Hyper-local Advertising India – New Trend Setter
In the world of Digital Advertising, a new trendsetter is knocking on the door of new possibilities.
The Concept – Hyper-Local Advertising
“Hyperlocal content has two major dimensions: geography and time. The dimensions are measures of the relevance or value perceived by the content consumer in time and space.”
Companies across the globe are feeling heat competing with global competitors. There are some smart business houses focusing on “Hyper-Local Advertising”.
Hyper-Local Advertising is a new way of advertising within a specific geographic boundary using innovative advertising technology. Hyper-Local Advertising will open up the digital advertising market to all businesses by allowing them to target the right users at the right time. Businesses can choose their target audience within the specific radius around their business area, community/neighborhood, zip code.
According to a study titled “India Hyperlocal Market Outlook to 2020”, hyperlocal market revenue in the country saw a 41% growth in the same year when compared to 2014.
Traditional Advertising is still achieved through various different channels including billboards, newspapers, magazines, and radio. Start-ups and many small businesses have to pay huge amounts to advertise on these channels and try and compete with large businesses and brands. The challenges are immense not only financially but because there is a paradigm shift from consumers and how they are interacting with advertising. Customers are now more technically savvy and active on social media and they are more aware of brands.
The Rise of Hyper-Local Advertising in India
The Hyper Local Advertising concept has been active in India since 2014 with larger corporate brands. The concept is on the rise because of its simplicity and the marketing reach it can offer local vendors who wish to market their products with precision for a particular area.
How Does HyperLocal Advertising Work?
Hyper-Local Advertising means businesses can advertise their Message/Content to a very specific targeted audience based on the customer’s specific locations. The location is gathered by using technology inputs like GPS on smartphones.
When an individual uses an app on their smartphone the apps ask for permission to access the location data of the phone. Once the individual accepts the terms for using the application they allow their location data to be logged. Their location will be passed to the ad network or ad exchange that can sell the ad space with location information to many other channels.
How Is HyperLocal Advertising Used?
Using Hyperlocal Advertising can be very beneficial to any business looking to promote a specific product or service to a local audience. Businesses can learn and develop their local customers’ needs and desires and create local brands within a community.
What is Geo-Fencing?
Geo-Fencing allows an advertiser to select a specific area from which they need new customers and the technology will only target their ads to people within that area in real-time. This area can be as small as 500 meters and as large as required. A business can also select audience and demographic targeting such as age, gender as well as more specific interest groups.
By using effective CRM, businesses can schedule retargeting campaigns. If a potential customer has shown interest in a business’s product or service, they can be retargeted at a later stage with a promotional offer that would bring renewed engagement from the customer.
Tools are available for Businesses to perform very specific advertising based on the location the customers are in (University, Malls, Bar, Grocery Stores) as well as specific characteristics of the customer (Age, Gender, Income, Interests).
Benefits of HyperLocal Advertising
HyperLocal Advertising will be the future of advertising for many businesses and those who recognize it’s important now will have first mover advantage.
Build solid relationship with customers using effective CRM
An Economical way to advertise with efficiency to the right live audience
No wasted ad spend in unwanted or irrelevant locations/audiences
Compete with leading brands without paying brand prices
Personalization is king when it comes to the digital space and HyperLocal will play an essential role in creating a personalized customer journey experience.