I attended a panel on location-based and geosocial marketing in Los Angeles this week as part of Social Media Week. The panelists were from a variety of companies and their positions ranged from CEOs, to analysts, to digital strategists. They discussed the current state and the future of location-based marketing and geosocial apps and it is truly fascinating to learn about the endless possibilities in this area. I’d like to share with you some of my key takeaways and thoughts on the panel that will hopefully stir up some of your own creative juices when it comes to location-based marketing.
Marketers must find fresh ways to keep consumers interested.
When the right tools are used in the right way, location-based and geosocial apps can theoretically reach out to everyone. The potential is huge. However, the issue here is that there is a danger of users opting in or “liking” a company only because they want free stuff and discounts. Marketers must find ways to keep customers and potential customers passionate, and people simply aren’t passionate about discounts. Content marketing, or the creation of compelling, relevant, and valuable content, will only continue to gain importance and marketers must continue to find innovative ways to reach their audiences, especially before any kind of “social media fatigue” sets in.
The availability of data correlation is constantly expanding.
With the current and future location-based and geosocial apps, data can show not just where, but how many and who. Purchasing data is frequently collected, especially for those who have connected their AmEx cards to their Foursquare accounts, and this purchasing data allows for an immense amount of data correlation. Marketers have already been jumping on this opportunity, and as technology progresses and the available data gets more extensive, there will continue to be ample opportunities for mobile marketing.
Marketing is a value exchange.
It’s about utility, value, and relevance. A successful mobile marketing campaign establishes long-term relationships with consumers by following these three characteristics. Again, marketers can use engaging content to create value for the consumers. I really enjoyed a guest post on Brian Solis’ blog from early 2012 that delves much deeper into the mutual exchange between brands and consumers.
It’s about creating experiences.
Creating valuable and memorable experiences for consumers is essential for successful location-based and geosocial marketing. Something happening currently but that will continue to grow is content that is delivered contextually based on someone’s location. One panelist gave a great example of a band who recorded its album in Central Park, and music fans can listen to that album only through a mobile app and only when they are in Central Park themselves. Another panelist showed us a short video of a widely successful overseas campaign that brought together the youth, their clothing, and their music. Check out the flashy campaign video:
For more insight into location-based and geosocial marketing, check out the full panel on the Social Media Week: Advertising & Marketing Livestream page.