SoMoConf: YP, Local Market Launch, DexMedia, CloseBy Talk Monetizing Mobile
August 21, 2013 | Contributed by: Joe Morsello
LSA’s own Neg Norton kicked off this panel with some compelling statistics on the growth in smartphones in the market. He said that smartphones make up roughly 60% of the entire cell phone market and about 2 in 5 people who own smartphones also own another connected device.
Once the stage was set, Dick Larkin of CloseBy gave a look into a client that was able to significantly increase sales through a simple text message. With about 6,000 phone numbers in the clients texting list, they were able to generate $12,000 in sales which was a 30% increase compared to the same week a year earlier. He also gave some tips for text message marketing:
Mark Ugar of YP talked about the importance of understanding the supply and demand curve when it comes to selling mobile solutions. He said that a plumber in Glendale, CA might have a different cost per lead equation than a plumber in Peoria, IL. With that being said, YP has developed a sales model that is fluid which has given them the ability to be more flexible with their offers in order to personalize for each market.
Gideon Rubin and Local Market Launch approaches mobile with an emphasis on optimizing business listings across devices and getting listed on the appropriate channels for a specific market. According to Gideon, with the tremendous growth in mobile local search, optimized, accurate and consistent business listings are absolutely crucial for any local business. On the other hand, Local Market Launch has found that about 60% of the listings for any given business is inaccurate or inconsistent with other listings which is what Local Market Launch works to fix.
Finally, James Price of Dex Media, gave the audience a look into their sophisticated bidding tool they use for mobile. The tool allows advertisers to set a budget for each month and then bid on ads without ending up spending more than budgeted. Advertisers are then sent alerts when they are outbid. Also, he reinforced the importance of business listings first mentioned by Gideon.
The session brought together a variety of ideas on mobile and led to some great conversations.