Ask a Location Intelligence Expert: How Does Ad Audience Targeting and Testing Drive Effective Campaigns?

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Our location intelligence experts are often asked about the effect location intelligence can have on marketing campaigns, ad audience testing, and how these things can drive an effective campaign.

Do you know your target audience? In today’s highly-competitive advertising ecosystem, this is essential. As society grapples with economic uncertainty, consumer behaviors and interests are likely to ebb and flow over time. To effectively reach your audience, it’s important to understand their evolving preferences and demographics.

Brands that invest in targeted advertising strategies can stay ahead of the curve and reach the right audience at the right time. Regular audience testing is crucial to this process. Through testing, you can better understand your audience, keep track of any shifts in their behavior that may be happening, and more.

By experimenting with different approaches to audience targeting and testing, you can gain insights into what resonates best with your audience. Incorporating geospatial data into your advertising strategies can provide an extra layer of depth and precision to your audience targeting and testing. This can give you a competitive edge in the crowded advertising landscape.

Benefits of Ad Audience Targeting and Testing with Location Intelligence

Audience targeting and testing helps to narrow down your audience. At the end of the day, ads should be served where they matter most. Here are some advantages of ad audience targeting and testing with location intelligence derived from geospatial data:

Greater Levels of Interest and Intent

Audience targeting allows you to know who is in-market for your product or service. This gives you a sizable advantage over those who are making guesses using low-quality data. Traditional targeting relies on consumers’ online behavior, so there is no viable way to see the differing levels of buyer intent your audience may have. However, with location data, marketers have the ability to identify different levels of intent or interest among their audience. This is because consumers who have physically visited a location—and have invested their time and money to go there—show a much higher degree of interest than those who have simply visited a website.

Increased ROI (Return on Investment)

You might be thinking, “Well, why don’t I pick my business’s largest, most relevant audience?” Selecting the largest audience available for your campaign is a common mistake. Advertising to a wide audience can result in ad waste. While it may increase ad reach, you will pay for a lot of impressions that likely won’t convert. By leveraging location intelligence, you can create a much more targeted audience likely interested in your products or services, resulting in higher conversions and ROI.

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Effective Retargeting

It’s important to keep your customers in the loop to build loyalty. Brand loyalists are valuable assets because they are quicker to make repeat purchases, and their cost of acquisition is lower than new customers. Not only are they providing you with additional sales, they can even become evangelists who help to spread brand awareness. Retargeting them when your new products or updates is a must.

Retargeting is also important when attracting new customers. 92% of prospects that visit your website aren’t ready to buy yet, so retargeting those consumers can help them convert. With location intelligence, you can improve the effectiveness of your retargeting strategies by targeting consumers who have shown higher levels of interest or intent based on their real-world behavior.

Improve Your Audience Targeting and Testing with Location Intelligence

To ensure the effectiveness of your ad campaigns, it’s crucial to regularly reassess your target audiences and explore the potential of location intelligence. At Unacast, we use geospatial foot traffic data to create consumer personas and advertising audiences. This is all based on the places of commercial interest that consumers visit. For example, the “In-Market Auto Buyers” audience includes consumers who have visited several different varieties of dealerships, whether it be for budget or luxury cars. There are also more specific audiences such as “Auto Buyers – Eco Friendly and Socially Minded.”

You can also leverage location intelligence for a competitive advantage by gaining visibility into your competitors’ customer base. By advertising to your competitors’ customers, you not only increase the potential for converting them to your brand but also establish a loyal customer base for your business.

Frequently Asked Questions

Discover how analyzing real-world movement patterns can reveal valuable trends in customer behavior, optimize business operations, and enhance strategic decision-making.

What is site selection and why is it important?

Site selection is the strategic process by which businesses identify, evaluate, and choose optimal locations for their operations. This process is paramount as the location of a business directly influences factors such as accessibility, visibility, profitability, and market longevity. For retailers, the right site can mean higher customer footfall and increased sales. In real estate, a well-selected site can promise lucrative returns on investment and tenant stability. Financial service firms leverage site selection to position their branches or ATMs in high-demand areas. Essentially, site selection plays a pivotal role in ensuring the success and growth of a business by aligning its physical presence with market opportunities and demands.

How does location intelligence enhance site selection?

Location intelligence refers to the harnessing of geospatial data to derive actionable insights, which can significantly enhance the site selection process. By analyzing data like consumer demographics, foot traffic patterns, competitor locations, trade area data, and more, businesses can make more informed decisions about where to establish or expand their operations. Location intelligence allows for a deeper understanding of market dynamics, revealing hidden opportunities or potential pitfalls. For instance, retailers can identify gaps in the market, real estate professionals can forecast property value trends, and financial service providers can assess areas with high customer demand. Advanced tools, like those offered by Unacast, further refine these insights by leveraging AI and machine learning, enabling more precise and timely decision-making.

What challenges do businesses face in the site selection process?

Unacast provides invaluable support to businesses during the site selection process through its advanced location data and analytics software, all powered and refined by Artificial Intelligence and Machine Learning technologies. The company offers a suite of products designed to deliver accurate, actionable, and comprehensive location intelligence. This data proves crucial for businesses looking to understand consumer behavior, analyze traffic patterns, evaluate competitor locations, and much more. With Unacast’s robust tools, businesses in retail, real estate, and financial services can derive insightful information necessary for making strategic, informed site selection decisions. The platform not only provides reliable data but also ensures it is readily actionable for businesses, whether they are looking to open a new store, invest in property, or expand their financial services to new locations.

What types of location data are crucial for informed site selection?

Demographic data offers insights into the age, income, and lifestyle of people in a particular area, helping businesses understand their potential customer base. Foot traffic data provides information on the number of people visiting a location, which is crucial for retailers to estimate the store's potential popularity and for real estate professionals to assess an area's vibrancy and demand. Geographic Information System (GIS) data helps in visualizing and analyzing geographical details, supporting companies in identifying accessible and strategically located sites. Understanding the proximity to competitors, accessibility, and the socio-economic profile of the surrounding areas is also vital. Unacast’s platform aggregates and analyzes these various data types, providing a holistic view that significantly empowers businesses in their site selection endeavors.

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