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About the Episode
Do you get excited when you hear the words beacons or geo-fence? Well today’s guest built a location-powered mobile engagement tool and he talks about best practices and monetization using location-based marketing. But that’s not all, we get into fundraising, how to compete against big enterprises and tools to help you form partnerships with big companies.
Monetization Using Location-based Marketing
There are two main pillars where Rover is helping developers monetize and the first one is centered around branded experiences. If you are a concert app, for example, Rover can geo-fence all the large music festivals and by doing so, deliver exclusive location-based experiences to the folks going there. This can include giving them the lineup, providing links about the artists, music trivias and other things which can enhance user experience. These can then be delivered as sponsored experiences wherein these extras can be ‘brought to you by’ a certain liquor company or whoever you will partner with.
The second opportunity is the value of location data. You can leverage the location data gathered not just for your own purposes but also to retarget and to add value. You can marry advertising identifiers with location data to create more valuable profile of your market to target more relevant content.
Forming Partnerships with Big Companies
Rover has built relationships with big companies and John shares that doing this just boils down to trying and learning. You need to apply the principles of lean startup and agile methodologies to your process and strategies. You got to apply a host of different strategies then look at the data to see where your leads are coming from and double down on what’s working. Spend time figuring out what platforms and marketing outbound tools are available to you as a startup that may not be available to your competitors and use that to your advantage.
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