Retailers in the UK feel let down by the accurancy of location data when using geo-targeted marketing, according to a survey of 157 UK retail executives conducted by Location Sciences in partnership with RetailTechNews.
- 62% of retailers believe that a high level of accuracy is an important factor in location data, 57% want accuracy to indicate a consumer’s location between one and five meters – which is very rarely the case.
- However, 54% of retailers are currently obtaining their data through programmatic bidstream, which is viewed as an unreliable third-party data source without any measure of accuracy or precision.
- In addition, 53% of respondents said an indication of dwell time at the location would indicate good quality data, though this unverifiable using the bidstream.
With the IAB reporting 2017 mobile display ad spend of £2.54bn and estimates that 80-90% of location signals are inaccurate, it is time the media industry treated location accuracy with the same significance as viewability, fraud and brand safety before it. The case for industry location benchmarks and independent verification is clear.
Mark Slade, CEO of Location Sciences.