Location Data, Analytics, Traffic, Technology, & AI Strategy

Prologue

I write this article around the time we are set to release MeridianAPI.com, and the associated tools applications and software products. This suite has been painstakingly built over the last few years; with learning that happened over a decade working with various brands, agencies, media owners, and audit and advisory firms.

This article / document would also form the overview of what this whole affair is about.

Now that you are here, let's dance.

Do Something Strategic 

At some point of time, every company reaches the point where "do something strategic!" is an itch that's worth scratching, and in the advertising business, there are few legitimate ways to scratch it.

And if you are doing it, you are forced to excel.

As the dynamics are totally different.

One way to do so would be by using Data in a way that has not been done before.

In the context of this article, location data.

Location Data by itself is not necessarily the best way to target ads: if you're walking past a store, you're probably not interested in going in (or you would have gone in), and if you've already gone in, you didn't need an ad to persuade you.

But,

'Location data can be fantastic for creating a plan where people meet, spend time and connect with each other at both physical and emotional levels and probably make buying decision'.

But the amount of data out there is colossal, and you will need a way to sieve your way through it, but we will come to that later. Once you have access to the data, you will need a way to analyze it.

'Data without analytics is like kiss without moustache; vegetable without salt.'

Data Analytics is like the perfect garnishing to your innovative brand campaign. Especially, when you can gain access to the segmented hyper-local insights.

What we need is data, tech and accuracy. Accuracy in advertising comes through a ritual of testing and audits.

The way machine learning works is that you convert your logic problems into statistical problems, and we provide the machine with meaningful, clean, and precise data and work out a solution.

Statistical solutions come with errors and noise, and that is further reduced by increasing the quality, quantity, and frequency of data being employed.

Hence we achieve,

'The perfect combination of technology and accuracy is what is needed to run a successful campaign with hyper-local insights.'

Why does it matter?

People don’t see what you want them to see

They see what they wish to

This is why hyper locality/veracity/certainty is important, you do not know what people are thinking, but you are there, and your brand presence is there and that is the key to reaching the right audience.

This is how it works

We have plotted/sieved/added comprehensive data on user persona, points of interest and traffic on an intuitive UI that makes it a breeze to create a plan.

Let's take a city here.

Jaipur - Build a new plan here with Female Educated Professionals (user persona) as the target audience and Banks & Brokerage Firms as the POIs.

What we do achieve here is more operational and less managerial

but also

Specific

Measurable

Achievable

Relevant

and Clearly Defined.

What you achieve is Precision & Persuasion

People hate ads, and the good consumers pay to not see ads.

Digital Advertising suffers from Misinformation and Abuse of data, and there is an existential Need for Change in how Agencies talk to the brands and advertisers.

You have to be meticulous if you are going to employ Data Science and Intelligence to handle critical tasks, and you cannot have a data-driven, tech fueled approach to problem solving or planning, without addressing accuracy.

We have amassed huge data, but most importantly our data is consumer driven, i.e. we look at user behavior, preferences, demographics, education, literacy, tax collection, and other parameters to define the size and quality of the market.

And the results demonstrate a clairvoyant understanding of consumer behavior, patterns and insights in any particular geographical area.

Market Size and Thermodynamics

Market Size follows the Second Law of Thermodynamics, sort of, Market size at any moment remains constant, for e.g. if you are selling cars in Los Angeles or tyres in Ludhiana, you have an 'n' number of buyers at any moment.

Hence the total entropy or market remains constant.

But it can be exchanged i.e. the market may consume one product or the other. Hence a person who buys a Mercedes in Torrance, shall not buy KIA at the same time, unless he is in the market for two cars, then he perhaps will not buy a VW,

and if you are a consumer from Ludhiana and in the market to change your car tyres, you will only invest in one set of tyres when the need arises.

I am belabouring the point and profusely apologise but probably have explained myself by erring on the side of verbosity.

Automation

Computers have gotten surprisingly good at things human brains specialize in, like producing text and code, translating languages, turning an idea into a picture, or noticing suspicious online behaviour. In terms of Out-of-home, we can add planning to it. Getting to know the audience, user personas mapped to locations, identifying traffic spots and general availability of media.

Automation is bad at putting up the sign, digging the pole and installing the wires that bring in the light, other stuff with vinyl and wires.

Computers are good at brains and not so good at doing manual boring work. And usually in any labour market, it is difficult to find people who are willing to do boring, labour intensive tasks.

Meridian helps you design faster and smarter and you may use the final outcome in whichever way you like.

Now, to build a first-rate advertising business, you will have to empower your clients in ways that other agencies do not. Otherwise, where is the edge? A brand can set up its own advertising business by using the same APIs that an agency has access to.

These are dangerous days for advertisers, indeed.

Charm your customer with Ai, Automation and Machine Learning and hopefully, he will throw sunshine at your ass.
 

Centralize Operations

Make advertising less managerial and highly operational for better performance.

Automation ushers in efficiency, it empowers your team to address more customers with better outcomes. 

You will also have more control with reduced costs, focused vision, better planning, and quick implementation.

It also reduces toil at each stage.

This could be important. A lot of mental math can be tiring and this frees up the mind for higher thinking.

Apps that work on the ground,

Moshpit is our location intelligent application that helps you gather data with accuracy. It is your last mile tool that helps you manage your fleet and assets on the ground.

And to communicate with your client, use

The Brand Manager, designed for senior executives, it helps you run a better campaign with precise location data.

How do we lose relevance, or customers or business for that matter?

'Slowly at first, then all at once'

- Ernst Hemingway

There is an Existential Need for Change in how brands connect with consumers and the Meridian.API suite of software and applications will help you overcome the challenges of the modern tech-driven world.

 Epilogue

All said and done, technology is a risky proposition but one that pays extremely high rewards. In the short term, taking risks can be expensive.

In the long run, though, it's avoiding them that's the problem, as you will most definitely lose market share, and whatever comes next.

We have tried to strike a balance by building the rails upon which you can build your business solutions.