Location based marketing about to BOOM! Get on the train, brands! (if that´s where they check in... lol)

 

Location based marketing (through Facebook Places or Foursquare) has great potential! Pyramid Research estimates that the worldwide market for location ads will reach $6.2 billion by 2015, growing 35% from 2010.

A new Us study shows consumers under age 35 are particularly willing to share location in exchange for value.

Q2 2011 data from mobile Wi-Fi hotspot provider JiWire indicates that 53% of all mobile Wi-Fi users are willing to share their location to receive more relevant content. Younger consumers are particularly responsive to location-based programs—60% of 25- to 34-year olds and 58% of those under 25 are willing share location.

A Nielsen study showed that consumers under 35 are less concerned with privacy when using location services than older consumers. Half of 25- to 34-year-olds told Nielsen that they are concerned about privacy when using location-based services, compared to 61% of consumers older than 45.

29 % in the JiWire study said a deal was the most important piece of brand information for them if they were within 1 mile of the retail location, compared to 24% who said the same 10 miles away. Respondents also listed customer reviews, directions and product information as location-related content of interest.

Thanks to emarketer.com for the data!!!