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BizReport : Advertising archives : May 27, 2016

Studies highlight importance of location, relevance

Data has been shown to dramatically increase the reach and engagement levels of branded advertising. And, according to two new studies, marketers are getting better are reading data and using it to find in-market shoppers.

by Kristina Knight

First, PlaceIQ has released findings from the Location Data Accuracy Revealed report which shows location data accuracy is improving. For example, on average businesses in Boston were accurate to within 21 meters of a consumer when serving ads; in New York and Austin, TX, advertisers were within 30 meters of the shopper.

"Location data is a critical part of every successful marketer's arsenal," said Duncan McCall, CEO at PlaceIQ. "It continues to act as a versatile resource for both informing marketing decisions across verticals and as a horizontal enabler of broader business decisions at every level. This report's goal is to educate, cut through the marketing hype, and demystify the technology that brands are using to better understand, engage with, and drive sales. Only with a foundation grounded in truth and accurate data can the broader location industry thrive. The world's most innovative brands and media agencies continue to turn to PlaceIQ's innovations in location accuracy for this reason."

Meanwhile, the type of reward offered continues to matter to shoppers, and brands need to make note of it. That's the takeaway from new Blackhawk Engagement data which shows shoppers was pre-paid rewards from their loyalty programs.

"Prepaid cards transformed the incentives industry, providing for a simple and universally accepted reward vehicle, which has been steadfastly embraced by shoppers. And Americans not only enjoy prepaid for rewards, they have widely embraced the products as payments tools and gifts for general use," said Rodney Mason, GVP of Marketing at Blackhawk Engagement Solutions, an international incentives and engagement company. "Our new research provides useful intelligence for businesses that regularly incent their consumers."

Some interesting findings from the report include:
• 64% of those surveyed say they prefer open-loop cards rather than store-specific
• 61% prefer plastic prepaid rewards cards vs digital (39%)
• 84% say they would accept digital reward codes if plastic 'was not available'

Tags: advertising, Blackhawk Engagement Solutions, data, ecommerce, PlaceIQ

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