Mobile advertising has become a hot topic and a promising new medium because it adds location and mobility to the equation when it comes to reaching consumers – powerful variables that can increase brand engagement in new and extremely valuable ways. Of course, as with any new technology or service that has exploded like mobile advertising, there have been questions around just what kind of mobile advertising is the best and, more importantly, the most effective. Ultimately, it needs to start with the consumer by providing them with hyper-relevant offers. You don’t want to offer a consumer a meal at 50% off if they live 100 miles away – but you do want to offer a free ice cream to someone who lives around the corner.
PayPal Media Network, has announced two new products that mark a giant leap forward in helping advertisers quantify and understand how location factors into consumer brand engagement.
GeoMetrics enables advertisers to compare campaign performance within different geographic parameters by pinpointing where specific customers are when they engage with brands. GeoMetrics is the most sophisticated analytics suite on the market and it’s designed for location-targeted mobile ad campaigns to identify proximity to points-of-interest where consumers are most engaged, enabling advertisers to target the highest-performing mileage rings, zip codes, cities, or states in order to reach specific audience segments. This will give advertisers information about how audience location impacts the campaign’s overall performance so they can adjust their tactics accordingly to reach the right audience in the right location at the right time.
Keeping in mind that a consumer’s location can say a lot about who the consumer is, we’ve also developed GeoAudience, a sophisticated data layer that offers a privacy-friendly way to leverage location in order to maximize results. By aggregating both online and offline data, advertisers can precisely target specific pre-set audience profiles (e.g., business traveler, SUV owner, foodie) or even the audience most likely to occupy a particular location at a given time of day, such as the occupants of a Financial District at 10 a.m. on a Tuesday. GeoAudience also allows advertisers to customize their audience profile to ensure they’re reaching the consumers that will benefit the most.
These two new solutions that will advertisers the ability to “cut through the noise” in order to reach the most relevant audiences in the most relevant locations at the most relevant times. Together they will take much of the guesswork out of mobile advertising and give brands the ability to serve ads only where they are most effective.
GeoMetrics and GeoAudience are two significant advances in the mobile advertising space that will help “close the loop” between advertisers and consumers, and enable them to establish more meaningful relationships that will ultimately be the foundation for the future of commerce. It’s a win-win, delivering hyper-relevant offers to the consumers you want to reach and ultimately giving large/small merchants/retailers a bigger return on their advertising spend.
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