If you run a company with multiple locations and have yet to utilize location based mobile advertising, your businesses are likely missing out on a considerable degree of potential earnings.
A recent report from BIA/Kelsey indicates that the explosion of smartphones and advanced capabilities (like location awareness and connectivity) “will help propel location-targeted mobile advertising revenues to $6.6 billion in the U.S. this year.”
But the revenue gains to be experienced by location-marketing friendly businesses will only be realized if said businesses finally take the plunge and embrace this technology.
Auspiciously, the research firm’s U.S. Local Media Forecast 2015 indicates that the local targeting objectives of national brands, franchises and multi-location businesses have led to a renaissance in local media and advertising.
It is now projected that national brand spending will represent 43 percent of location-based advertising by 2018, representing $68 billion in spending.
“Nowhere do ‘national’ and ‘local’ come together more than with multi-location businesses,” said Michael Boland, VP of content for BIA/Kelsey. “They are inherently national in their footprint and resources, but they are local in that they compete for customers in the local markets where they are present. This makes them a significant participant in the local advertising ecosystem.”