Tag: location based search

Geolocation technology using searches and advertising are taking off in the country, says TechNavio.

A technology focused global research firm called TechNavio Research has now released a report that has shown that the increasing penetration of smartphones and other mobile devices has fueled a considerable growth in the American location based marketing and search market.

The firm has forecasted that from last year through 2018, there will be a compound annual growth rate (CAGR) of 43.01.

Location based marketing uses a mobile device owner’s specific position – as reported by that device – to promote brands, products and services that are in close proximity to that individual. Over the last few years, it has increasingly become the standard for smartphones and tablets to be GPS enabled, and those devices are achieving greater popularity among consumers. In the United States, it was reported, last year, that there was a 65 percent penetration rate for smartphones that were enabled with GPS technology.

It is expected that by 2016, over 90 percent of devices will be capable of supporting location based marketing tech.

According to the TechNavio vice president, Faisal Ghaus, “The huge number of smartphones being used in the US acts as a catalyst for the incremental adoption of mobile LBS applications such as location discovering, friend finder and location-based advertising, shopping and networking.”

Companies have recognized that there is potential value in providing consumers with advertising that is based on their specific location and have been increasingly adopting location based services in order to appeal to those shoppers.

Among the large businesses currently testing campaigns that employ this technology are PepsiCo Inc., Starbucks Corp. , and L’Oreal Inc. The latter of those companies has already launched a pilot campaign to test the cost effectiveness of this technology when compared to other electronic media as well as traditional print advertising.

Ghaus pointed out that as location based marketing costs are relatively low when compared to many other forms of advertising, “enterprises are witnessing cost benefits from related marketing activities and transferring these benefits to their customers.” This can also assist businesses in better understanding their customers so that more relevant and attractive deals can be offered.

Local Corp has just announced that it will be powering this feature for the Microsoft search engine.

The operator of the Local.com search site, Local Corp, has just announced that it will be responsible for providing the geolocation based listings for products and services on the Bing search engine.

The shares of the company skyrocketed on the Nasdaq by 41 percent following the original announcement.

According to the company, the geolocation product listings search feature will be powered by the Krillion shopping data platform which is owned and operated by Local. That platform provides consumers with information regarding local shopping opportunities such as consumer products from retailers. This includes current discounts, comparison pricing, the availability in store, and images.

Geolocation technology is used to make certain that the shopping data is relevant to the consumer’s current location.

This is helpful to mobile consumers who are looking for products and services that they can purchase at a nearby brick and mortar store location. It also helps to make sure that they will find the best deal in doing so, providing them with options that are available from all of the various shops that carry the desired item within their area.

This geolocation feature will give Bing the opportunity to provide local search results for consumers that can be refined down to retail stores, brands, and the actual availability of the specific item within a designated store location.

Krillion was originally acquired by Local just over two years ago. The acquisition was clearly a clever one, and it is certain to pay for itself many times over after having been integral to the geolocation results deal between Microsoft’s Bing and Local. Moreover, Microsoft isn’t the only large search engine company that has been involved in a partnership with Local. Google, Inc. is currently Local’s largest partner and was responsible for generating 44 percent of its revenue last year. Twenty one percent of its revenue, last year, came from Yahoo! Inc., another partner. At the moment, the market share in the United States for Google is 67 percent, with another 11 percent belonging to Yahoo! Bing is also on the rise, having risen to its current place at 18 percent over 16 percent at this time last year.