Neil Salvage, CityGrid Media: The Best Models are Closed-loop
April 18, 2011 | Contributed by: Natalie Wuchenich
Today we got a chance to hear from Neil Salvage, EVP of advertising at CityGrid Media, about the fast rise of mobile technologies developed to drive new customers.
Small business owners today are focused on running their business and not necessarily keeping up with the changing media landscape or trend of the day. They really just want to find new customers. Local Search Association members today are selling a variety of features, but Salvage argued they’re all part of a single product since “the small business owner doesn’t care if his new customer comes from the phone book or the Internet.”
With the fast evolution of products, pure online players weren’t as fast in setting up tracking tools. According to Salvage, the print industry really led the digital industry in this space. As consumers began moving online, pure online players learned the importance of tracking for their advertisers. But the best advertising models today are closed loop (i.e. servicemagic, OpenTable, Groupon) because advertisers know that their ad is really working. Mobile is creating opportunities for new types of closed-loop through lat / long detecting applications, push offers, card-linked offers and mobile payments.
The four key innovations according to Salvage:
1) Metered lines to track the source of customer calls.
2) Reporting dashboards that show business owners the value they’re receiving from their program.
3) Reputation management guidance to navigate and manage the growing consumer review space.
4) Check-ins so businesses know you were there (and show your ads are driving value).
Whether print, online, social or mobile, “it’s all about finding new customers which become repeat customers.”
See our backstage interview with Neil Salvage.