One of marketing’s grand new frontiers is taking advantage of the location data from Internet-connected devices. A study from Grand View Research finds that the total “location of things” market will grow from $5.6 billion in 2016 to $71.6 billion by 2025, a breakneck pace of 34% per year. Media and marketing are expected to account for about one-quarter of the market.
Indoor mapping is one of the most intriguing location-related applications. Mappedin helps retailers build maps of their locations and use them to create “digital wayfinding experiences” on mobile apps. They’ve just announced an integration to make their applications available on Apple mobile devices and, not-so-incidentally, provide property owners with data on user behaviors.
Can ad exchange bids provide a useful source of location data? A study from Placed, which captures location data from apps, found that only about 1% of ad exchange bid requests provide out-of-home locations accurate enough to measure in-store traffic. It's self-serving but nevertheless worth reading for an excellent explanation of the data quality issues.
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