Location-Based Targeting Can Boost Mobile ROI

So far, the mobile space has proven troublesome for a number of reasons—shoddy tracking software, the wide variety of devices, and a lack of knowledge about what works in the space have all hindered advertisers and publishers from cashing in. According to a new infographic from Evzdrop, the failure to monetize the mobile space definitely isn’t out of a lack of data; rather, it’s the sheer quantity of data that is seemingly overwhelming digital marketers and frustrating the process of developing successful mobile marketing strategies.

The message is loud and clear—”businesses are experiencing a data overload,” or as Evzdrop calls it, “drowning in data.” The rate at which content is created and shared via social media happens way too fast for businesses to keep up and develop relevant and successful marketing strategies around. However, what some businesses are failing to realize is that customers are literally knocking at their front door or even standing in their stores, and location-based targeting technologies can help them capitalize on customers that are in their figurative “back yard.”

Based on the statistics provided in Evzdrop’s chart, much of the social correspondence between companies and their customers goes unnoticed, or at least underutilized. According to the infographic, 95% of Facebook posts and 97% of tweets are not answered or seen by brands, and only 24% of small businesses claim that they are engaging with prospective customers in a strategic way via social media. Obviously, these numbers are shocking, both for brands and customers, however, there appears to be a solution to this well-documented problem.

By filtering by location, Evzdrop says that businesses “can better ride the tsunami of social mentions” and “monitor mentions that matter most—those from customers and prospects at or near their locations right now.” Not only does Evzdrop’s evidence suggest that geo-specific advertisements help increase conversions, transaction sizes, and brand loyalty, but it also points to consumers’ desire for apps that send location-specific ads and offers.

According to the infographic 55% of smartphone users are more likely to visit a retail store after receiving location-specific alerts, and 75% of those mobile users are more likely to take action after seeing a location-specific message. Couple those stats with the fact that 74% of US consumers are already using location-based apps, and 78% of smartphone users are using their devices while actually in brick-and-mortar stores and it’s obvious that geo-specific technology is a budding new way to target individual customers.

As new location-based apps and technologies continue to emerge, statistics prove that in order to increase ROI and conversion rates, brands must implement these technologies into their ad strategies. In short—use location-based, targeted mobile ads, or miss out on A LOT of revenue.

 

This post was originally published by The Mail