Location intelligence provides actionable insights that effectively map the car buying journey
New York, NY (September 18, 2018) – Two-thirds of automotive marketers are highly familiar with using location data to measure the lift of store visitations, and more than half are highly familiar with using footfall trends to understand their visits versus those of competitors, according to a new whitepaper “Navigating Location Intelligence: Critical Impacts for Automotive Marketers”.
The findings, examining the state of location data in the automotive industry, are part of a larger study commissioned by location intelligence leader Cuebiq and conducted by information technology research and advisory firm 451 Research. The report is based on primary research survey data through the lens of the “on the ground” experience and opinions of respondents who are responsible for marketing or CRM efforts in the automotive, retail, quick-service restaurants and banking industries.
When assessing potential use cases for location data, automotive marketers are most likely to leverage it to plan social media ad campaigns (76%) and measure the impact of marketing on visits to dealerships (71%). 68% are looking to utilize location data to tailor promotions to driving patterns, plan digital ad campaigns, and gain competitive intelligence based on dealership visitation. In fact, 84% expect the role of competitive intelligence in their marketing strategies to increase over the next two years.
“Aggregated trends derived from anonymous location data help unify the customer journey in the digital and physical worlds, so automotive companies can increase engagement, boost revenue, and gain a leg up on competitors. Furthermore, auto marketers can incorporate real-world insights into their messaging in order to better reach and resonate with the right potential buyer,” says Antonio Tomarchio, CEO of Cuebiq. “For purchases that are as personal, expensive and long-term as a car, the ability to identify strategies that impact brand loyalty is essential.”
While automotive and traditional retail both face the hurdle of getting customers to travel to a physical location to make a sale, prospective car buyers tend to do a bit more cross-shopping for cars than they do for other goods. As one of the most expensive and complex purchases the average consumer will make, getting a customer onto the dealer lot is of paramount importance for a sale. Moreover, losing a sale to another dealer has lifelong customer-value ramifications.
There are key differences for automotive marketers from their peers in other verticals:
- They are most sensitive to the moves their competitors are making out of all sectors surveyed—58% cited ‘pressure from competitors’ as a driver, 12 percentage points higher than their counterparts.
- 61% of automotive marketers are much more likely to cite the need ‘to integrate online and offline promotions’, compared to 44% of the respondents overall.
- They are also significantly more likely to be sending promotions when customers enter a geofence (52% automotive, compared to 29% in other retail segments).
- Automotive marketers are self-reportedly more “mature” when it comes to creating marketing campaigns that connect online and offline behavior (42%) and prioritized it more than other verticals surveyed
Cuebiq commissioned the report with 451 Research to better understand the needs of marketers from various sectors as it relates to location-based data. Cuebiq’s proprietary methodology enables anonymous collection of location data and analysis of aggregated offline trends, helping marketers with brick and mortar sites better understand the offline consumer journey, analyze location performance, and measure marketing activation effectiveness.
Cuebiq is also GDPR compliant, providing partner apps with a turnkey solution to protect users’ information, as well as systems for improved consent and opt-out management, including a proprietary app that provides users with an additional way to exercise their privacy rights.
A copy of the white paper can be downloaded here.
Cuebiq is a leading location intelligence and consumer insights company leveraging the largest database of accurate and precise location data in the U.S. Its data intelligence platform analyzes anonymous location patterns to allow businesses to glean actionable insights and better understand the offline consumer journey. Cuebiq’s SaaS platform provides clients offline location analytics, real-time campaign optimization and footfall attribution, as well as geo-behavioral audiences for cross-platform ad targeting. Cuebiq is headquartered in New York with offices in San Francisco, Chicago, Italy, and China.
Cuebiq has also been a leader in utilizing data and insights in the service of a variety of causes. Through its “Data for Good” initiative the company shares its location insights with researchers at top universities and nonprofit organizations to drive innovation for causes such as improving quality of life in underserved communities, natural disaster response, and smart city development.
To learn more about Cuebiq, please visit www.cuebiq.com