A 2019 survey with 700 respondents in the United States showed that 89 percent of mobile marketers believe that the leading benefit of location-based marketing is increased sales. Other benefits were growth in customer base, higher consumer engagement, and a more profound understanding of customer preferences.

While the survey is a few years old, the benefits cited can still be valid for businesses and marketers like you today. With more enterprises aiming to personalize their marketing campaigns and reach their target consumers better, geolocation data has been paramount to these goals.

You can acquire your consumers' geolocation data through a geolocation service. How does a geolocation service elevate your marketing campaigns, and which solutions can help you strengthen your targeted marketing?

How Geolocation Services Benefit Businesses

Geolocation services are software solutions that provide the location information of users. These solutions let businesses customize services based on the consumers' locations. They also offer features that strengthen customer engagement and service delivery.

The best geolocation services deliver accurate information to businesses and marketers. Here are the notable benefits of an accurate geolocation service:

Improves your targeted marketing strategies

A geolocation service enables you to target and reach consumers based on location. The service generates the location information from the users' phones or computers. This data lets you launch marketing campaigns in a specific area, strengthening your targeted marketing.

Suppose you're a coffee shop owner. Using a geolocation service lets you see where most of your customers come from. It allows you to send marketing campaigns—like an exclusive offer or coupon—based on their location. This geographical data can be within your locality or outside of it.

Whether you primarily operate online, physically, or both, a geolocation service can help you align your marketing strategies to your customers' geographical data. This approach lets you personalize your campaigns to attract new customers and increase conversions.

Filters location information

Geolocation services are equipped with location filters that provide accurate information. These filters enable you to create and send localized promotions. As such, these location-based promotions can enhance the customer experience.

Location filters can also optimize your marketing operations. For instance, you can make your delivery times flexible if you target multiple locations or run a large logistics operation.

Additionally, the filters can help you categorize locations to organize them accordingly. With precise consumer and prospect location, you undergo regional analysis that enables customer segmentation. This delivers more personalized messaging and locally specific offers.

Not only does this increase conversions, but it also excludes unqualified prospects, making your marketing campaigns more cost-efficient.

Delivers relevant data insights for a deeper understanding of the market

Geolocation services have location analytics that provides data insights into your market, competition, and customer behavior and preferences. This data-driven information provides a more profound understanding of your market, an essential component of decision-making and strategy development.

When you understand your customers' behaviors, interests, and preferences based on their locations, you can make informed decisions that drive higher sales and revenue.

Moreover, geolocation services can provide insights into your physical store and branches' sales performance. These insights help you understand the market suitability of different areas and determine expansion opportunities.

Enables comprehensive risk assessments

Risk assessments are integral to businesses, and geolocation services can provide comprehensive insights regarding your business's location-based risks.

For example, insurance providers use geographical data to evaluate a location's environmental threats, such as flooding and fault lines. These risks determine the pricing policies imposed by insurers on individuals.

If you plan to open a branch to expand your business, you can also use a geolocation service to assess a location's risk. This way, you can avoid costly situations caused by crimes and natural disasters. You can even see the local competition to predict your business's performance.

Provides fraud detection and prevention

Using a geolocation service is extremely important in the finance industry. You still need it even if you're not a financial business owner because your business involves payment transactions.

For instance, a geolocation service can detect if a credit card is used in an unusual location. The system then recognizes this might be a sign of unauthorized access, prompting potential fraud alerts. These alerts enable you to act immediately to protect your business and customer data.

Top Geolocation Services for Businesses

Geolocation services are not similar. One software can have a specific feature, while others may not. Defining your marketing needs is essential to know what service suits your business.

With many geolocation services available, choosing the best one can be challenging. Here are the leading solutions you might want to consider:

Google Maps Platform

The Google Maps Platform is a popular geolocation service that provides tools to help developers integrate maps, navigation, and location features into apps and websites. Its application programming interfaces (APIs) and software development kits (SDKs) offer essential functionalities, including map displays, location tracking, and route generation.

This service provides extensive mapping that delivers vast data, including satellite imagery and street view. While it offers most features for free, usage limits with costly charges apply. It may also generate inaccuracies and delays in data updates.

Radar

Radar is the leader in scalable, secure, and reliable location infrastructure, offering geofencing, geocoding, and maps, all in a single cost-effective platform. Companies like Zillow, Panera, DICK's Sporting Goods, Sleeper, and T-Mobile use the platform's maps APIs and geofencing SDKs to create localized experiences for hundreds of millions of devices worldwide.

This software boasts the following features:

• Hyper-accurate geofencing
• Trip tracking with live ETAs
• Place visit detection
• Fraud detection and geo-compliance
• Geocoding, search, and routing APIs
• Base maps
• Advanced location analytics
• Flexible tracking options

Many reviews noted that Radar is easy to work with and simple to integrate with just a few lines of code. It has also been touted for its accuracy, privacy, and developer experience. Radar offers a generous free plan and cost-effective paid plans when compared with leading competitors.

Mapbox

Mapbox is a live location service that provides precise location information and flexible developer tools that equip you with geospatial features. It also boasts a location intelligence technology that can enhance your operations.

Other key Mapbox features include:

• Data visualization
• Geospatial analysis
• Real-time traffic
• Global map display
• Geocoding and address search

Some users noted that Mapbox needs to update its satellite imagery and improve its pricing structure. Although it has free plans and flexible pricing options, the cost of upgrading can be an issue for some, particularly for companies with comprehensive mapping needs.

HERE

HERE is a geolocation service built with over 20 APIs and SDKs for any business size. Its Freemium offers search and geocoding tools, mapping, routing, and fleet management. It also has data layers that provide an accurate urban map for geologic, civic, and navigation to boost visibility, enhance transportation, and deliver better customer service.

Some users cited that HERE's interface is complex. The maps could be easier to use when incorporating a user-friendly dashboard.

Foursquare

Foursquare is a geolocation service that believes in the power of location. It offers a location platform and lets you create a business listing through Foursquare CityGuide.

Foursquare has over 550 integrated partners, including Amazon Web Services (AWS) and the Trade Desk. You can access the platform's data on your preferred formats and sources. This software also prioritizes data privacy by providing complete transparency and letting you control your data.

Maximize Your Local Reach With a Geolocation Service

Location-based marketing is now paramount to businesses. Whether your business is primarily physical or online, using a geolocation service helps you create localized campaigns that will entice a specific niche audience.

Remember that accuracy is crucial in geolocation services. So, choose a software solution with high accuracy to maximize your local reach and generate expansion opportunities.