Location based mobile marketing has often promised the earth for businesses and brands – but does it really deliver? The data would suggest it does. In terms of optimising conversion rates, precise targeting and collecting rich consumer data; location based mobile marketing promises to be highly lucrative for those who dip their toes in and try.
Unsurprisingly there is something akin to a land grab happening as businesses, brands and agencies seek to hone and craft their mobile marketing strategies. But developing a location based mobile marketing strategy requires precise thought and research. For a start, your mobile marketing strategy should encompass ‘geo-fenced’ and ‘geo-aware’ ad campaigns. This means you can effectively target specific locations in a particular buying context with surgical accuracy, not to mention the process of profiling your customer base to target specific groups, be it guitar enthusiasts, or someone looking for driving lessons.
In this brief blog, we want to explore the key facts and figures on location based services and understand why it’s so important in the context of developing a coherent mobile marketing strategy. Let’s kick off with our top 5 reasons why your business needs a location based mobile marketing strategy:
1.) Vast amounts of money are directed towards mobile marketing
At the start of this year, mobile ad spending in the U.S. was predicted to grow 20%, to over $70 billion – and will be an astounding 75% of all digital ad spend, according to eMarketer. That’s an extraordinary 21,775% growth from only a short decade ago, when U.S. mobile ad spending totaled just $320 million dollars.
2.) Location based mobile marketing is about tablets and smartphones
In the beginning, the conversation about mobile marketing revolved around smartphones. But with the predicted growth in tablet based content consumption and buying behaviour evident, the essence of the discussion has been forced to broaden. The fact is, it’s now statistically much more likely that eCommerce customers will interact with your website from a smartphone or tablet now, with the desktop consigned to its place in history …
3.) Location is the future of data collection and targeting
Location has replaced the use of the traditional cookie. Data collection via mobile has always been a challenge, as it’s harder to support third party cookies, but now that we have location-based mobile technology at our fingertips, it gives businesses and marketers more ways to identify and target their mobile audiences.
4.) Location-based data is already driving success for marketers
Location-based mobile marketing strategies produce measurable results. Studies continue to suggest that location-based marketing efforts are highly effective. A report by Location Sciences earlier this year explored the challenges and opportunities for UK retailers presented by location data, finding that accurate location-based audiences is thought to be the most valuable insight gained by location data. To date, geo-aware ads, geo-fenced ads and location based data combined with consumer demographics information has provided a huge success for businesses and marketers. As an enterprise, it’s surely tempting to follow where this could lead …
5.) Timing is everything
If you’re a business, brand or marketer, developing a coherent and profitable location-based mobile marketing strategy can seem like a daunting process. here at Waracle, we develop and market mobile apps for some of Scotland and the UK’s best businesses and brands. There’s never been a better time to explore a location based mobile marketing strategy for your business. If you’re a business owner, brand or marketer looking for guidance on mobile marketing, contact Waracle today to begin the conversation!