One of the biggest challenges faced while developing a retail app is to stick to the objective of providing “true” value to customers. For that, it is necessary to understand customers closely and create differentiated offerings based on their preferences. In such cases, applications with geolocation for brands will help to derive precise choices of customers based on their behaviour. Further, brands can analyze customer data to increase lifetime value and maximize retention rate.
What does location-based marketing bring to brands?
Today’s systems or applications are well equipped to target their audience upto certain extent. The techniques like mass email and cold calling have become old school. New age marketing involves location-based targeting to reach customers and stay competitive which brings another level of opportunity for brands.
- Create Customer Loyalty Programs
Customers feel motivated while participating in loyalty programs and spend more time with the brand. Retail companies should grab such emotions and add location-based information with personalised experience. This will eventually help them acquire and retain more customers in a shorter span.
- Increase Customer LTV (Life-Time-Value)
Increasing LTV should be a priority for any e-commerce and e-retail store operator to increase profitability. Marketers are doing a great job convincing prospective customers to buy products. Leading brands are work hard to transform customers into brand ambassadors thereby increasing their Life-Time Value (LTV). Location-based advertising provides the best option for brands to improve LTV of their customers.
- Post Purchase Customer Experience
In today’s increasingly competitive landscape, where choices are abundant and brand loyalty is almost nonexistent, customers need a reason to believe and trust the brand. Remarketing them through email and Facebook or creating a subscription model or VIP club is not enough to bring them back to the website/store and order again. Those initiatives will only prove successful and yield the expected results if customers’ previous interactions, purchases and experiences with the brand have been very positive. Increasing the LTV through positive customer experience should be a priority for any e-commerce business to become more profitable.
LEAP, location-enabled advertising, a mobile app for brands and retailers, brings gaming and entertainment to encourage consumers with deals and rewards. LEAP also acts as a digital advertising platform which empowers brand owners to increase sales by increasing consumer outreach and engagement. A brand can follow their consumers throughout the journey from the first click to final check-out. With this, they can “virtually follow” the consumer and motivate them at each step of their buying journey.
In addition, LEAP:
- connects all possible ways by which the customer interacts with the point of sales system or marketing efforts
- collaborates and integrates location-based services with analytics, marketing & positioning modules.
- focuses on improving customer engagements through advertising and marketing modules
Conclusion
Brands should focus on building attractive loyalty programs and create stronger customer relationships. Customers tend to stick with a particular brand if they are able to communicate with them directly. Geolocation or location-based marketing paves the way for both participants in the retail ecosystem – the brand as well as the consumers.