October 16, 2015 – BizReport Location-based marketing isn’t dead by any stretch of the imagination, but according to one expert there are ways to be location marketing right, engaging customer. And there are ways that won’t bring any more customers in to your business.
Kristina: Tell me about UberMedia’s LVO offering. What does it offer brands that they can’t get from simple geo-targeting?
Michael Hayes, Chief Revenue & Marketing Officer, UberMedia: Location Visit Optimization (LVO) optimizes mobile ad campaigns on real-world visits to a desired location(s). For example, it optimizes ad performance in real-time based on actual visits to retail stores, quick service restaurants, auto dealer lots, shopping malls, movie theaters, etc.
Simple location targeting is optimized by hand or automatically by click through rate (CTR). Some of this work could even be done post campaign.
The problem with CTR is that most advertisers’ business is not driven by clicks. If you look at the top 25 advertisers in the U.S., most of them sell product in the physical world. With a few exceptions, clicks are a proxy or are of little relevance to them.
UberMedia’s Location Visit Optimization allows the marketer to optimize in real-time on what matters most: real-world retail traffic and/or events. This has never been done before and is an incredibly powerful tool for marketers.
Kristina: What are your top 3 tips for brands to better use location to engage customers?
Michael: Tip #1: Re-target consumers who have visited your location and conquest your competitors. This works well to drive repeat visits and steal foot traffic from competitors.
Tip #2: Use location aware creative. Leverage location cues as a means of serving dynamic hyper-relevant creative with custom imagery, video and your nearest retail location. In short, relevance works best in advertising.
Tip #3: Measure your Incremental foot traffic. It’s best to measure your visit rate, plus the incremental lift you get in foot traffic by activating these types of campaigns.