On Monday, The Location Based Marketing Association (LBMA) released its second annual Global Location Trends Report.
Launched at SXSW during RetailLoco, the largest annual gathering of brands and LBMA members, the report reveals major trends in usage and investments in location-based marketing as well as projections for implementing this technology in 2017.
According to a report summary provided to MMW, The LBMA’s report shows how over 500 business leaders and marketing executives from across the globe, are currently using location based marketing, what investment they’re making in it and what their future plans are for implementing this technology.
The online study was conducted in the five most important and innovative global markets for location based marketing – US, Canada, Germany, UK and Singapore and offers a detailed market by market analysis.
We’re told that key overall findings from the report include:
- Location-based ad targeting is valuable actionable and accurate according to some of the world’s top executives. Over 50% of companies are currently using location-based data to target their customers.
- 25% of marketing budgets are allocated to location-based marketing (LBM). The ability to target consumers and driving POS sales are cited as the top benefits of LBM.
- Countries are shifting more marketing dollars to LBM.
“This report proves that location data is of huge value to the world’s biggest advertisers. We are seeing a major increase in our deterministic proximity being used for enhanced attribution and targeting,” said Thomas Walle, CEO and co-founder of Unacast, the world’s largest network of proximity data. “The issue to date has been using it due to the fragmentation of the proximity industry. Unacast has cracked the code on how to effectively mirror the accuracy of online data collection in the real world. Deterministic proximity data provides not only a pervasive connection with the consumer, but also the conditions for a much deeper and more personal relationship with them. With our Real World Graph, marketers can understand their customers’ real world behavior and how they are contextually connected to physical locations with accuracy and relevancy.”