94% of marketers in the future will use location data in marketing and ad campaigns.

WASHINGTON DC, WASHINGTON, UNITED STATES, March 23, 2022 /EINPresswire.com/ -- GoodFirms, the globally recognized IT research, ratings, and review platform, published its latest study - "The Role of Location-Based Services for Digital Advertising." LBS or location-based service helps businesses to approach customers with end-to-end personalization proactively. This research study from GoodFirms aims to acclimate the vital aspects of LBS for digital advertising, the various types, the challenges, and the best practices in digital advertising, along with some of the key players specializing in this service. Special focus of the study also throws light on how LBS fits into the metaverse - the new upcoming trend.

GoodFirms’ research indicates the increasing usage of substantial technology such as GPS, Bluetooth, Wifi, RFIDs, etc., as the driving factors for the growth of location-based advertising (LBA). With the efficient use of LBS, brands can target consumers personally based on their geographical location and make the buyer's journey effortless from discovery to purchase..

Further, the research analyzes a few elements that influence the effectiveness of LBS. The research article deeply discusses different types of Location-Based Advertising Techniques that can be used to reach the target audience.

“Marketers can send more focused and customized messages to increase awareness and nurture relationships,” says GoodFirms.

Moreover, the research remonstrates the factors that support choosing location-based advertising to create awareness and nurture relationships with consumers and prospects.

The study also points out how brands like Starbucks, Gasbuddy, Uber, Ticketmaster, Van Leeuwen, and Lululemon are attracting new customers and boosting sales using LBA.

GoodFirms’ research on location-based services also calls attention to the top tech trends impacting LBS for digital advertising, assisting the marketers to understand the technique better. . Pointing out the challenges of LBS, GoodFirms mentions that the service is effective only when done correctly. Before concluding , the research speaks about how LBS can fit into the metaverse to bring in benefits.

"Whether it's playing an online game in a high-rise, optimizing logistics for deliveries in a densely populated downtown area, or locating the car in a multi-story parking garage, brands offering location-based virtual advertising in the metaverse, 3D geolocation adds the most value to the user experience." - GoodFirms.

Key Takeaways from the Research:

--LBS is an authorization-based service; the end-user needs to install and enable the application, as the device will not convey its location without the user's permission.
--The adoption of mobile apps and GPS services has given rise in recent decades to understand and use clients' precise locations effortlessly.
-- Brand preferences increased perceived relevance and positive response towards advertised products, resulting in enhanced purchase intentions.
--Location-based advertising permits to create customized and personalized marketing messages to the target audience's location - for example, retail places, weather, friends' proximity, and transportation routes.
--Location-based marketing is just viable when it's done accurately. Proper segmentation is essential to get more conversions.
--Most marketers expect to contact a vast audience in a specific geographical location, but it does not ensure positive outcomes.
--Location-based marketing enhances customer engagement when integrated with advertising..
--Businesses from various sectors are utilizing localization strategies.
--Location-based marketing in smart spaces is likely to turn out as a big hit..
--Brands are taking benefits by utilizing location-based marketing apps and tools to get innovative with geo-targeting and several location-based tactics.
--Location-based services for digital advertising have set off to be more tech-savvy and highly advanced in recent years.
--Location-based mobile advertising costs are acceptable considering its benefits in comparison to various traditional advertising methods due to the factor that the location-based content is delivered to consumers in real-time.
--AI compliments LBS in creating ads that target people in real-time.

About the Research:

GoodFirms Research - "The Role of Location-Based Services for Digital Advertising" unfolds the purpose and practice of location-based services in this digitalized world. The study attempts to cover all aspects of LBS right from factors till challenges. Effort is made to highlight how the future of the LBS market will witness tremendous growth with Metaverse taking its leap forward. .

To view the full survey report, including additional insights and participant demographics, please visit:
The Role of Location-Based Services for Digital Advertising (goodfirms.co)


To read and download more research articles by GoodFirms, click here.

About GoodFirms:

GoodFirms is a Washington, D.C.-based research and review company that assists B2B businesses to decide the best alternative for investments in software solutions and IT services. GoodFirms' flagship research paves the way for thousands of companies to get ahead with the current trends, latest happenings, and technological developments in the business world.

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