“Deep Dive on Retail” reveals location data quality affects performance by as much as 4:1 across retail campaigns.
New York, NY (PRNewswire) September 19, 2013– Verve Mobile, the leader in location-based mobile advertising, today published a new “State of the Market: Location Powered Mobile Advertising, Deep Dive on Retail” report focused on retail – the #1 category utilizing location-powered advertising.
The new report is the third in Verve’s series of State of the Market studies, and goes into great detail on how location-based mobile advertising is driving consumers that last mile into brick-and-mortar stores and reveals why quality location data from smartphones are heavily influencing consumers’ path to purchase thus transforming the way retailers communicate with shoppers. Specifically, across all retail campaigns, quality of location data drives performance by as much as 4-to-1.
“As the trusted location-based mobile advertising partner to many of the nation’s top retailers, Verve is thrilled to share some of the key learnings and best-practices we’ve observed in 2013 as retailers have increasingly used mobile advertising to drive foot traffic to brick and mortar stores,” said Tom MacIsaac, Chief Executive Officer of Verve.
The findings are based on data from more than 1,500 mobile advertising campaigns delivered by the Verve Mobile platform in the retail category
Other key findings from the report include:
Retail is the #1 category utilizing location powered advertising.
The top three types of retailers using location powered advertising are big box, consumer electronics, and department stores.
- Geo-fencing, which includes geo-conquesting, is the #1 most utilized location targeting strategy deployed by retailers.
- Driving foot traffic to stores is the #1 objective for retailers leveraging location-based mobile advertising.
- For retailers, proximity impacts mobile ad performance, the sweet spot for ads served being between 1 and 6 miles.
- Location-based audience targeting is the #2 most utilized location powered strategy by retailers.
- In addition to targeting, location data can also be used to demonstrate attribution and the effectiveness of location-based mobile advertising.
The full report may be downloaded here.
This is the third in Verve’s research series. In February 2013, Verve released its inaugural State of the Market report reviewing the evolution of the location-based mobile advertising market over 2012 and followed up in Q2 with a second report showcasing insights from location-targeted mobile advertising campaigns in the Quick Service Restaurant and Casual Dining category.