We now gaze at our phones more than we do at print media, but ad dollars spent on mobile is a measly one percent of total ad spent. With precise metrics available and the ability to cater content to specific eyes, the mobile ad market is severely underdeveloped.
Taking advantage of this opportunity, LocalResponse and RMG are experimenting with place-based advertising. Mobile users can now receive ads depending on his or her geography. Using data collected from review websites and foursquare, companies now can engage customers using location as the context. The venues, shops, and restaurants where people spend their time become useful guides on how to better target consumers.
This new frontier of geographical based ads increases efficiency by targeting interested viewers, upping the ROI for brands. Creative technology like this helps companies spend ad dollars in places that work. It’s futuristic, innovative, and compelling.