LBS (location-based services) marketing is more than just checking in on Foursquare or Facebook, and it’s set to become bigger as the Location Based Marketing Association (LBMA) opened its regional chapter in Singapore this month.
Juniper Research estimates mobile LBS to be worth US$12.7 billion by 2014, with more than 1.5 billion people using it.
LBMA Singapore’s founding members include Christian Geissendoerfer, CEO of hyper-local mobile ad network YOOSE and Melvin Yuan from YFind, an indoor positioning specialist firm.
Geissendoerfer told ClickZ.asia in a phone interview that the LBMA is established to connect brands and agencies with the region’s platforms and providers working in the LBS market.
This could also involve leveraging its global network members, which include companies like Google and McDonald’s, to support them in location-based marketing campaigns.
The association would aim to facilitate quarterly events and provide ongoing programs in education and research, particularly case studies from the Asia market.
Singapore has been chosen as LBMA’s Asia hub due to several reasons from having high smartphone penetration in the country to a rich diversity of LBS players ranging from retailers, advertisers, and media agencies to service providers and wireless companies, including a thriving startup community and tech-savvy consumer base to drive rapid adoption.
Even Yoose, the location-based display mobile ad network has evolved since it started in 2010 as a couponing, mobile wallet startup, Geissendoerfer noted.
Yoose partners with mobile ad network aggregators such as Smaato and Millennial Media to acquire the reach (mobile traffic) to do hyper-local targeting through banner and display ad campaigns to drive mobile users to stores, for instance. The network sells to advertisers through premium buys based on a CPM (cost per impression) basis.
Based in Singapore, the hyper-local mobile ad network has rolled out campaigns in India, Singapore, Australia, UK, and Germany.
Its recent campaigns include working with financial consultant Accenture in Malaysia, Optus in Australia, and a real estate developer in Philippines as well as a pilot project with Sprooki, an m-commerce app for malls and retailers in Singapore.
Singaporeans and Their Smartphones: Mobile Ads, Banking, and Shopping [MMA Study]
Singapore has 7.8 million mobile subscriptions this year and a 150 percent smartphone penetration, making it one of the highest in the world, according to the latest report from the Mobile Marketing Association (MMA).
Based on a survey of 360 mobile users in Singapore in July, the report revealed the following insights on mobile marketing:
- 75 percent of respondents are receptive to mobile advertising – 42 percent are interested to view mobile ads if there is a good deal available, and 32 percent want to see relevant material.
- 57 percent have made a purchase on their mobile phones, and 36 percent are regular viewers of deals or mobile couponing apps on their mobile phones.
- 58 percent of respondents have used mobile banking at least once.
More information from the MMA infographic below:
Based on survey results, mobile banking, payments, and shopping are already extremely popular, Rohit Dadwal, MD at MMA APAC said.
He noted that mobile would become more deeply entrenched in day-to-day business operations in the future.
“We will see mobile being used in innovative new ways as a channel for providing an even wider spectrum of services,” he added.
The MMA infographic also revealed the percentage of users that prefer mobile over their friends, family, and laptops, and a whopping 96 percent chose mobile as a travel companion in public transport to surf, email, and watch videos.
(Source: MMA SmartGraphic on Singaporeans and Their Smartphones)