) Location is mobile, and as Benedict Evans at Andreessen Horowitz put it, “Mobile is eating the world.”