Geofencing, hyperlocal and persistent location: Talking trends in location based marketing

Conferences are good The ones that tell you something you don’t know are brilliant Day 1 of the Location-Based Marketing Summit in New York has just ended The following slides contain the best things we didn’t know about an area that’s still in its infancy All rights reserved Six For Gold LLC

It’s not just about check-ins Location-based marketing including geodata on devices, QR codes in-store, places where individuals can query information through interfaces like augmented reality to gather, detect data For small businesses, it’s hyper-local. “I don’t give a shit about anyone more than 10 miles from my car wash.” – Small business owner All rights reserved Six For Gold LLC

Terms you’ll hear more of Geofencing: Creating an artificial boundary that when crossed, creates an action. e.g. customer is hit with offer. Dwell time: Time spent between landing within geofence and desired action taken by consumer Persistent location: Building to address target consumers by their ‘nearby-ness’ Geo-relevant: Devices, apps or tools that provide user location data All rights reserved Six For Gold LLC

Are we there yet? Still a gulf between ‘nearby’ and dream of accuracy. Dwell time sometimes more revealing: Time spent between landing in geofence and desired action taken. Different strokes for different categories: Redemption rates for fashion are 25%; fastfood 65%. But messaging over time more relevant for North Face vs free-shake- with-burger offer used by QSRs All rights reserved Six For Gold LLC

Fearless predictions Object recognition: Camera captures image which can be recognised by Google; opens opportunities for in-store applications Tech will be pervasive enough that location will be a feature in every single application Location will become an app in every website Every company will need a strategy in persistent location and that will be a big part of CRM backend systems All rights reserved Six For Gold LLC

And even more Browsers are coming up with location capabilities and delivering the information to content publishers The daily deal can be the next ad unit Ad units will evolve. Buying for reach will morph into buying for redemption All rights reserved Six For Gold LLC

Opportunities? Phone now used as alarm clock, watch, calendar reminder Growth of user-generated content, e.g. Flickr, featuring products and services we potentially want to buy Study shows 80+% of consumers willing to share location information if offers are perceived valuable and they can opt in All rights reserved Six For Gold LLC

Before you get carried away, things to remember Location-based marketing is not “an advertising thing” but augments other marketing efforts Consumers must opt-in and find the offer valuable Overwhelmingly, opportunities are in retail Conversation is still smart phone-centric All these platforms have different ID referencing points: Aggregating and reporting is hard All rights reserved Six For Gold LLC

About Six For Gold Six For Gold is a boutique marketing consultancy that articulates the story behind brands to create compelling, memorable campaigns. Blending traditional, new and unexpected media, we believe the boundaries between B2C and B2B are blurring that successful brands are co-created with the consumer and that narrative is the most powerful marketing tool of all. All rights reserved Six For Gold LLC

Geofencing, hyperlocal and persistent location: Talking trends in location based marketing

by Six For Gold on Sep 29, 2010

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Geofencing, hyperlocal and persistent location: Talking trends in location based marketing — Presentation Transcript