Personalizing Ads Based on Location and Purchase Behavior Data
In a rapidly-changing consumer environment, shoppers increasingly expect to be able to find products and information easily. They also expect the shopping experience to be seamless across their mobile, digital and brick-and-mortar retail experiences—as reflected by the fact that 76 percent of consumers’ research is performed online, but 93 percent of purchases are still made at the local store.
A major element in guiding customers smoothly through this journey and driving sales growth accordingly is better ad personalization. While marketers and retailers have long been aware of the value of past purchase behavior in predicting the path to purchase and delivering effective advertising, combining purchase behavior with location data has been shown to increase return on advertising spend by as much as 4X.
IRI’s Point of View, “Personalizing Ads Based on Location and Purchase Behavior,” offers insights into how aligning location data solutions with offline sales information can help can help marketers more accurately map today’s complex consumer journey to create just the right “nudge” to action or purchase.