Growth in the number of handheld devices has led to an increasing interest by marketers to tap into this opportunity.
Mobile due to its personal nature and mobility has created a deep interest and set great expectations from the marketers.Mobile marketing derives a lot of its basics from online marketing. For a long time, digital marketing comprised of both online and mobile marketing. The term is conveniently used by many even now. But, with the evolution of mobile and renewed expectations from the mobile medium, mobile specific strategies for marketing have evolved.
Yet, there is still a lag in interest and spending in mobile marketing because many marketers still focus much of their budgets on successful and measurable parameters and therefore look for performance campaigns like CPL, CPD or CPA.
For mobile marketing to be effective, it needs to be relevant and bring value to the consumers. Whether it is promotions, informative or discounts, ads must not deviate from the user experience and rather become a part of it. Several technologies are being experimented with to keep pace with these expectations. The relevancy of marketing communication to the consumers is being regarded highly and marketers are looking at experiential marketing as the golden key.
Several studies on mobile marketing have indicated that geography and context are the most suited and used targeting tactics for higher ROI’s.
As previously addressed, value of an ad to a consumer directly attributes to relevancy and that is a function of location at that moment, the activity that is being performed and the intention of future action. The higher the ad content scores on these dimensions the more relevant the content becomes to the individual and the less it becomes to the masses. Location targeted content is consumed by people or entities that are located within a well defined area, generally the area of a neighbourhood or city.
Wiki defines location based targeting as information oriented around a well defined community with its primary focus directed toward the concerns of its residents.
However, this can result in very few impressions being served because there may not be that many addressable mobile devices entering such a narrowly defined area. It makes more sense to target slightly larger areas by broadening the scope of the campaigns. The most successful campaigns have broader locations targeted.
On the inventory side, the past year has seen a significant increase in the volume of location based inventory. This increase is being driven by publishers who are sharing this information with the consent of the consumers. Publishers are adding more location based mobile ad inventory to benefit from the higher rates attributed by the advertisers. It is a win-win situation to all the stakeholders in the ecosystem.Smart marketers are leading the way, as one of three dollars spent on mobile advertising now goes to location-targeted advertisements. That number is set to grow to nearly one-half by 2017, according to BIA/Kelsey.Weather apps like Accuweather have expressed a significant increase in traffic owing to the consumers sharing location information.
Latitude and longitude data is the most precise data for hyper local targeting. This data is gathered when consumers opt-in to provide their GPS coordinates and is the best source for targeting down to a several block radius.
AdIQuity has newly introduced Geo Sense. a feature to enhance advertiser targeting options through geo-locale specific targeting. It is a combination of radial targeting, geo-fencing, and the ability to select cities, states and a combination of these.
Defining the areas for Radial targeting to marketers is like dropping a pin on a map and covering a radius of a few kilometres. Multi outlet brands with a single/multiple outlet in cities will find this option really valuable.
On the other hand, agencies looking for integrated marketing communications will look at this feature as a boon. They are often devising strategies considering online and offline marketing mixes. Coupled with this is the intention to also cover areas with a competitor presence. Given an ability to cover certain area and not necessarily a circular area, geo-fencing using latitude and longitude coordinates will provide the ROI that the marketer is looking for.
For example, Tier-II cities have shown increasing mobile penetration due to smart phones availability at affordable prices to majority of the mobile users, these cities show enormous potential to marketers. Geo Sense gives the ability to target these cities with ease. The feature also helps to define regions or geo-fence areas, i.e, defining virtual perimeters for real-world geographic areas around Tier-I cities which also come under the targeting criteria for marketers. This kind of a combination of various sizes and shapes provides good flexibility in only considering relevant regions for advertising.
With the virtual perception on the size of cities/areas ever growing as a result of the burgeoning population, it is evident that a marketer is looking to consider regions larger than what is defined on a map for a community or a city. A marketer will thus define regions with its boundaries represented by a conventional map and then extend to areas of interest using geo-fencing.
AdIQuity looks forward to improving your ROI’s with the help of better technology.