Ever heard the saying “you can’t see the forest for the trees”? One could say this is a pertinent analogy of how the beacon landscape looks today. In fact, there are 400+ companies across the world who provide some type of beacon offering from beacon hardware to software management. All in all, it’s a classic case of ultra- fragmentation often prevalent in early stage industries before consolidation and market leaders emerge.
For advertisers, fragmentation is and always will be the proverbial enemy, so when it comes to beacons it’s really no surprise there’s been trepidation for advertisers and their agency partners to invest money in beacon related efforts. For advertisers to see value in beacons, there’s criteria which must be met before they consider using beacons as part of their toolkit;
- Beacons must deliver scale to reach a meaningful amount of people on a regular basis (ie monthly).
- The process to book, access and pay for beacon campaigns must be painless, ideally automated (ie programmatic).
- There must be near or real time analytics to measure ROI.
If we look at today’s beacon landscape, the 400+ beacon companies are primarily concerned with creating value in a way which reinforces isolation and fragmentation, through no fault of their own. A good parallel is each beacon company is like a driver with their own ride share app to book rides with no Uber bringing scale or harmony to the network of many drivers in a single place, get my drift?
Lets’ use an example; Target wants to put beacons in their stores to influence shoppers when they’re in-store. This is great for Target but for all the brands who sell products inside Target it offers little to no value and because beacons require an app on a person’s device, the only people who can be reached are people with the Target app which will be installed on a small % of the overall population.
What we’re doing at Airmarket is eliminating this isolation and fragmentation when it comes to beacons for advertisers whilst bringing new revenue opportunities to fruition for both beacon companies as well as 3rd party app developers. Just like the Uber example above, these isolated beacon networks are aggregated into a single platform which creates value for advertisers (and meets the above criteria).
Let’s use the same Target example above and highlight how Airmarket is bringing new value to an isolated beacon network. Instead of all these beacons only being used for Target, Target can register their beacons to Airmarket and allow advertisers to pay for access to their beacon network in an automated and programmatic fashion. The advertisers for example could be brands who sell products within Target stores like Mattel or Nestle.
Using Airmarket, Target can limit advertisers to a core set of approved brands they’re comfortable with accessing their beacon network. In addition, instead of relying on the Target app to be the sole enabler of reaching shoppers in-store, advertisers can leverage 3rd party apps within the Airmarket network above & beyond Target app users to increase the amount of people they can reach with their beacon campaigns.
In this scenario, Target are monetizing their existing beacon infrastructure without impacting their own efforts whilst 3rd party apps are monetizing their apps in a new and innovative way which doesn’t impact their other revenue efforts such as banner or video ads.
Imagine all the beacons currently deployed in the same way as the Target example above? That’s what exists today, a vast disconnected network Airmarket is trying to bring together to deliver new value for beacon owners, 3rd party app developers and advertisers.
The mindset for companies who own vast physical assets such as McDonalds, Subway, JCDecaux, Macy’s, Home Depot, Wholefoods, Tesco, Coles, Barnes & Noble, Starbucks and hundreds of others is not only should they be thinking about beacons as a way to increase interaction with their own brand but also think about how they can leverage beacons to create new revenue streams from 3rd party advertising using Airmarket.
Interested in learning more about Airmarket? Feel free to email email@example.com