JERSEY CITY, N.J., Aug. 02, 2018 (GLOBE NEWSWIRE) -- New research from Forbes and the SITO Institute for Consumer Behavior and Location Sciences shows how high-performing marketers (exceeding growth plans by over 25%) are achieving 5% better returns on marketing investments and over 7% higher levels of growth performance by deploying data-driven marketing performance systems to make better decisions about marketing resource allocations, creating better brand engagement, demand generation and sales outcomes. Download the report here: https://bit.ly/2vr5zgO
Location intelligence has emerged as the critical ingredient to building predictive real-time marketing measurement models that create value and growth at scale across the entire marketing mix. Mobile media and applications represent the world’s largest living data universe, with an installed base of 2.8 billion users who spend 3.3 hours a day on smartphones.
“The Forbes report shows that location data is (or should be) the cornerstone of consumer insights that drives go-to-market strategies. The ability to track consumer behavior over time and in-the-moment allows for real-time marketing and personalization, which leads to better customer engagement, improves marketing efficiency and drives better business outcomes that impact enterprise value,” said Bruce H. Rogers, Founding Managing Director of the SITO Institute for Consumer Behavior and Location Sciences.
“Location-based data insights can help organizations unlock significant value by eliminating the obstacles to aggregating, integrating and developing models that connect online and offline channels and by demonstrating the downstream sales impact of upper funnel marketing investments and actions, improving measurement competency, customer understanding and marketing effectiveness,” said Stephen Diorio, Principal Analyst for the Forbes CMO Practice and the author of the report. “We’re pleased to partner with the SITO Institute to bring this practice to light.”
The report further shows that location-based attribution and targeting analysis has emerged as a key organizational competence, improving measurement capabilities, customer understanding and marketing effectiveness. Leading brands in the automotive, restaurant, retail, entertainment and media industries are using location-based customer behavioral data to create enterprise value.
The research identified three ways that high-performing marketers are taking advantage of real-time location intelligence insights to improve marketing performance. Highly accountable marketers are partnering with top location insights providers to:
- Establish a process to continuously improve location accuracy and precision by aggregating location intelligence from multiple data sources and validating it by cross-referencing visitation, cartographic, pattern and device data.
- Systematically resolve location-based intelligence around a single customer identifier to connect online and offline media and customer touch points and attribute upstream marketing actions to downstream sales outcomes using multi-touch attribution.
- Incorporate location-based insights into multi-touch attribution and marketing mix models to understand the performance of more elements of the marketing mix and stages of the journey to better support marketing strategy, targeting, investment and resource allocation.
Learn more about the research here: https://bit.ly/2vr5zgO
About SITO Mobile, Ltd.
SITO is a leading mobile data technology company that provides brands customized, data-driven solutions spanning strategic insights and media campaign delivery services. Through Consumer Behavior and Location Sciences™, SITO explores the consumer journey and presents powerful strategic knowledge assets and actionable insights for executives and strategic decision makers looking to understand and influence consumer behaviors.
Brands and agencies rely on SITO as a strategic partner for real-time understandings of customer movements, interests, actions, associations, and experiences, ultimately providing increased clarity for better business decisions. The Company is headquartered in Jersey City, New Jersey and its common stock is publicly traded on the NASDAQ Stock Market under the ticker symbol “SITO.” For more information regarding SITO’s science, technology and solutions spanning media and research, please visit www.sitomobile.com.
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