Location data offers insight into millennial preferences
Location data can offer vital insights to marketers on customer behaviours, particularly hyper-connected millennials, according to an industry expert.
Aditi Kohli, General Manager for Near - an ambient intelligence platform - in Southeast Asia and Hong Kong, believes that location data is typically under-utilised by marketers.
Speaking at the recent MRMW conference in Singapore, she argued that such data can not only help map customer journeys, but can offer depth to data-driven decisions and cross-channel marketing, particularly on mobile devices.
"You are basically what places you visit," Kohli stated. (For more details, read Near’s report here: Understanding APAC millennials with location data.)
"That (location) identifies you as what kind of person you are. If you are going several times to a golf course between 9am and 12pm on a Saturday afternoon, I would probably describe you as a golf lover."
Building audiences by location can also be a useful segmentation in a variety of categories, such as financial services and automotive.
"We started to see what kind of banking institutions millennials are going to, what kind of financial centres they are going to, what kind of financial apps they are accessing,” Kohli explained. “Then we categorised them according to whether they were savers over a period of time".
Another way brands can benefit is from studying social and location graphs provided by search and social media.
For example, in Hong Kong, one in every four mobile users taps location-based search, with car purchases revealed to be the top priority for millennials.
"Specifically in Hong Kong, car purchase seems to be one of the top spending categories, with three in four males prioritising in purchasing a car," Kohli said.
Also mentioned in Warc.