Reasons Why 2010 is The Year of Location; the Importance of Hyper-Local, and How to Leverage Location:
1. Immediacy: Location inherently breeds immediacy and action. If a consumer is at a location, close to a location, or close to a contact, they’re more likely to purchase (if they’re there), travel to purchase (if they’re close), or meet up to share (close to a contact). Immediacy enables actionable behavior, and actionable behavior is valuable because it provides measureable results.
2. Measurable results: Using location and proximity to measure effects is easier than measuring what happens when eyeballs read a tweet. Retailers can use the location-based technologies to further understand their consumers. When consumers check into a location, data such as when consumers visit, how often they visit, and their behavior before and after they visit becomes valuable. With added incentives from brick and mortar stores partnering with these technologies, it is valuable through the information they can receive.
3. Laser pointer theory: Think of the world as your company’s target – with no map, you’ll fire all over the globe and hit a fraction of your targets. This happens in business too- intentional or unintentional displaced messaging is the result of mis-firing and ill-placement. With location, companies can laser pinpoint and succeed. Misguided marketing and advertising no longer need to be the standard. Marketing and advertising are sometimes described as an art. In 2010, they become a science.
How to Leverage Location The convergence of location-based digital companies and brick and mortar physical stores are breeding a new type of commerce – digital mortar. Surely different business models will yield different ways to capitalize on it and you can approach it from any angle. But, the main outcome should always be deeper connections with your consumers and increased value from your company.