In today’s digital age, it is essential for a firm to understand its customers’ unique location and context if it is to survive, let alone compete. Digital intelligence gives firms the ability to be customer-centric, understanding exactly what is expected of them, and enabling them to provide a personalised experience.
But, how do firms really feel about the use of location intelligence data at the moment, and is this likely to change in the next few years? We surveyed 253 decision makers, responsible for digital CX from across the UK, the US, Germany, the Nordics, Austria and Benelux, and here’s a taste of what we discovered.
The first interesting point to note is that firms are really starting to recognise the benefits of location intelligence. Currently, half of the firms we spoke to believe that location intelligence is important, critical or extremely critical, but 77% believe it will be important, critical or extremely critical within the next three years.
And these benefits can be appreciated across a range of sectors. In our study, we found that almost all survey respondents from the healthcare, hospitality, financial services/ fintech, retail/ eCommerce, and transportation/ logistics services say location data will be important, critical or extremely critical within the next 3 years. Interestingly, the perceived value of location intelligence differed among the various sectors.
For 47% respondents in the finance/ fintech industry, location intelligence allows them to better engage with customers, in a way they never have before. Forty five percent of those working in transport or logistics believe that location intelligence boosts engagement with existing customers, and 44% of those working in retail or eCommerce say it adds value by increasing revenue. Of those working within the hospitality sector, 40% believe location intelligence improves brand reputation.
Though there seem to be different opinions about how it benefits firms, it is clear that there are many ways in which location intelligence brings value to a company, regardless of sector. And it is evident that a large percentage of those we surveyed feel that within just three years, location intelligence will be even more crucial to their business.
To discover more, read Location Intelligence Drives Competitive Edge in the Digital Age, and see how your business can benefit from location intelligence data.