In the recent Street Fight’s “2013 Report on the State of the Local Merchant” Many merchants surveyed stated uncertainty was the single biggest reason that prevented them from using Geo Location channels.
Some vendors like AdSmart, are rising to the occasion by providing franchises with simple metrics way they can use to tell if their ads are effective. By making it easier for franchises to see how their ads perform, uncertainty is reduced. Here are four strategies that Stephanie Miles, an associate editor at Street Fight, recently discussed regarding location advertising.
1. Articulate the business objective. Every strategy requires you to clearly understand your business objective (i.e., ‘increases franchise sales by X% profitable terms’) and the marketing objective (i.e., ‘increase number of potential buyers’). As the campaign executes, you can monitor the results against the success metrics. When the results are analyzed, it becomes a much easier decision to make. If the campaign is not delivering, either tweak the implementation based on the test/control, or try something new.
2. Emphasize CTR and conversions. “There are really only two metrics that matter in mobile advertising: click-through rates and conversions. Businesses must pay careful attention to them. If you’re not seeing the numbers, it’s time to re-think the creative and call to actions (CTA). One of the most effective ways to increase engagement is to have a clear call to action and offer. A compelling offer will significantly increase your click-through and conversion rates. Without question, localizing your ads is the best way to increase click-throughs and conversions. The closer a mobile phone user is to a storefront or office, the more likely the local mobile ad will turn into business.
3. Bring the big picture to life. “You should focus on the overall viability of your marketing strategy, not the performance of one individual channel. The overall strategy should set out the specific metrics that will be measured, and each channel should be evaluated through a test plan that includes a rigorous evaluation against goals. If a program is more focused on brand awareness, then clicks, downloads and shares are important. However, if you are trying to drive sales, then concentrate on shopping cart statistics and sales.
4. Optimize for performance in real-time. Online – Marketing is about A/B testing and with today’s tools, it’s easier than ever to make decisions. When any activity can be tracked, often in real-time, then you can help understand what’s working, what’s not, and what’s to fix. … By creating variations of the same ad, effective comparisons can optimize results over time.
Mobile is the only advertising media that is growing. Franchisers must find ways to effectively use this new media or be left behind in on line marketing.
Steve Bridge is a Certified Franchise Executive that specializes in on line marketing. AdSmart, one of his companies, provides mobile marketing advertising for the franchise industry.