Optimize advertising strategies

CRE | Use location data, demographic and psychographic insights, and zip codes to optimize advertising strategies

Optimize advertising strategies

CRE | Use location data, demographic and psychographic insights, and zip codes to optimize advertising strategies
In This Article

Location data, coupled with demographic and psychographic insights about shoppers, can be a powerful tool for planning marketing and advertising strategies and can influence campaign targeting, copy, and imagery. Identify target zip codes using visitor origins and discover visitor preferences using psychographic segmentation to optimize ad campaigns.

You’ll be able to answer these questions after reading this article:

  1. How can you see the home or work zip codes of your visitors?
  2. How can you use psychographic segmentation to inform ad copy?
  3. How can you view data based on social media posts and browser searches?

Get started with the following steps:

Step 1: Use Visitors by Origin to identify target zip codes

a. Open the Placer report for the POIPoint (Location) of Interest. (Tip: this can be your POI, or you can target your competitors’ top zip codes!). Navigate to Trade Area in the left sidebar, then scroll down to Visitors by OriginPresents the zip codes (home or work location) from which most of the POI’s visitors come.. This presents the home or work zip codes of most of your chosen POI’s visitors.

Learn about Visitors by Origin

b. You can assess visitation per zip code using the following metrics:

i) # Visitors - Presents the number of visitors that visit the property from each zip code displayed on the map

ii) % Visitors - Presents the percentage of visitors that visit the property from each zip code displayed on the map

iii) Year Over Year (YOY) Change - Presents the change in visitation per zip code, compared to 1 year ago

c. This data can now be downloaded and used to choose which zip codes to target via digital or print campaigns. Some may focus on marketing to zip codes that consist of their top visitors, while others may prefer targeting zip codes that represent potential visitors they lost to other locations.

Step 2: Use demographic and psychographic segmentation in Audience Profile to discover visitor preferences to inform ad copy, imagery, and event themes

a. From the Property report page, navigate to Demographics in the left sidebar and refer to Audience Profile. This tool defaults to the True Trade AreaRepresentation of the dispersion of home and work locations that drive traffic to any venue. but you may also choose Drive Times, Walk Times, or Distance in Miles.

b. Select the Experian: Mosaic psychographics dataset from the drop-down menu to show the segmentation for this specific trade area (if the dataset is not visible, click View more Datasets to add it). In this example, Singles and Starters is one of the largest groups in the trade area (index scores can be read as percentages. For example, a score of 110 can be inferred to mean that the figure is 10% above the base average of 100; a score of 90 represents a figure 10% below the base average). A bit of digging in the Mosaic Handbook shows that this group is likely to respond best to advertising via radio or SMS texts. They are largely young, aspirational, and have active leisure lives, often visiting bars, nightclubs, and movies. Using images or ad copy that appeal to this group would be wise for events or other happenings.

Pro Tip: Customers with the Spatial.ai dataset add-ons can view even more detailed trade area preferences, including data based on social media posts and browser searches.

Step 3: For those who have added on the Spatial.ai: Proximity dataset, see how the Madison Yards trade area over-indexes heavily for Hip Hop Culture and Artistic Appreciation

a. Navigate to Demographics in the left sidebar and refer to the Audience Profile section.

b. Select the trade area type you’d like to use for the report (True Trade Area, Drive Time, Walk Time, or Distance in Miles).

c. Select Spatial.ai: Proximity from the drop-down menu as the dataset of choice. If the dataset is not visible, click View more Datasets to add it.

d. See under Culture how the Madison Yards trade area over-indexes heavily for Hip Hop Culture and Artistic Appreciation, meaning that events or campaigns involving these should perform well.

Case Study

Food truck park uses Placer's data to target ads, increase visitation, and raise rents

The Challenge

A busy, permanent food truck park wanted to expand its reach to customers in new areas and raise rents. How could it drive increased traffic in a cost effective manner and use objective data to prove increased traffic and, as a result, boost rents?

The Outcome

Using Placer, the food truck park analyzed visitor origin and targeted ads by zip codes, lowering CPC by an average of 90%. Placer showed a 82.74% growth in foot traffic over the last two years, allowing the park to raise rents by 5%.

“It's very difficult to adjust rent without data. We had other solutions, but it was high maintenance and difficult to keep up with. Placer’s trade area map and demographics were a game changer for us because they gave us the data we needed to raise rents 5%. We use it almost every day. Without Placer, you’re really in the dark.”

CEO of Food Truck Destination
Case Study

Food truck park uses Placer's data to target ads, increase visitation, and raise rents

The Challenge

A busy, permanent food truck park wanted to expand its reach to customers in new areas and raise rents. How could it drive increased traffic in a cost effective manner and use objective data to prove increased traffic and, as a result, boost rents?

The Outcome

Using Placer, the food truck park analyzed visitor origin and targeted ads by zip codes, lowering CPC by an average of 90%. Placer showed a 82.74% growth in foot traffic over the last two years, allowing the park to raise rents by 5%.

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