For a variety of industries, mobile data collection is one of the most important business assets. Mobile data represents the boost that solidifies retailers’ competitive edge, helps small to medium businesses stand out in the crowd, and turns enterprise marketing and advertising into data-driven, artificial intelligence–powered platforms of the future.
Your mobile data collection strategy may be one of the key pillars that can allow your company to consistently operate above competitors—but only if you have a strategy to execute. Here are some of the insights you can gain by leveraging this data.
Creating powerful predictive models and analytics is very important in marketing technology. Sometimes going by names like data science or machine learning, this technology is perceived as being complicated. But the underlying concept is actually quite simple: cater to customers’ specific needs consistently across all channels. Your online experience should feel like an in-store visit. So don’t send emails at 1 a.m., for example, and don’t offer a customer the chance to buy an item in a category that’s not relevant to their needs.
One intuitive approach that you can implement with the help of data is lookalike modeling. If you see that a customer is looking at items another customer looked at, you can recommend items to buy: “Customers who looked at X also bought Y.”
Not only can you predict what current customers will like, but you can also use their interests to draw in new customers. For instance, Facebook offers advertisers the ability to list out existing customers and build a Lookalike Audience, which is “a way to reach new people who are likely to be interested in your business because they’re similar to your best existing customers.” By being able to correlate customers with similar interests through your data, you can offer up much more engaging messages.
When you power your marketing platform with your mobile data collection strategy, it can personalize how you engage with every single customer based on what you know about them, including their location. Mobile data is one key asset to this process. As stated in Adweek, “Thanks to innovations in location intelligence, marketers can now leverage real-time data to better target consumers based on where they go, effectively measure how digital ads drive foot traffic into stores, and even connect the consumer journey from ad exposure to store visit to purchase data.”
Combining the idea of customers’ wants and needs with their physical location really creates dynamic customer profiles, or more realistic models, to better target and manage the interests of customers. In the past, businesses may have looked at a few factors when considering what to send out to customers, but now these powerful models can look at thousands of data points.
One of the final insights you gain when implementing a strong mobile data collection strategy is understanding if and when your customers engage with you, and with what frequency. Using mobile data, today’s platforms can analyze which customers view your marketing emails, and when they read them. This allows you to continue to engage with the right customers and to send emails at the optimal time for engagement. You can learn your customers’ preferences and display messages during their morning coffee, lunch break, or whenever.
According to experiments by marketer Growbots, “You can almost double your conversion rate, just by optimizing your send time.” You can even individually tune the number of messages your customers receive. If you have customers who consistently engage with all your messages, consider increasing the frequency when you see that they’re interested.
A comprehensive mobile data strategy is one of the key ways you can begin to optimize your marketing message to your customers.
To read more about how mobile data can help you see the whole picture, read this blog post.