Although marketers have not always been keen to use the data at their fingertips, new research suggests that more of them are looking to take advantage of analytics in the coming months.
Forrester and Google recently published “The Future of Analytics” report, and statistics showed that overall, most marketers (17%) intend to make improving their use of data and analytics the top priority over the next 12 months. This was followed by acquiring more customers (14%), increasing customer lifetime value (11%), improving marketing alignment with other departments (11%), and improving the ROI/effectiveness of media and advertising (11%).
In general, the majority of marketers (43%) say that their current digital analytics technology has helped improve the customer experience. Forty-two percent claimed that it has improved marketing campaign outcomes, while 39% stated that it has improved the ability to understand the full customer journey.
Leveraging Location-based Data for Marketing Purposes
Location-based data, in particular, has proven valuable to marketers compared to other types, according to previous research.
FourSquare and Advertiser Perceptions conducted the “Location Data in a Marketing Lifecycle” report, and statistics suggested that above all else, marketers are turning to location data, specifically, to identify new consumer markets (73%).
In addition, they are utilizing this type of data to measure and quantify their return-on-investment (65%) and offer personalized customer experiences (65%). Those who have been using location-based data have seen improved engagement/receptiveness (48%) and improved ROI (48%).