As a consumer, figuring out what you need is hardly the issue anymore. A quick Google search from your handy handheld is all it takes to give you an absolute litany of services in any category.
No, what is not the problem. With so many choices at our disposal, the issue is now where. Because no one wants to travel to a different zip code just to grab Froyo.
And businesses are realizing the value is being able to offer consumers services in their direct vicinity. This is a major factor leading to some impressive growth in the Location-Based Search and Advertising Market in the US, which is growing at a 43.01 percent CAGR from 2013-2018.
The location-based services (LBS) market is pretty fragmented between advertisers, platform providers, application developers, mobile operators, location-aware applications, proximity marketing providers, and mobile search providers, with new players popping up on the scene every day.
But even with so many vendors on the scene, there are a few that seem to stand above the rest. TechNavio analysts have taken a look at the top four vendors helping to point folks in the right direction.
Top Vendors in the Location-Based Search and Advertising Market in the US
Foursquare Labs Inc.
In case you’ve been living in a very remote cave and don’t know, Foursquare is a mobile application that lets users share information on the places they visit (stalkers, rejoice!). In addition, the application enables them to share details of their location through social networking sites like Facebook and Twitter.
Users can check in, view their history, find friends, create lists based on their choices, search for different places, read reviews about venues, and access specials and recommendations from other users. It also allows advertisers to promote their products and services through the app.
Google Inc.
Obviously, Google is the top player in the location-based services market. We don’t think it’s necessary to go into any more detail. If you want more info, Google it.
Groupon
Groupon Inc. is a godsend for the frugally-minded. It works as a local commerce marketplace that connects merchants to consumers by offering discounted goods and service in every sphere, from food and drink to events to fitness to (oddly) axe throwing (not even joking here). The company offers deals on products and acts as the merchant of record.
xAD
xAD Inc. Is probably the lesser-known of the four listed here, mostly because this vendor operates more on the mobile marketing solution side of things. It offers a mobile advertising network to publishers, developers, and advertisers and provides location-based mobile advertising solutions for local and national businesses.
xAD acts as “the intersection of places and people” (according to their site) and acts as a way for companies to identify target audiences “at pivotal moments during the consumer’s decision-making journey”.
These vendors and those like them are paving the way for cost-effective advertising. It also allows enterprises to better understand their customers and offer real-time deals to attract new clients. Given the low cost of location-based advertising, enterprises are witnessing cost benefits from related marketing activities, and transferring these benefits on to their customers, a situation that both buyers and sellers can be happy with.
