Location based marketing is booming. Forbes contributor Bryan Stolle argues brands need to find a balance and stop shoving their push notifications in people's faces.
A new report from Juniper Research forecasts that the Mobile Context and Location Services market will reach $43.3B in revenue by 2019, rising from an estimated $12.2B in 2014.
This explosive growth anticipated over the next five years is a clear indication that brands and their agencies recognize more than ever the power of location in driving higher conversion rates, more relevant messaging, and the benefit of connecting with consumers at the right time, right place.
But how can brands unlock the full potential from this precision-based approach to digital marketing? One of the keys lies in the balance between brand goals and consumer privacy interests. Do people really want push notifications when they are walking down the aisle of a store? When does it become intrusive to retarget someone based on where they’ve previously visited? Equally important, how can marketers be assured that their messages are being seen by the right people at the right time and right place? The promise for location-based marketing is massive, but the art of execution by brands and agencies will be critical to getting it right.