On October 23rd, 2014, we updated our
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GEO-SOCIAL DEFINEDGeo-social marketing:Is an attempt by marketers to target their customersthrough the use of social-location based services(Foursquare, Gowalla, and even Facebook) in atimely, convenient manner.
THOUGHTS ON THE POTENTIAL OFGEO-SOCIAL…―Advertisers are getting excited about not just slapping aCPM on these ads but going to more action-oriented, cost-per acquisition metrics, or coupon redemption at the pointof purchase—the proximity to the point of purchase of location-based campaigns makes them more trackable.‖-Michael Boland, senior analyst at research firm BIA/Kelsey Group, San FranciscoBut why are marketers getting excited about this?
HERE IS WHY:There is a hugedifferencebetween theamount ofmobile devicesand the amountof people usingsocial media onmobile devices. Infographic shows that there is promise for social on mobile, however there is risk.
WHO ARE MARKETERS AIMING TO? Geo-social is still small compared to location-based service use on mobile Why? A couple thoughts: From a consumer’spoint of view: 1. People are on the move (act as a compass) 2. High preference for seeking information on-demand 3. Making comparisons between different businesses 4. Or the simple truth: people just do not want to talk
STILL THERE ARE CHALLENGES, AND THESE MIGHT NOT BE SO EXCITING Interruption Marketing-checking in toplaces ―interrupts‖the experience Data mining issues-consumers are notcomfortable tellingmarketers wherethey are going
Marketers Misuse Geo-Social-Marketers misinterpreting it as an opportunity for branding
A MARKETER SHOULD DO THIS INSTEAD:―Location services enable marketers to deliver a compellingoffer when consumers are near the point of decision, yetthey also help marketers understand the context of their targetaudience – their intent and state of mind.‖Noah Elkin, eMarketer principal analyst, author of ―Beyond the Check-In: Best Practices forLocation-Based Marketing.‖
FOR INSTANCE Have digital coupons or incentives send via mobile means. Not viewed as mobile spam Creates relationship Entices repeat purchases
Mobile versus Desktop:Has social media encouraged more use of mobile?
REASONS FOR WHY MOBILE WILL OVERTAKE DESKTOP1. Easy to use/ SecurePayment Systems2. Small Price Tags3. Difficult to getpirated content4. Strong CommerceCapabilities (e.g.iTunes)5. Personalization
SOCIAL MEDIA IS ALSO PUSHING MOBILEHow is it doing this?Social media’s power to be a multi-tasking tool withdifferent sources of media all at onceMary Meeker, Internet Analyst at Morgan Stanley:Social media is a “unified communications +multimedia creation tool/repository in your pocket.”
Social News:Experiencing the moment in REAL TIME
TO PUT IT INTO PERSPECTIVE
SPEEDING UP ACCESS TO INFORMATION Citizen Journalism-mobile content is quick and timely-participation is the key-always connected
ARE WE ENGAGING?Here is the proof from Pew Research: 54% of mobile phone owners distributed photos or videos to others The Huffington Post is the second highest site for mobile traffic (people need to contribute).
THE PUBLIC APP-LIES THEIR VIEWS
TO END OFF…Geo-Social Allows marketers to deliver a specific offer to consumers (right place, right time)Mobile and Desktop Multitasking with different media (online social media activity during an event)Social News People want to feel recognized as an authority, and mobile allows them to do this (by having knowledge in real-time)
ULTIMATELY…Social media brands are adapting to the times (themedia landscape and competitively) VS.