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Weekly News: Customer Acquisition Costs, User Location Sharing, Facebook Algorithm Change

Here is this week’s roundup of the top news items related to local marketing and advertising, local media, technology, local commerce, consumer behavior and more.

Insight & Commentary

SMB Sales, Segmentation & Customer Acquisition Cost: A Better Way (May 17, 2019)
LSA Insider: “One of the key KPIs in the SMB-SaaS world is customer acquisition costs (CAC). Companies and investors are obsessed with this metric as well as others: churn, ARR and LTV. Behind CAC are questions about sales and marketing efficiency — and SMB segmentation in turn.”

The new realities of local search (May 21, 2019)
Marketing Land: “The concept of “local search” has always been somewhat ambiguous in terms of how it’s defined, how it functions and who uses it. Broadly speaking, local search helps users locate nearby services or retailers based on physical location. Over the years, local search has improved with the widespread adoption of mobile devices and the ever-increasing accuracy of geolocation services.”

Email marketers: Get more creative with customer data (May 22, 2019)
MarTech Today: “Customers know what brands have the capabilities to do, and they want brands to speak to them on a more personal level in their marketing messages. Now, people don’t just like seeing tailored emails – they’re beginning to expect it. That’s why personalization is one of the most effective ways to improve email conversions, but only if executed properly.”

Strategy & Tactics

4 Ways Location Intelligence Can Rescue Declining Auto Sales (May 22, 2019)
LSA Insider: “Recent reports show that US auto sales suffered a significant decline in 2018, and it’s possible this slowdown will continue throughout 2019. To combat this trend, car brands are juggling traditional marketing tactics and troves of consumer data in an effort to position themselves at the perfect spot in the funnel during the buyer’s journey.”

Omnichannel or Multichannel? Which One And Why (May 23, 2019)
Street Fight: “As we move deeper into the computer, internet, and smartphone era, the world of retail feels more complex than ever. But this complexity is all aimed at making the path to purchase easier for the consumer. As many aspects of our lives become more connected, our expectations as consumers are at an all-time high. We’ve come to assume, even subconsciously, that we can engage with businesses in any way we like, no matter where we are.”

As AI Adoption Accelerates, Brands Search for Competitive Edge (May 20, 2019)
Street Fight: “Not a single day passes without a headline touting the latest and greatest uses for artificial intelligence. Brand executives are taking notice, pouring millions into the adoption and implementation of AI. In Gartner’s 2019 CIO Survey, which included more than 3,000 CIOs from 89 countries, AI technology was ranked as the technology most likely to be disruptive.”

Stats & Studies

The Increasingly Confused World of SMB-Customer Communications (May 18, 2019)
LSA Insider: “A recent survey from SaaS company Broadly, conducted by Harris, found that 60% of SMBs “say customer loyalty is their most valuable asset.” That was more than 46% citing revenue and sales (multiple answers permitted). Yet, when it comes to acting in ways that support customer loyalty many SMBs fall short.”

A Year After GDPR, User Location Sharing Is Much More Selective (May 23, 2019)
LSA Insider: “This Saturday marks the one-year anniversary of the implementation of Europe’s GDPR data privacy regulations. From an enforcement standpoint, with the exception of a single major fine against Google and a potentially significant new Irish investigation, it has mostly been a non-event.”

21% of People Are Using Voice Search Every Week [STUDY] (May 20, 2019)
Search Engine Journal: “A new study reveals the rate at which people are adopting voice search to find local business information. Location marketing technology company Uberall has released a report surveying 1,000 consumers to learn more about how they’re using voice search.”

Industry News

7 Can’t Miss SMB-SaaS Sessions at LOCALOGY ENGAGE on June 3-4 (May 21, 2019)
LSA Insider: “In addition to a full day of SMB conversations on June 3, on June 4 Localogy: Engage will showcase leading SaaS companies addressing a host of market challenges: CAC and SMB acquisition, onboarding, product feedback, customer engagement and retention.”

Google, Facebook Start to Make Direct Play for Co-op Funds (May 20, 2019)
LSA Insider: “Money or reimbursements available through brand co-op programs may be worth up to $70 billion annually in the US. Perhaps half of that money goes unused for various reasons. Both Google and Facebook have become increasingly interested in accessing these funds on behalf of advertisers on their platforms.”

Facebook changes algorithm to promote worthwhile & close friend content (May 16, 2019)
TechCrunch: “Facebook  is updating the News Feed ranking algorithm to incorporate data from surveys about who you say are your closest friends and which links you find most worthwhile. Today Facebook announced it’s trained new classifiers based on patterns linking these surveys with usage data so it can better predict what to show in the News Feed.”

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