Location Based Service
A report from Juniper Research forecasts reports that location services market and mobile context will reach $43.3B in revenue by 2019, rising from an estimated $12.2B in 2014. This approximation is a clear sign that most brands understand that location marketing has a huge power of driving a higher conversion rates and most importantly the benefit of connecting with consumers while they are on a go, in the right place and time.
The only set-back is finding the balance between brand goals and consumer privacy. Location-based marketing potential is immense and it’s really important to do it the proper way by balancing goals and privacy.
One brand that is utilizing this system is Lord & Taylor sends “mystery” coupons when they passed within 500 meters of a store.
Lord & Taylor uses and app called SnipSnap, which is one of the best-location-based market app. SnipSpan gives consumers the option to be notified about coupons based on your current location. This feature delivers the ability to report location changes in the background. This app also lets its users convert printed coupons into digital, mobile format for redeeming and obtaining reminders.
The location-based market reminds you when you arrive at a store, you have deals saved for. This App has its own recommended offer engine, which is an amazing scheme for mobile coupons. This app uses keyword, store, category and location-based criteria to target clients.
In Guatemala, a specialty shoe retailer called Meat Pack, uses location results to detect when its customers are in rival’s store in the same area. In return, it then sends offers to the customer’s phone. This shows how the future of mobile is changing. In Bangladesh, there is a computer program evolved by researchers, the program recognizes user’s emotions. The program tracks keystrokes dynamics and analyzes patterns. The future of this wonderful technology is very bright.
PayPal is another brand that uses location service to get a list of nearby stores who accept PayPal payments.
Sources and pictures courtesy of:
http://www.mediapost.com/publications/article/231639/lord-taylor-sees-promise-in-beacons.html
The Marketing Explorer 