For the first time, technology allows advertisers to optimize mobile ad campaigns to adjust to real-world consumer location visits, more than tripling ad performance, and finally closing the loop on advertising to drive actual customers into stores
LOS ANGELES – UberMedia, a cross-screen mobile ad platform that uniquely combines more than 1.5 billion first-party mobile data signals to deliver hyper-focused, custom ad campaigns for advertisers, has just invented, patented and launched Location Visit Optimization (LVO), a system that dramatically boosts relevance and performance of mobile ad campaigns based on real-world location visits.
“Although mobile advertising has come a long way, marketers still struggle to link their sales data to their campaign in real-time”
LVO is a new mobile machine-learning system that uses real-time and real-life data feedback of people physically visiting locations. For the first time in mobile advertising history, LVO makes it possible for mobile ad campaigns to be optimized by real location visits, to drive incremental foot traffic for advertisers.
“Although mobile advertising has come a long way, marketers still struggle to link their sales data to their campaign in real-time,” said Bill Gross, founder and CEO of UberMedia and Idealab. “LVO changes all that by allowing marketers to optimize on what matters most – real-time, real-world location visits. This method represents the next phase of mobile advertising, and has already proven to dramatically increase marketing results for automotive, fast food and hospitality brands.”
How it Works:
LVO is a machine-learning platform that uses real-world location visitation data and mobile ad campaign data to improve the performance of a marketing campaign. LVO integrates with UberMedia’s proprietary “Place Context Learning System,” which makes sense of where the mobile consumer has been, as well as its highly sophisticated programmatic bidding tools and state-of-the-art mobile ad serving. Collectively, this data is used to make split second decisions to deploy the right ads to the right people and reallocate spending to maximize location visits (foot traffic).
The Results
National fast-food chains as well as automotive advertisers and hotel chains have all seen location visits more than double with LVO, and over the course of one month, the average improvement in their campaigns has been three to five times better than ever before!
More information about LVO can be found in the attached Q&A and at www.ubermedia.com.
About UberMedia
UberMedia is a cross-screen mobile advertising platform that leverages social data, interest signals, location history, and intent cues to identify the heart of consumer decision-making. UberMedia was ranked #16 in The Wall Street Journal’s Top 50 Start-ups and was listed as one of Fast Company’s “50 Most Innovative Companies.” UberMedia has delivered dynamic advertising solutions for many Fortune 500 companies including the top retail, automotive, entertainment, consumer packaged goods, and telecom advertisers. UberMedia is a network company of Idealab, a creator and operator of technology businesses. Visit www.ubermedia.com for more information.
About Idealab
Idealab’s mission is to create and operate pioneering technology companies. Founded in 1996 by entrepreneur Bill Gross, Idealab provides a broad range of operational support to its companies, allowing the company management teams to focus on getting to market quickly and cost effectively and to take advantage of the serial start-up experience of the Idealab team. Bill Gross and Idealab have founded or advanced development of more than 125 companies including Overture Services, eSolar, UberMedia, CitySearch, Picasa and Internet Brands. Current operating companies are providing innovative technology solutions in industries such as software, search, Internet media and services and alternative energy fields. Additional information may be found at www.idealab.com.
About Bill Gross
Bill Gross founded Idealab in 1996 and is the company’s Chairman and CEO. Bill is an incurable entrepreneur who has been starting companies since he was twelve years old. Prior to graduating from Caltech, Bill started Solar Devices, a firm which sold plans and kits for solar energy products, and then he patented a new loudspeaker design and formed GNP Loudspeakers, Inc. After graduating from college, Bill Gross started GNP Development, Inc., which made a natural language product for Lotus 1-2-3 called HAL and was acquired by Lotus Development Corporation. Several years later he started Knowledge Adventure, an educational software publisher that was acquired by Vivendi Universal. Bill’s latest venture, Idealab, was founded to create, build and operate pioneering technology businesses. The structure of Idealab allows for many ideas to be tested at once and turn the best of them into companies. More than 100 companies have been created at Idealab generating more than 10,000 jobs. Thirty companies have been a part of successful mergers or acquisitions and 8 companies have had IPOs. Bill also serves on the boards of directors of numerous companies and is a board member of Trustees of the California Institute of Technology and the Art Center College of Design.
via BusinessWire
