Understanding Marketers Top ‘Pain Points’ When Using Geo-Data

About 38 percent of marketers say they have difficulty deriving context from the historical insights about consumers when using location data, a survey by Verve and Forrester have found.

At the same time, another 37 percent say they can’t achieve the expected “granularity” when attempting a geotargeting campaign. In Verve’s analysis, those findings suggest that brands are not able to take advantage of “the unique characteristics of mobile in the effort to maximize advertising value for the consumer.”

The study, Pursuing the Mobile Moment, was conducted in June and was based on an online survey of 203 “marketing decision makers” in organizations that spend $250 million or more annually on advertising in North America.

On the positive side, the idea of location marketing has clearly achieved mainstream marketing acceptance. About 74 percent of the advertisers surveyed say they appreciate location’s value in helping to craft and deliver more “relevant” ads, particularly when it comes to “micro-moments“— those on-the-go periods when a need to satisfy an impulse (coffee, a place to eat,) come up.

Additionally, nearly half the respondents value location data’s omnichannel usefulness in driving incremental in-store visits. But closing the gap between recognizing location’s importance and the ability to get the greatest ROI out of these marketing methods is something that the industry can’t simply ignore, says Julie Bernard, Verve’s CMO.

“It’s not enough to point to the successful outcomes that leading global brands are achieving with location-powered mobile marketing; we have to strive for even deeper insights into what advertisers across the spectrum of mobile-marketing maturity are experiencing,” says Bernard in a statement.

As Forrester concludes in its recommendations, understanding that the quality of location data depends on the source, and how it differs in accuracy, scale, and access, is the first step that brands and their agencies and vendors need to be clear on.

“Limiting these differences means asking a few questions,” Forrester says. “Where does the location data come from — for example, a first-party SDK, a publisher, and/or a beacon? How accurate is the data and how is it validated? What types of location tracking are available for gathering historical insights, cross-device tracking, measurement, and attribution?”

In terms of the discussions that brands, agencies, and location data providers need to have, Verve CEO Tom Kenney recently discussed the ways platform companies can build confidence and stability in their offerings.

“For location-powered leaders and their brand and publisher partners, the high king is the technology that we use to make all this data and media and expertise come together in a unified way. It’s this unification that drives real-world sales,” Kenney wrote in an contributed piece this past month. “It’s the platform. It’s the result of the engineering inventions that empower us to execute with accuracy, speed, and overall excellence as we create meaningful and responsive mobile moments for the consumer.”

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YP Taps Verve To Help Expand National-To-Local Ad Reach

YP has signed up Verve as a display ad distribution partner as the company, which bills itself as “The Real Yellow Pages” looks to expand its reach and focus to serving national brands that want to target local consumers.

The deal comes a week after the rollout of ypWebsite Pro, which helps local brands create central internet hub with a mobile-responsive, SEO-ready website.

This agreement between YP and Verve is actually an expansion of an earlier partnership to power YP’s mobile display for SMBs by extending similar capabilities to national brands.

YP’s pitch to brands is that consumers arrive at YP’s sites by searching for a specific local product or service.

The company backs that up by citing conducted by comScore on behalf of YP, 74 percent of YP users make a purchase after searching, and those searchers spend an average of 34 percent more per purchase than all searchers.

Therefore, serving YP’s display ads to those “intent-focused” consumers would seem to be particularly valuable — especially outside of the confines of the websites within YP’s own network. Working with Verve will spread those display ads to placements within the apps and publisher sites that Verve is aligned with.

“With millions of users, YP is committed to connecting local businesses with consumers wherever they are, on whatever device or medium they’re using,” said YP CEO Jared Rowe. “We rely on industry leading partners like Verve to help us expand our reach beyond our owned and operated channels. This agreement allows us to focus on our large consumer audience while delivering even more value to our clients.”

Although the emergence of connected intelligence through voice-activated digital assistants like Siri and Alexa may soon call the utility of a brand’s website into question, the fact remains that brands need a central hub for the vital business information consumers need, Stu MacFarlane, Executive Vice President of Products and Marketing at YP, noted in an interview with GeoMarketing last week.

“Websites are foundational to connecting local businesses with consumers, and a strong SEO strategy is critical to delivering traffic to their sites,” MacFarlane said.

From Verve’s vantage point, the idea of display ads being “static” or leading to banner blindness, particularly within the mobile space, ignores the fact that they still reach and influence millions of consumers.

“Mobile marketing is far more than a banner displayed on a phone,” said Verve CEO and President Tom Kenney. “It is a powerful opportunity for brands and publishers to deliver extremely relevant and localized messages in contextual moments that resonate with consumers. We look forward to combining the Verve location-powered insights and targeting model with YP’s exceptionally large user base to deliver superior consumer experiences and tangible business results for advertisers.”

 

 

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