On the heels of Visa launching its own iPhone application yesterday aimed at alerting users of nearby deals, JiWire is throwing its hat into the ring as well with the launch of a unique location-based mobile display advertising network aimed at retailers.
JiWire is no stranger to location-based advertising, and its new platform — dubbed “Compass” — provide seemingly normal display ads that upon being clicked, provide users with product availability and real-time in-stock information for nearby retail locations. The company says products and services span more than 200,000 retailers and product manufacturers, and allow consumers to call or text a merchant, put items on hold, make Online purchases, schedule appointments and even make reservations — all by clicking on a mobile banner ad.
When a Compass ad is launched, it pulls in location-specific data about the advertiser, delivering brand-relevant information to the user according to their proximity. If the user selects the ad, it expands to a full-screen experience with product and mapping data.
The company’s so-called “App-in-an-Ad” technology provides a highly interactive experience typically only available by deeply integrating with an individual publisher or mobile app. Most popular location-based apps have less than 2 million monthly users, limiting the scale of the marketing campaign, but by recreating that app experience in an ad unit, Compass can run anywhere within JiWire’s public Wi-Fi and mobile app location media channel — reaching an audience of more than 40 million monthly uniques.
“The digital world and the physical world are merging, which is driving the birth of location media,” said Kevin McKenzie, founder of JiWire. “Consumers are demanding location content and our advertising partners are adopting new ways to locationize their brands. In fact, we have closed seven-figure deals with Fortune 100 companies who understand how relevant location-based advertising is today. Compass is delivering on the next evolution of how this industry is going to monetize location-based advertising.”