UberMedia introduced local visit optimization or LVO, a new mobile-machine learning system that will make mobile advertising 300% more effective.
According to UberMedia and Idealab founder and CEO, Bill Gross, "Although mobile advertising has come a long way, marketers still struggle to link their sales data to their campaign in real-time. LVO changes all that by allowing marketers to optimize on what matters most: real-time, real-world location visits.”
He further stated that LVO is a representation of the next level mobile advertising, as it has “already proven to dramatically increase marketing results for automotive, fast food and hospitality brands."
What is LVO?
LVO is a platform that allows advertisers to optimize mobile ad campaigns based on actual customer visits at a particular location in real time. It uses real-time and real-life location data to get feedback on people physically visiting business locations, such as auto dealer lots, cinemas, quick service restaurants, retail stores, shopping centres, etc. LVO can triple ad performance and significantly boost its relevance to consumers, as it allows optimisation of real-world retail events and/or traffic.
How Does LVO Work?
The new system measures and optimises mobile media against offline visits to bricks-and-mortar stores. A graph below shows a mobile ad for UberBurgers, which was delivered to highly targeted potential customers, prompting them to visit the nearest location. What LVO does is identify those who responded to the ad and actually went to visit the UberBurgers shops. It then analyses in real-time the user who visited and the next set of potential customers. Using the proprietary "Place Context Learning System", LVO will make sense of where customers have been and then provide advertisers information about potential customers. This increases the likelihood of newly targeted prospects to respond to the ad by as much as 300%.
LVO also comes with state-of-the-art mobile ad serving and highly sophisticated programmatic bidding tools. Using mobile ad campaign data and real-world location visiting data that were collected, the system will deploy right ads to the right people in seconds. It is also capable of reallocating spending to make the most of foot traffic. UberMedia will then measure incremental lift in sales and deliver detailed reports.
How Effective Is LVO?
Since using LVO, advertisers of national fast-food chains, hotel chains, and automotive shops have seen an increase in location visits twice as much. Their ad campaigns have also improved by 3 to 5 times on average over the course of a month.
LVO, however, is only limited for mobile marketing, although UberMedia can measure and identify which digital media drives the most location visits using other methods. The company is a cross-screen mobile advertising platform that identifies the driving force behind consumer decision-making by leveraging location history, interest signals, intent cues, and social data.