The usage and understanding of location based services increased rapidly, and location data emerged as a new mine for marketing insights. Global market revenues for MLBS and location- enabled mobile apps should reach more than $12.7 billion by 2014. From apps to operators, everyone jumped into location based mobile technology offering.
A location based service is an information or entertainment service, accessible with mobile devices through the mobile network and utilizing the ability to make use of the geographical position of the mobile device. This is useful for providing a wide range of entertainment and information services to consumers, when you know where your vehicles and your customers are, you can get the right person to the right job quickly and easily, every time.
Consumers are increasingly demanding services such as search, maps or navigation, for which location information is either fundamental to or provides greater context, utility and therefore appeal. And for advertisers, location data provides opportunities for ad targeting and optimization. Strategy Analytics sees strong evidence of consumer demand for location based services in line with rising smart phone and data plan penetration.
Carriers need to get on board with location based services, for a long time carriers were focused on building their subscriber list, but now there is a source to build their revenue. They should change the way think about their business model and the most innovative companies are certainly beginning to do that.
Privacy is important. Most consumers are willing to share their location date, provided that they get something back in return. However, they are not comfortable in companies broadcasting their data.
One successful example of local businesses that are using mobile location based social applications is Pizza Hut. Pizza Hut can offer special offers to users through the location-based technology, Four Square is their mobile location marketing platform, with Foursquare users can “check-in” then tell their friends where they are and what they are doing. When a user checks in to a location, they receive points; if they check in to a certain place a specific number of times, they can be crowned “Mayor”. The company keeps customers interested by offering badges and points for checking in to particular places more than one once and builds up anticipation around important events.
If you have an offline business, you need to broadcast your local offers through mobile location-based services platforms.
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