Single Touch Systems has announced that RadioShack had chosen its FollowMe location based advertising technology.
"We are excited that our mobile ad tech product will be used by RadioShack as they continue their re-branding efforts that began earlier this year," said James Orsini, president and CEO of Single Touch. "FollowMe revenue growth – the fastest growing portion of our revenue mix – is evidence that we are well positioned to capitalize on the growing mobile advertising market as marketers begin to shift more of their ad budgets toward mobile."
RadioShack will use contextual clues, behavior and location to target products to consumers who happen to be near one of the chain’s retail stores. The company has purchased over 8 million impressions over two weeks. The campaign will initially focus on 30 of the chain’s stores that have been renovated and will target both Android (News - Alert) and iOS users.
The move comes as RadioShack deals with a radically changing retail market. Customers continue to desert brick-and-mortar retail in favor of online retailers like Amazon in droves. The company is betting that it can catch the next wave of mobile commerce after having blown an opportunity to become a major online retailer.
Single Touch, for its part, is very optimistic about the future of mobile advertising, and for good reason. Spending on mobile advertisements rose from $9.6 billion last year, up 120 percent from $4.36 billion in 2012, according to eMarketer (News - Alert). Spending on mobile is expected to surpass desktop advertising by 2017 as more people shift from traditional PCs to smartphones and tablets.
"It was very encouraging to see validation from such industry findings. Over the past year, the digital marketplace has undergone a major transformative phase with mobile ad spending driving most of the growth,” Orsini said in January, commenting on the report.
Edited by Cassandra Tucker
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