Location-Based Advertising Teleconference Details the Power of Location Relevance in Campaigns, Including 25% CTRs
Panelists discuss ways to leverage this new medium for reaching an audience
(SAN FRANCISCO, Calif.) – May 12, 2009 – Last Thursday, representatives from several location-aware and advertising companies joined Alistair Goodman, CEO of 1020 Placecast in a teleconference on the location-based advertising industry. Scott Dunlap, CEO of NearbyNow; Derek Leedy, VP Account Director at MediaSmith; and moderator, Greg Sterling, Founding Principal of Sterling Market Intelligence and Senior Analyst for Local Mobile Search, gave their answers to important unanswered questions surrounding the relatively new advertising medium, including:
• What does location-based adverting mean to you?
• How is location relevant to brand advertisers?
• What are some successful case studies?
• What sort of success metrics are being reported around location in online campaigns and/or mobile?
All of the panelists, who were joined by their united focus on creating the most relevant experience possible for consumers, agreed that the main purpose behind adding location to advertising campaigns is relevance.
“You can remind consumers of your brand at the right location and time, by understanding their frame of mind,” said Mr. Dunlap. “This allows your branding message to be very targeted and efficient.”
“What is great about the technology that is emerging is we have the ability to leverage this new way of reaching an audience,” said Mr. Goodman. “The challenge is in educating the buying and planning world in what this opportunity affords them and using it to its fullest to create relevance in a campaign for a targeted audience.”
The panel mentioned several case studies, including campaigns with Avis-Budget Rental Cars, Hallmark and Lucky Magazine. In particular, the Hallmark campaign saw 25% CTR across the Web and mobile, while an iPhone app designed specifically for Lucky Magazine found 5.5-6% conversion of all iPhone users ending up in a store for purchasing.
“Never underestimate the power of new data and how that can help change the relationship with your clients,” said Mr. Dunlap. “We continue to see 17x more shoppers looking locally than online when using a LBS-powered device. There is a lot of potential here. Embrace it and see what the data says.”
Mr. Leedy adds: “The remaining challenge for this industry is understanding its scale. Whenever we add a new medium to the mix, we want to make sure it’s not a gimmick or just an ‘emerging technology’ or an add-on, but rather an organic part of the campaign. We have to be able to comprehend its scale and articulate that situation to our clients.”
To hear the entire teleconference, please visit: http://www.placecast.net/.
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