Accurate versus precise location data: why marketers need both to create smarter consumer segments

Location data needs to be both accurate and precise for it to be effective. But most marketers cannot tell the difference between the two. In the second episode of Everything You Need to Know (EYNTK) about location-based advertising, Ian James, general manager international at Verve explains how to bring them together.

Consumers carry their mobile devices with them everywhere. This provides marketers ample opportunities to target them with personalised messaging across different phases of the day. But if a marketer wants to distinguish between a mum and a city worker, the location data needs to be both accurate and precise so brands can start targeting individuals rather than mass audiences.

In the video, James explains how to distinguish between accurate and precise data. He also reveals how precision brings granular intelligence to accurate data, enabling marketers to build up accurate assumptions about consumers based on the data over time.

“Accurate and precise location data is at the core of all audience builds. Great location data can be overlaid with other data sets. Points of interest, CRM, and demographic data. This enables brands to target great audiences at scale,” he says.

Catch up on last week’s episode here as James outlines the opportunity behind location-based advertising.

Next week’s episode will examine the importance of deriving quality location data for targeting purposes. Sign up to our newsletter to ensure you do not miss the next episode in the series.

Catch up on all the previous series here.