Glossary
Location Intelligence
Location intelligence is data, insight, and visualisation all centred around location. Address verification empowers location intelligence through data. It helps businesses turn location data such as addresses or latitude/longitude coordinates, into customer insight and business value.
What is location intelligence used for?
For businesses, location intelligence provides the ability to better understand customers, and, therefore, create an improved customer experience. All customers have their somewhere, and this is more than simply a pin on the map. Now, many are using location data to build on their relationships with consumers, encouraging brand loyalty and trust. Data quality is a particular hindrance to the use of address data for gaining insight. Ensuring that your data is clean and accurate is essential, as it means that parcels and communications are effectively delivered without the issue of an address not being found.
33% of consumers who ended their relationship with a company last year did so because the experience wasn’t personalized enough.
What is Location-based marketing?
Location-based marketing is a strategic approach that involves tailoring marketing efforts based on a customer's physical location. Using mobile GPS, input addresses, and geocoding, brands can provide personalised in-app recommendations and location-based emails to engage with their customers effectively. However, for these tactics to be successful, companies must ensure they have accurate and clean customer databases. By leveraging location-based insights, businesses can enrich customer profiles, drive brand loyalty, and expand their reach to new audiences. This targeted approach not only increases revenue but also strengthens relationships with customers, ultimately setting companies apart from their competitors.
Location intelligence enables location-based marketing, and the accuracy of your data in this regard will in turn dictate how well your marketing efforts then land. For that reason, it's critical to ensure your business processes pick up the best possible location intelligence. Loqate's Verify solution is the perfect way to ensure your address data is accurate, geocoded and verified to real locations, meaning your communications and marketing won't fall flat. Get a demo today from our experts and get started with our market-leading software.
