This thesis presents a novel single-molecule spectroscopy method that, for the first time, allows the dipole orientations and fluorescence lifetimes of individual molecules to be measured simultaneously. These two parameters are needed to determine the position of individual molecules with nanometer accuracy near a metallic structure. Proof-of-principle experiments demonstrating the value of this new single-molecule localization concept are also presented. Lastly, the book highlights potential applications of the method in biophysics, molecular physics, soft matter and structural biology.