What is your Maps Strategy?
The 3 macro trends driving increased consumer maps usage and how to create business value with location intelligence
Google Maps is an incredibly powerful business marketing tool. Last year I wrote about how photos on Maps increase Reach, Engagement and Convert visitors.
Since then, I’m even more convinced Maps will change consumer behavior and are key to the investment thesis for fast-growing verticals including delivery, travel, transport, and logistics.
What is driving this and why is it important businesses have a maps strategy?
3 Macro Trends Increasing Consumer Maps Use
We Can’t Find Anything: Lockdowns and restricted travel mean consumers lost their sense of direction. As we start to wander out, we are now glued to Maps on our phones.
We Hate Traffic: Accurate, real-time data overlaid on maps saves time, money and stress. Traffic, popular times and weather are now basics for consumers researching restaurants, travel and outdoor activities.
Mobile search is now local search: Local search previously required intent modifiers like “near me”. Now terms like “Car Dealerships” or “Coffee” are treated as local by default and the designers prioritize Maps above text results on smaller screens.
Beyond Google
Apple Maps, famously dismissed as the “Bing of Maps” by Om Malik in June 2019, has stepped up its game with a 2020 Maps redesign and accelerating expansion of 360° street-level imagery, called Apple Look Around.
Apple’s turnaround was a big factor prompting maps and satellite expert, Joe Morrison, to declare Google Maps’ Moat is Evaporating.
The dominance of mobile and importance of location data mean a map strategy is no longer a nice-to-have for businesses.
Retail stores with multiple locations can partner with Yext, Uberall, Partoo and WhiteSpark to manage opening times, reviews, contact information and performance data. These services also provide store locator pages, which feed into platforms like Google Maps, Apple Maps and Facebook.
There are great ways for local businesses to leverage Maps and it is important to Show, not Tell. Now why are maps important for investors?
High-quality maps essential to investment thesis
Maps are literally driving semi-autonomous cars. They also power on-demand services like grocery and food delivery and even fintech where it is used for location-based rewards points and to increase security for money transfers and contactless pay.
MapBox and OpenStreetMap (backed by Facebook, Apple, Amazon, and Microsoft) are challenging Google to provide this critical infrastructure.
What are the top use cases to unlock value with location intelligence?
Identified by Boston Consulting Group and Google white paper
Customer facing:
Geomarketing and targeted communications
Digital customer experience enhancement
On-premises customer experience enhancement
Zone-based pricing
Operational:
Route planning and optimization
Network and supply chain optimization
Workforce coverage optimization
Support function optimization
Grab a cup of coffee and dig into some long-reads
If you are an Apple fan-boy, Google “Local Guide”, or map geek like me, here is some excellent reading to enjoy over a nice cup of coffee.
OpenStreetMap is having a moment
Google’s focus on Places rather than Streets
Google vs Apple Maps competitive dynamic long-read
Data heavy analysis of Apple Maps global expansion
Guardian article on Apple Maps 2020 redesign and UK launch focusing on “better road coverage and pedestrian data, more detailed land cover, Look Around, and new cycling directions” with more information from Apple PR
MapBox and OpenStreetMap are challenging Google to provide this critical infrastructure for autonomous driving, delivery and even contactless pay
*Hat tip Joe Morrison and Justin O’Beirne for their great research on the topic, which prompted my article.
Thanks to Turkkub for the Maps icon