Businesses don't need to be sold on mobile advertising anymore. The vast majority of executives understand that there's great opportunity in targeting consumers through mobile devices, and they're willing to pour funds into this platform-specific marketing. The mobile ad industry already generates billions of dollars in revenue every year and is projected to hit $25 billion in 2016, according to Seeking Alpha.
The more pressing challenge for marketers isn't reaching a verdict on mobile advertising but seeking methods of optimizing those efforts. Fortunately, new technologies are creating better ways of targeting consumers through mobile ads to elevate ad engagement and overall campaign value. As you move forward with mobile ad strategies, here are a few targeting methods to help elevate the value of this work.
Geofencing and Geotargeted Campaigns
Mobile devices offer the unique opportunity to target by location. As StreetFight notes, companies can choose to deploy a geofenced or geotargeted advertisement to devices within a certain area, thus controlling the proximity of displayed ads to the nearest store. By utilizing population density figures, companies also control the approximate population to whom the ad is displayed. You can reach your target audience at the point of decision, by creating audience segments that combine the intelligence of consumer intent, mobile behaviors and demographics. Geofencing is a great tool because mobile users are always in motion, so real time behavioral metrics assist in reaching the right audience at the right place, at the right time, and deliver creatives in a timely manner.
Targeting on an Hourly Basis
Mobile device usage is far from constant among consumers. Activity ebbs and flows throughout the day, and trends are different for both smartphones and tablets. Smartphones, for example, are accessed throughout the day, particularly during morning and evening commutes. Tablets, meanwhile, are usually reserved for use in the evenings and weekends.
Marketers can utilize these trends to time their mobile ad campaigns accordingly. Ads should be timed to display during periods in which conversion rates are the highest. Don't target according to impression volume because this can be misleading. Instead, focus your efforts into the time windows when consumers are most likely to engage a mobile ad.
Small adjustments to mobile targeting can yield worthwhile optimizations that increase the value of an already-critical advertising channel.