"Geo-conquesting" – a term used to describe mobile advertising tactics that grab attention away from competitors when they are in the competitor's location – is the next big thing, according to xAd.
Today, xAd released findings in its Q2 2013 Mobile-Location Insights Report that showed businesses from restaurants and retail to financial services and insurance are successfully employing geo-conquesting, driving customers away from competitors and into their own doors. In fact, geo-conquesting is up 10 percent from Q1 2013, according to the report.
The categories experiencing the most success don't even require an in-depth purchase consideration by target consumers, xAd noted:
So what should you consider if you're interested in conquering your local competition with mobile ads?, Monica Ho, xAd's VP of marketing, said to keep the following in mind:
- Test different targeting radiuses: The optimal targeting radius used for geo-conquesting will vary by business and industry. As a result, test multiple distances in the campaigns to determine the appropriate targeting fence for the locations.
- Use location-aware creative: Location is central to geo-conquesting, so leverage this unique feature to create the most relevant creative by telling the consumer how near they are to your locations.
- Use action-oriented creative: Coupons, promos, new products or limited-time offers provide an extra incentive for a consumer to choose a brand over it's primary competitor.
- Make conversion easy: The fewer barriers between a consumer and a business, the more likely they are to come in the door. As a result, provide one-click access to things such as phone number, location map or map and driving directions.
- Track performance past the CTR: Secondary action rates are especially important in geo-conquesting, as these consumers may need something extra to attract them from going into a competitor's location. Understanding what they are looking for (directions, menus, coupons) is key to the success of current and future campaigns.
Published quarterly, the xAd Mobile-Location Insights Report provides trends into the current mobile landscape. Data from the Q2 report derived from xAd's platform in April 2013 to June 2013 from more than 200 unique national brand advertiser campaigns.