As brands across the world come up with innovative campaigns to engage with audiences during the COVID-19 pandemic, they need actionable customer insights to back them in this pursuit. We at Near understand this is an extremely critical time for brands and if they succeed in creating positive customer experiences during these tough times, they will certainly have an edge in their respective markets in the long run.
Near’s Home Location-based Audience is an offering that can help brands achieve data-driven customer delight. The platform’s core offering has always used location intelligence to help brands and marketing agencies reach out to their audiences based on their visitation to physical places such as brand stores, auto showrooms, coffee shops, sports arenas, fitness centers, etc. In the wake of the recent developments across the world, however, most of these places are shut temporarily and people are staying at home. Although it was always available on the platform, the use of this feature has become important more than ever before.
What is a Home Location-based Audience?
In order to reach out to these audiences, it is not just important to know their visit patterns before the home isolation measures were implemented but also their home locations. A home location-based audience is a person whose home location is known and who can be reached out for a specific use case by a brand. Near’s ‘Home Location-based Audience’ uses the proprietary ‘Staypoint Algorithm’ to derive accurate home locations- the precise place where each of these audiences resides.
How do we derive home locations?
Near makes use of advanced Data Science models to ensure these locations are up-to-date and precise. The amount of time for which a person is seen at a point of interest on an average is called the ‘Dwell Time’. The Staypoint Algorithm can give insights on dwell time- precisely how frequently and for how long is a user seen at a location. The Near platform employs several other factors such as frequency of pings and number of days, nights, and weekends spent at a PoI to get precise results. The datasets derived from this exercise are further cleaned up to ensure all the irrelevant places are removed. For example, an essential services worker may be seen at a location for long hours but since it is a popular place and not a home location, it has to be eliminated to maintain data accuracy.
How can brands use home location intelligence to engage better and sell more?
More time spent by consumers at home translates into several use cases for brands. Since they are not stepping out, consumers are using several products and services more than they used to before social distancing measures were implemented. Consumers now:
- Order groceries, daily essentials, medicines, baby products, and personal care products via apps more often
- Use more of video conferencing and remote connectivity tools for seamless office work
- Spend more time watching online content and OTT television shows
- Read and watch more online news
- Resort to online alternatives for fitness and mental wellness
- Register for online training and learning programs to brush up concepts in the extra time and brace for the post lockdown situation
- Stay socially active online to communicate and engage more
- Play more online games
Brands can monetize these opportunities if they act quickly with the right paraphernalia- actionable intelligence backed by precise customer behavior data. These insights can be used to target, segment, and advertise with relevant messages and content to prospects, thereby increasing their chances of choosing a brand while making a buying decision. Most importantly, this is an opportunity for brands to showcase their human side. The most effective brand communication during times like these will not just focus on new customer acquisition but will also be driven by sincere empathy leading to a positive brand image.
We at Near are together in this to help brands and marketers derive business value while helping their consumers navigate these difficult times.