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BizReport : Advertising archives : December 04, 2015

Top 4 LBS tips for 2016

Location, location, location. According to one expert, location will be a crucial part of brands' 2016 success. Here's why.

by Kristina Knight

Location will be a key player in new attribution models.

"2016 will witness a huge push toward more robust attribution models. Location will be one of the key reasons that new attribution models leapfrog existing ones with a new level of precision," said Tony Longo, Co-Founder and CEO, Ground Signal. "With the recent scale of mobile and social, location has transformed a simple data point to a rich data layer. We predict that several companies will design/evolve platforms to allow marketers to better predict advertising's effect on buying decisions before the end of the year."

Marketers will get closer to the Omnichannel Holy Grail.

"Marketing is no longer about broadcasting, instead it's a two way conversation. Omnichannel strategies will bring personalization to a whole new level as marketers demand access to insights available through one centralized platform. More and more, performance will be tied to insights and activations, with the end goal of true 1:1 personalized conversations," said Longo.

Marketers will use social media to drive merchandising.

"The advent of the buy button, with access to real-world audiences and influencers in specific locations, will elevate social media from a 'nice to have' to a 'must have.' Without a social strategy, marketers will miss the opportunity to understand existing and potential customers. They will miss the opportunity to engage prospects, understand pain points in real-time and drive ROI.

There will be an avalanche of consolidations ahead for mobile and video technology.

"We'll continue to see consolidation as larger players acquire mobile and video solutions in the coming year to fill out their platform offerings," said Longo.

Image via Shutterstock

Tags: advertising, advertising tips, advertising trends, Ground Signal, location based advertising

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