80% of Location Data in Top Mobile Ad Exchanges is Inaccurate

As reported by GPS Business News: Location-powered ad exchange Verve has published last week a new report where it brings together key findings of its location-based advertising campaigns.

According to them 80 percent of lat/long ad requests found today in major ad exchanges are rubbish and made out of lesser quality data such as Geo-IP or ZIP code in an attempt by publishers to make bigger revenue out of their - poor quality - 'inventory'.

In a comparative test campaign Verve experienced a Clock-Through-Rate of 1.04% with verified location data versus 0.23% with unverified location data.

Other key findings from the report include:

- Retail is the number one category utilizing location powered advertising. The top three types of retailers using location powered advertising are big box, consumer electronics, and department stores.

 - Geo-fencing, which includes geo-conquesting, is the number one most utilized location targeting strategy deployed by retailers. 

- Driving foot traffic to stores is the number one objective for retailers leveraging location-based mobile advertising. 

- For retailers, proximity impacts mobile ad performance, the sweet spot for ads served being between 1 and 6 miles.