The Geo-Weighting Evolution
Many of us may remember the world before the Internet became a household name – in some ways, these were relatively simpler times: TV was an escape (VHS tapes were our rescue), print was king, Mark Zuckerberg was practically a baby, and Marketing was far more segmented, but far less personalized. What’s more, marketing campaigns had inherently geo-defined targets, where marketers had no choice but to treat everyone in the same ZIP code or domestic market area (DMA) as the same.
Fast forward to today, and the world as we know it is buzzing with all things digital – and marketing is at the forefront, it’s omnipresent, and it’s more dynamic than ever.
What’s more, digital advertising has changed marketing budgets forever, and consumers’ location data has individualized geo-targeting.
At the same time, however, we’re still struggling to conquer some of the challenges of the past: driving outcomes in-store, or where 90% of today’s consumers continue to shop, albeit the immediately accessible landscape of ecommerce.
Geo-Targeting, a means of delivering various marketing content to a particular user based on that user’s location (anywhere from a large-scale country segment to a granular IP address), aimed to help solve this challenge by reaching proximate in-market shoppers. At the same time, Geo-Targeting on its own is a catch-all; it’s too broad to solve the varying challenges faced by often very different stores selling very different products. So marketers dug deeper – attempting to fence in and score by location to more accurately drive in-store outcomes through aptly named Geo-Fencing strategies.
In essence, the Geo-Fencing approach closes in on predefined locations using ZIP codes and DMAs, and therefore predefined audiences – targeting only the high-scoring users (as determined by past performance and fixed location). This has produced a location-centered cycle that has proven too rigid to work in today’s ever-fluid marketplace.
Clue: Geo-Fencing isn’t all it’s cracked up to be. Consider this instead: Geo-Weighting, a new technology powered by second-party data that targets at the user-level.
The spot on solution: ownerIQ’s cutting-edge Geo-Weighting technology considers users near a store, but treats each user differently depending on individual interest (determined by browsing behavior) and distance from a store (determined by latitude and longitude). After all, shoppers are a unique bunch and should be treated as such.
Think you’re caught up? Think again. Get all the details on Geo-Weighting, the good stuff, in our new eGuide. Opening the Gate to Geo-Weighting, delves into popular Geo-Targeting techniques used to drive consumers in-store and explores why it’s time for such techniques to evolve. Learn to:
- Target via user-level proximity to drive your shoppers to physical store locations with Geo-Weighting
- Use intelligent audience data to reach in-market buyers potentially outside an arbitrary radius.
- Solve the issue of wasted ad impressions by targeting consumers based on location and user-data vs. location only.
- Increase lift in conversions by 3X and reduce CPA by 63%