Location Based Advertising Projected to Be $2.8 Billion Market by 2015
JERSEY CITY, NJ -- (Marketwired) -- 06/20/13 -- Single Touch Systems, Inc. (OTCBB: SITO), a technology based mobile media solutions provider, announced today it has launched FollowMe, a location based mobile ad service focused on customer acquisition. FollowMe enables advertisers to deliver targeted ads to the smartphones of people within close proximity of a specific location. A broad range of advertisers can benefit from FollowMe's location based targeting including retailers, consumer product manufacturers, entertainment venues, and restaurants.
Single Touch currently provides mobile messaging solutions to customers including some of the world's largest retailers and e-tailers. FollowMe expands Single Touch's mobile offerings and represents a new revenue stream from its existing and potential customers.
"We have consistently grown our operating business revenues by providing our clients with a mobile strategy for customer retention. This has included sending mobile messages to retailers' current customers to alert them when orders are ready. What we've been hearing from clients is that they also seek a mobile strategy for customer acquisition. FollowMe, which geo-targets customers based on their location, is a very effective tool for customer acquisition," stated Single Touch President and CEO James Orsini.
FollowMe enables advertisers to create a virtual zone, or geo-fence, within close proximity of any given GPS coordinates where a product or service is offered. The FollowMe platform detects whenever a networked device passes into the geo-fenced zone. It then delivers ads that correspond with the advertiser's campaign directly to the potential customer's mobile apps running on their device.
According to market research firm, BIA/Kelsey, the local portion of mobile ad spending will grow to $2.8 billion by 2015 and account for 70% of all mobile ads. Single Touch will generate revenue based on the number of ad impressions delivered.
By partnering with TheMobileAudience, a mobile demand side platform (DSP) that enables programmatic buying of mobile media across multiple real-time bidding (RTB) networks, Single Touch's FollowMe ads can reach 87% of the U.S. mobile market and deliver ads across all content categories within both the Android and iTunes App stores.
Mobile ad inventory will be purchased to maximize a customer's ROI through RTB. While RTB has been effectively used to deliver the right ad to the right consumer on desktop devices, industry analysts see RTB as potentially an even more powerful tool on mobile devices due to the customers' proximity to the advertiser.
"By integrating this capability into our existing mobile offering, we continue to execute on our goal of becoming the mobile media solutions partner of choice for top global brands," added Jerry Hug, EVP of Corporate Development for Single Touch.
About Single Touch Systems, Inc.
Single Touch Systems, Inc. is a technology based mobile solutions provider serving businesses, advertisers and brands. Through patented technologies and a modular, adaptable platform, Single Touch's multi-channel messaging gateway enables marketers to reach consumers on all types of connected devices, with information that engages interest, drives transactions and strengthens relationships and loyalty. For more information about Single Touch Systems, Inc. visit: www.singletouch.net.
About TheMobileAudience, Inc
TheMobileAudience, Inc. is a New York City based mobile technology company built and owned by a team focused on mobile since 2008. The company's core offering is a proprietary mobile demand side platform (DSP) connected to over 34,000 native applications on iOS and Android devices, which enables a targeted marketing message to be delivered inside applications based on age, gender, and location-based criteria. For more information about TheMobileAudience, Inc. visit: www.themobileaudience.com
This news release may contain forward-looking statements that involve risks and uncertainties and reflect Single Touch's judgment as of the date of this release. These statements may include those regarding strategy, growth and future operations. Actual events or results may differ from Single Touch's expectations. The risks and uncertainties include reliance on brand owners and wireless carriers, the possible need for additional capital, as well as other risks identified in Single Touch's filings with the SEC. Single Touch disclaims any intent or obligation to update these forward-looking statements beyond the date of this press release, except as may be required by law.
Investor and Media Contact:
Hampton Growth IR
Source: Single Touch Systems