Advertisers love retargeting because it makes their campaigns more efficient; as more of the right messages reach the right audiences, in theory they can optimise advertising spend and engage audiences with more relevant content. So far, retargeting has been largely based on browsing history using “cookies’. However, in a mobile world this is all about to change...
Asif Khan, Founder & President of the Location Based Marketing Association describes location as the ‘new cookie’.
From phone to tablet to wearable tech and back again
In a world where people are constantly changing from phone to tablet to laptop to now wearable tech - retargeting works across devices. And retargeted location-based ads work; getting up to approximately four times the industry average click throughs (CTR). This increase is due to the higher relevance of location-based retargeted ads than standard mobile retargeting.
So how does it work?
Kaplan, a private education institution in Singapore, has been using location-based retargeting to reach out to highly specific groups of potential students in Singapore.
Location-based advertising experts YOOSE worked with Kaplan to define initial GPS geo-fences around locations where their target audience was mostly likely to spend time. YOOSE was then able to define an audience of 40,000 unique users that had viewed or clicked on the ad. They then retargeted this location-defined audience with another highly-specific Kaplan ad. Retargeting this location-defined audience with a more relevant ad meant YOOSE were able toincrease the CTR from 0.32% to 0.50%.
Privacy has been one of the main concerns in the desktop retargeting area for some time with people comparing the industry to a real-life Minority Report. For location-based retargeting, audience profiles remain strictly anonymous at all stages of the campaigns, additionally people can opt out of a device's location-based services at any time - protecting their privacy.
From a consumer engagement perspective, location-retargeting gives brands opportunities to engage deeper with consumers tailoring content to make it more and more relevant each time. Technically it can work not only across devices but also a whole range of new location-based technologies such as bluetooth sensors called beacons and Wi-Fi hotspot landing pages in addition to GPS geo-fences.
As advertising campaigns catch up with increasingly mobile consumers, you can expect to see more of this in 2015.
YOOSE is the market leader in location-based advertising solutions in Asia-Pacific and Europe. An early pioneer in location-based technology, YOOSE has been delivering powerful campaigns for global brands since 2008. YOOSE understands how location-based technology is changing the way mobile consumers behave and interact with brands; it employs its deep expertise, wide experience and passion to help brands capture the opportunities that the rapidly evolving area of location-based advertising can bring. www.yoose.com
Ranked as the number one Preferred Private Education Institution in the 2013/14 JobsCentral Learning Survey, Kaplan Singapore has established itself as one of the most respected private education institutions in Southeast Asia. It provides top-rated diplomas, undergraduate and post-graduate degrees, professional qualifications and English-language programme to students from almost 20 countries. www.kaplan.com.sg
About the LBMA
The Location Based Marketing Association is an international group dedicated to fostering research, education and collaborative innovation at the intersection of people, places and media. Their goal is to educate, share best practices, establish guidelines for growth and to promote the services of member companies to brands and other content-related providers. Members of the LBMA include retailers, agencies, advertisers, media buyers, software and services providers, and wireless companies. www.thelbma.com