The evolution of the listings business from basic name and address information to one that is a prime generator of leads, targeting and business intelligence is something we’ve watched closely over the past several years. The big listings companies – InfoGroup, Acxiom, Neustar’s Localeze and Factual — have all repositioned themselves for the mobile era, enabling brands and retailers to act on social media activity and location data.
With all the new features added in, however, they don’t have the business to themselves. Yext, Brandify (formerly Where2GetIt), Placeable and Rio have all sought to carve out their own niches in what we used to call “localization.” Another player is SIM Partners, a 75 person SaaS player that has evolved from its roots as a digital agency. The company has just reinforced its efforts via its acquisition of Sycara Local, which helps companies highlight data strategies for local search.
Last week, I had a wide ranging discussion about these macro trends with SIM CEO Jon Schepke, CMO Tari Haro and VP of Product Gib Olander. In their view, listings still anchor everything for the industry. But with mobile exploding and “Near Me” searches doubling in the last year alone, the SIM execs think it is all about scaling and enhancing that data ad content. Successful companies in the space will focus on supporting what SIM believes are the three Cs of listings: “Configuration,” “Compliance” and “Conversion.”
To get there, SIM has launched Velocity, a local marketing automation platform, which includes location data management, publishing, data analytics and other data amplifiers. SIM reports that brands that increased their “listing health” score by 20 percent saw traffic to their location pages increase up to 450 percent and on-page action conversion rates increase by 216 percent.
What’s next for 2016? For many proximity marketing players, the focus will be on implementing wireless beacons. These recognize users and analyze their behavior at specific stores. But SIM is putting its weight more broadly behind a mobile wallet solution. Arguing that beacons will have limited capabilities and deployment, SIM hopes to close the loop for its retailers and brands with the wallet.
Wallets can store and redeeem location-sensitive promotions, in addition to providing consumers with one stop access to reviews and other social media. In tests conducted earlier this year, 30 percent of consumers clicked on promotions and saved them to their wallets.
Prior versions of wallets (Apple Passbook, Google Wallet etc.) haven’t been well used by retailers or consumers, beyond boarding passes. But with so much emphasis on using mobile tools, SIM is convinced there will be a near-term break-through.