Idea in Brief:
- Geospatial intelligence in marketing is a growing vertical with a valuation of $4 billion spent only in 2021.
- Marketers are integrating geospatial data into all stages of product marketing to bring an added dimension of environmental factors to increase sales.
- Ambee’s geospatial intelligence has applications in all sub-sectors of marketing and sales units. It enriches the campaigns and brings efficiency into marketing efforts.
Geospatial intelligence, empowered by a network of satellites and on-ground sensors, was designed initially for life-science research in geology, epidemiology, and other sciences. Interestingly, however, with the myriad insights this data provides, it has today manifested itself across numerous industries, affecting critically important matters, from climate risk modeling to national intelligence.
Since the insights derived from the data are a product of monitoring thousands of events at once, cross-functional teams can put pertinent data to use. This characteristic of geospatial data provides enterprises at all levels the chance to extract actionable insights to make reasoned decisions. Some examples define the adeptness of geospatial intelligence.
- Utilities providers can plan and analyze the performance of thousands of miles of power and water lines.
- Retailers can use geospatial data to track shipments, schedule orders, and manage other supply chain processes from vendors.
- Wind and solar installations can use geospatial data to understand topography, detect desirable conditions, and build new plants.
Most recently, geospatial intelligence has made its way towards marketing use cases due to its precise location-based data. Several firms are working with geospatial intelligence providers to track the region of their target audiences. Geospatial data is getting more attention from marketers across all verticals and is projected to have a market size of $59.5 billion in 2021. Marketing experts have started implementing strategies integrated with demographic, geographic, purchasing, and spending characteristics with geospatial intelligence to accurately segment your customers. Some of the benefits of applying geospatial insights for planning and strategizing:
Cost savings by optimizing the basics of marketing processes is one way to use geospatial data. Logistics companies can identify weather patterns and route characteristics with insights from geospatial data to design the most effective route for transport. Marketers can identify the regions where their products can get the maximum traction in targeted advertising and spend more in those areas. Doing so will help marketers reduce costs and optimize their advertising budget to spread it across different locations.
The popular department store Sears has implemented a geospatial analytics program to optimize its truck routes. The program helped the company’s technician-dispatching and home-delivery business, resulting in more than $9 million in one-time savings and around $42 million in savings annually. The data-driven program has motivated the company to fulfill tasks more efficiently and simultaneously improve its customer services.
Be it communication between employees and customers or while designing a pitch for marketing a new product, geospatial intelligence will boost communication. At present, 50 to 85% of data used by organizations for fostering marketing communications includes geospatial parameters. Location, weather, and other environmental parameters are factored in to support the sales teams alter the pitch accordingly. Trends, tastes, target audience, and preferences of companies differ depending on the product they have to offer. Hence, the omnifarious quality of geospatial intelligence helps fulfill this need. Along with a boost to communication, this process can also enhance relevance and personalization.
Enriched Market Segmentation
Combining the power of geospatial data with traditional marketing resources helps companies take full advantage of environment-based intelligence tools. The primary function of these tools is to help marketers with segmentation efforts based on various parameters. Simply put, marketers cluster their target audiences based on conventional data such as page viewership, email opens, and website traffic. With geospatial intelligence, they can segment their customer base by adding another dimension to it. Weather, location, and other environmental factors will help marketers divide the customers based on their preference on that particular day in that specific region.
Effective Marketing Campaign Design
With each day, geospatial intelligence is being evangelized for providing companies a better framework for conceptualizing the marketing and sales action plan. Incorporating geospatial insights while constructing digital marketing campaigns drives the overall effectiveness of marketing efforts. Custom marketing mixes to target customers based on environmental factors have increased conversion rates for products. For example, a potential customer looking to buy sneakers searched “jogging shoes” on Google in Manhattan. A sneaker brand with its retail outlet in Manhattan can direct this potential customer straight to their store or recommend a suitable pair based on the area’s weather conditions. If this brand did not use geospatial data, the searcher would get a random nudge to visit the brand’s site or a variety of shoes that do not fit the requirements resulting in a lost sales opportunity.
Companies are thus preferring to adopt geospatial data as it helps better understand, manage and improve decision making while strategizing marketing campaigns. With geospatial intelligence in place, customer retention also increases, creating a loyal customer base. Geospatial insights bring efficiency to the system. Its integration with a centralized cloud makes operations transparent, enabling better customer engagement.
Positioning of Emergency Responders
One of the many benefits marketers experience from geospatial intelligence is the easy identification of places to position emergency responders. Large companies with physical assets across or multiple retail locations across vast geographic areas install emergency responders as part of the market communications disaster recovery plan (MarComDRP). Placing these devices is critical to managing disastrous situations or day-to-day operations in crisis effectively. Marketers also use these devices as an onsite tracker to understand customer traffic and maintain efficient logistics. Doing so saves time, effort as well as money for the companies. Marketers have the flexibility to interpret various types of data and maximize the effectiveness of the physical assets with geospatial intelligence at sight.
Marketers use geospatial intelligence to handle challenges related to discovering, engaging, and activating the desire to shop amongst customers. Understanding when to use geospatial data is difficult, but with environmental intelligence company, Ambee, marketers can get actionable insights that assist them in making data-driven decisions.
Ambee is an environmental intelligence startup that provides geospatial data for multiple parameters such as weather, air quality, pollen, soil, fire data, and beyond. The expert team at Ambee gives companies renewed avenues to market their products sustainably while making conscious data-backed decisions.
Ambee manages massive data sets and consolidates them into one place to interrogate them and find insights. With Ambee’s geospatial intelligence, marketers will be able to develop applications that customers trust and use as that is where the future is going, towards precise marketing based on geospatial insights.
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A writer, nature lover and an environmental engineer. You can find me at Ambee’s office working with an amazing team to bring about positive change to our planet’s health. Being a big advocate of our environment, I write about technologies like AI, ML and Big data and its potential to save humankind from global warming.