Bill Gross, CEO of UberMedia, is looking to launch a new mobile advertising platform called UberAds that will utilise social signals and location data for ad targeting.
According to a report by Pandodaily, UberAds has been working to reduce the gap between the time spent on mobile devices, which is 10 percent of all browsing time with the amount of digital advertising dollars being allocated, standing at one percent. While these numbers have grown to 15 percent and 1.5 percent respectively, according to Gross, the gap needs to lessen further.
While testing, it was seen that UberAds was able to achieve a 5.7 percent click-through-rate (CTR) for an entertainment TV channel launching a sitcom. They did this by targeting fans of comedy and celebrity gossip sector and those interested in reality TV.
UberAds targets you through your social and location data (image credit: Pandodaily)
The advertising platform was also able to achieve a 4.1 percent CTR for a sportswear brand launching a new athletic shoe designed by a star basketball player by targeting consumers in Manhattan and presenting a dynamic countdown of the number of steps to the nearest retailer carrying the shoes. When you compare the numbers, these rates are roughly 4.7 to 6.5 times greater than the standard mobile display CTRs found presently.
To do this, UberAds uses public social media data from all platforms like Twitter, Instagram and others to derive intent. UberAds also focuses on time optimisation. Right now advertisers either run ads as quickly as possible, or space them out through the day. UberAds has an advantage here, as it allows ads to be targeted to the minute.
The one danger that UberAds face is upsetting the privacy conscious consumers, despite not giving out any personally identifiable information. Users can start feeling that their phones and brand advertisers are now spying on them, and UberMedia will have to be very careful in the early phases of rolling out UberAds.
UberMedia has now made the platform open to the public, and currently has partnerships with 10 mobile ad publishers with a potential reach of 55 million Americans. According to Gross, this number will increase to 250 million across 100 publishers by year’s end.