Although location-based advertising is still in its infancy, there are no doubts it’s poised for massive growth. According to a new study from ABI Research, businesses will spend $1.8 billion on it in 2015 as part of their overall mobile marketing budgets.
ABI’s practice director Neil Strother says that location-based advertising is still a very fragmented market that is full of experimentation. Nonetheless, the options are becoming more clearly defined.
Among promising location-based services, there are “check-in” services such as Loopt, Gowalla, Foursquare and even Facebook (with its Places); as well as some shopping-related services like ShopKick, which rewards shoppers just for visiting certain stores.
The research company goes on suggesting a 4-step process for executing location-based campaigns:
- Establish your marketing goals, as with any other marketing campaign
- Analyze your customers’ mobile and location habits and develop your location approach
- Choose location partner(s) and determine the best technologies for your brand
- Execute your geo-targeted campaign, measure the results, and refine
And you can get more information about ABI’s “Location-Based Marketing” report from their website.