Location Intelligence, Spatial Data Analysis | Pitney Bowes
Location Intelligence in the age of millennials and the breakdown of brands
By Jon Spinney
Companies face an uphill battle in achieving a relevant brand perception among digital-savvy customers, i.e. Millennials. While no marketing campaign can completely drown out bad word-of-mouth, detractors now have more platforms than ever from which to speak their mind: Mobile devices can turn consumers into critics the second a product or service disappoints, and social media provides a robust medium for these critiques to reach a mass audience.
Because customers now have the upper hand in determining brand perception, the pressure is on for companies to drive the best experiences and value possible at every step of the customer journey. While it’s impossible to silence every angry Tweetstorm that threatens customer loyalty, there is a wealth of data that brands can keep in their arsenal to not only improve quality of service, but also better target the audiences they desire.
At the fore of this data deluge is Location Intelligence, which can be applied to customer data in nearly every industry vertical. In its most basic application, Location Intelligence can apply a geographic location or tag to any data set. But, features like geoenrichment, geocoding and data visualization can help establish relationships between these data sets and inform business-critical, actionable insights. Importantly, they can delight clients who are equally as willing to praise a brand when they get it right!
For insurers, Location Intelligence assures accuracy
Take, for instance, the insurance industry, where Location Intelligence plays a major role in almost every step of the customer journey. To determine rates, insurers need accurate insight into a wide range of geographic factors, from historical weather patterns that could impact real estate holdings in a particular region, to hyper-local traffic patterns that affect the driving habits and risk potential of customers insuring their vehicle.
When this information is most accurate, insurers and their customers have better bargaining tools for not only improving rates but incorporating additional services into their contracts. This can significantly increase the value of the relationship and help insurers play a greater advisory role in their clients’ day-to-day.
Insurers looking to delight clients can use location enabled applications to assist them when a loss occurs, helping them get road-side assistance, find a repair shop or a place to stay.
For wireless providers, more granular Location Intelligence can support customer wins
Wireless providers are another vertical that depend on the insights gleaned through Location Intelligence to accurately and honestly serve their customer base. As anyone who watches broadcast television can attest, these carriers are constantly advertising quality of coverage as their edge over the competition.
While large coverage maps may impress a brand’s market dominance upon potential customers, most wireless subscribers are only concerned with the signal strength they’ll need locally. Wireless providers can use hyper-local signal and location intelligence that comes from an array of geo-tagged beacons and sensors – from cell phone towers to smartphones themselves – to give customers a personalized map of what their coverage looks like. This can help justify rates, and also improve brand awareness within higher-value markets for lower-tier providers.