SoMoConf: New LSA Database Houses Data from 200K Local Campaigns
August 21, 2014 | Contributed by: Joe Morsello
This session with Jason Peaslee, founder of Thrive Analytics, and Hynek Stehno, VP of digital services at SMG Local Spectrum, started with a plethora of data points showing just how much of an impact mobile devices have on consumer media consumption. Stats included:
- Over half of time spent online is on mobile devices;
- Mobile phone users check their phones 100 times a day;
- 60% of consumers use mobile devices to find information on local products and services, with 40% being “on-the-go”;
- 39% of agencies are using location-based data to target mobile consumers; however, Hynek felt that “it should be 100% of agencies using location data” given the importance of relevant ads;
- 70% of consumers are willing to share location info if they get value in return like deals coupons, loyalty points or other forms of rewards; and
- Roughly $4B-$6B will be spent this year on location based mobile advertising.
From agency standpoint, Hynek talked about how advertisers often start with very simple geo-targeted mobile display in order to drive relevance as much as possible. Advanced tactics like geo-fencing and geo-conquesting are used as well, but some of the greatest success is coming from clients with a optimized marketing mix between mobile and traditional venues.
In addition, Jason gave a glimpse into the Local Search Association’s new Metrics that Matter database that has data from roughly 200K local campaigns spanning various forms of media. When looking at 10K geo-targeted mobile campaigns, the database showed a 2x increase in click-through rate (CTR).
Hynek talked about how CTR is great directionally, but the real value comes from the secondary action like click-to-call, click for directions, etc. When looking at these actions, Hynek says you get a much better sense of ROI.
Tags: 2014 SoMoConf, Borrell Associates, Local Media Association, Local Search Association, mobile marketing, social + mobile, Social + Mobile: Show Me the Money!, social media, social media marketing, SoMoConf