Speedometer – What is it?
Google Maps has introduced a speedometer, which appears while you navigate. When you reach a maximum speed limit, it sends out an alert. This update has been rolled out in 40 countries, including India, US, UK, Russia, and Japan. The feature is inspired by Waze, a navigation app acquired by Google in 2013.
Waze comes with the ability to crowdsource reports like police ahead, crashes, cars pulled over on the side of the road, gas prices, road closures, obstacles on the path like red light, cameras and more.
What can brands do with the speedometer?
While Google has not yet started monetizing this data, we predict very interesting ways in which this data can be used by marketers:
- Processing Claims: If you are a motor insurance brand, it becomes easy for you to track the speed at which the vehicle was going in case of an accident and that could be a deciding factor in the amount of claim to be processed. In fact, constantly maintaining good speed could also be rewarded by these companies, in order to promote safe driving. (Read our latest blog on how insurance marketing is changing)
- Mapping Consumers: With the information of the speed at which the user travels along with the traffic information conditions, you can identify users as risk takers or risk averse. This, if further seen in conjunction with information of route deviation, can help you identify the driver or rider’s attitude towards risk and authority.
Well, of course, time will tell us how this data pans out for marketers.