We’ve all heard it before, location, location location. Since we’re human, we want everyone to know what we’re doing, how we’re doing it, why we’re doing it, and where we’re doing it.
And where I am right now is a precious piece of information, a few thoughts?
Leveraging location is about following a new kind of cookie, one that tracks users from the morning. Tonight, we wake up in the morning and grab the phone beside us!
We travel to work listening to the radio and interacting with billboards along the way, we take a lunch break and are influenced by digital menus, we go shopping and receive push messages saying our purchase decisions. And when we get home, some of us are still watching ads on TV.
Through all of this location is the only piece of data that enables us to see where you are and what media is nearby. And this is already a huge market.
There are over 3 billion smartphones in the world. In 2019 88% of brand marketers used location data to target customers, and 71% of those consumers responded to location specific offers changing from one brand to another.
Investments in mobile and location-based advertising will surpass $96 billion by 2021. By 2023 half of the consumer vehicles in use will have at least one connected feature.
The total value of mobile and online coupon redemptions will rise from $47 billion in 2019 to $90 billion by 2023.
Voice commerce will surge from $2 billion today 240 billion dollars in 2023. By this time next year, 50% of search will be initiated via voice enabling brands to reach us while searching on the move. And who are these location loving consumers?
57% of them are millennials, 46% are adults with kids, and 40% have incomes over $150,000. It’s all about connecting people, places and media.
It seems so simple, and it’s so easy to know my location. It’s right here in my smartphone. So help me get to where I’m going, or I’ll just go with someone else.