Innovative Location-Based Advertising
When you think of location-based advertising, what comes to mind? Local businesses? Brick-and-mortar retailers? Mobile coupons? The space is evolving fast, with marketers using location data in a variety of innovative ways, and spending more on location data than ever before.
According to the Local Search Association’s 2018 report, location-targeted advertising spend is on track to reach $32 billion by 2021.
Historically, location-based advertising did focus on local businesses, with national chains taking more of a blanket advertising approach. The development of geo-fencing allowed these brands to target people online who passed within a certain proximity of one of their locations. The classic example is pushing a mobile coupon to the device of anyone passing by Starbucks, resulting in a direct, measurable action of a purchase.
This technology paired with the advancement of the smartphone, opened the gateway to collecting a plethora of information including the use of location data to determine where consumers live, shop, work, and play. As this technology has evolved, it is being used to inform decisions about where to build that next store or how to improve the customer experience.
Mobile Data for Mobile Advertising
For the advertising industry specifically, the next wave of innovation lets advertisers use aggregated mobile data to plan campaigns that reach their audience on the go. No longer just for brick-and-mortar establishments or direct-response campaigns, location targeting can now help any brand reach their customers through both stationary and mobile billboards.
StreetMetrics has built an audience segmentation and data visualization tool to help advertisers paint a clear picture of their target audience, including how they move throughout the day, and where they can best be reached.
StreetMetrics Smart Campaigns allow advertisers to maximize viewable impressions within their defined audience segment by empowering traditional media operators to drive a mobile billboard along a customized path where targeted users are known to be. They can also use the same data to inform decisions on where to place their advertisement along a fixed route.
Both during and after the campaign, operators have access to an online portal to track exposure analytics in real-time. Operators can easily schedule customizable reports, sending them directly to their advertiser, and providing much needed, and expected, end of campaign ROI.
With the advancements in location-based marketing, OOH is leveraging these technological advancements to compete against digital marketing and earn back their share of media spending.
StreetMetrics is the next generation of audience intelligence technology for out-of-home advertising. With analytics from StreetMetrics, transit media vendors can accurately understand who they are reaching with their advertising campaigns, helping them confidently compete for business with better planning, pricing, and end of campaign ROI. By pairing the movement of cars, buses, and bikes with aggregated cellphone, traffic, and mobile app data, we give you the power to understand and validate campaign performance— and how it can be maximized. Plan, track, prove, and grow with StreetMetrics.