The following is guest contributed post by Deidre Bakker-Riches, owner of a boutique marketing firm and consultancy, Twlv31 Marketing, and the Head of Communications for Las Vegas advertising agency, Up All Day Creative Solutions (originally published by Mobile Leaders Alliance).
The ability to measure marketing campaigns is a vital tool for any brand or company. And until now, marketers have only been able to gauge the success of a campaign after the fact, through evaluations like ad impressions, click-through rates, and web visitors. Now, UberMedia is launching a brand new, game-changing technology that will allow advertisers to optimize campaigns and adjust to real-world consumer location visits.
UberMedia, founded by Bill Gross (who also invented paid-search), is a leading independent mobile advertising platform that uses real-time optimization to improve performance. The company has more than a trillion data points on more than 400 million global mobile consumers, and combines these social signals and location to gain consumer intent. UberMedia has taken this technology one step further with the announcement of Location Visit Optimization (LVO).
LVO is a cutting-edge technology that is expected to more than triple ad performances, allowing marketers to optimize real-world customer traffic and events. The system boosts relevance and performance of mobile ad campaigns based on real-time location visits, such as customer outings at retail stores, quick service restaurants, auto dealers, shopping malls, and movie theaters. The LVO platform works by integrating with UberMedia’s proprietary “Place Context Learning System” that translates device latitude/longitude data into real locations. UberMedia does this with more than 500,000 polygon tools that use satellite imagery to precisely identify businesses around the world, which are pinpointed to within three feet of the actual locations. Collectively, when you combine LVO with the “Place Context Learning System,” the platforms can make a split-second decision in order to deploy the right ads to the right people and reallocate media spends to maximize foot traffic.
“Although mobile advertising has come a long way, marketers still struggle to link their sales data to their campaign in real-time,” said Bill Gross, founder and CEO of UberMedia. “LVO changes all that by allowing marketers to optimize on what matters most – real-time, real-world location visits. This method represents the next phase of mobile advertising, and has already proven to dramatically increase marketing results for automotive, fast food and hospitality brands.”
LVO is different from standard optimization, because historically, campaigns have been measured and optimized on media outcomes, such as click-through rates, web visitors, leads or conversions. Instead, LVO now allows marketers to optimize on the spot, in real-time.
UberMedia says that many business categories can benefit from its real-world location visit optimization, such as big box retailers, retail chains, auto manufactures/dealerships, restaurants, movie studios, hotels, and more. The company tested LVO on several categories of advertisers, comprising of automotive, retail, quick service restaurants, and travel businesses, all of which outperformed optimizing on click-through rates by a factor of two to five times.
Some of the current companies utilizing LVO include national fast-food chains, automotive advertisers and hotel chains, which all have seen location visits more than double. In addition, UberMedia noted that its automotive advertisers have been using LVO to help build incremental foot traffic and gain market share, while quick service restaurants are looking to boost visits during the key meal times.
Having the power to optimize ads in real-time at a specific location could truly be a game-changer for marketers — and if they see similar results as the fast-food chains and auto retailers, LVO will swiftly become a staple in every marketers tool kit.