TeleNav, Inc. (NASDAQ: TNAV), one of the largest global wireless location-based services providers, today announced a drive-time search and navigation mobile advertising platform developed to transform the way in which advertisers reach millions of on-the-go users. TeleNav's advertising platform fills critical gaps in the $3.8 billion(1) mobile advertising industry by delivering a relevant and targeted ad to users based on the location and context of their search query, and by providing advertisers with action-based metrics such as "Drive-to Rate," a metric that captures the number of users who viewed an ad and chose to drive to the advertiser's business location. TeleNav's large user base and location-targeted approach to mobile advertising provides advertisers with a comprehensive platform that delivers broad reach, user engagement, context and location targeting, and detailed measurement that is not possible through other advertising channels.
"With growth in data-enabled phones and mobile search, users want more actionable local content, and advertisers want to drive and measure those actions," said Michael Boland, analyst with BIA/Kelsey. "Guiding users to local businesses' front doors and measuring that action will resonate on both sides of this equation."
Broad ReachTeleNav's advertising platform delivers relevant ads to users of TeleNav and TeleNav-powered GPS navigation products. These products are available on more than 500 mobile devices running all major mobile operating systems, though not all devices currently support TeleNav's advertising platform. TeleNav's navigation services, both ad and non-ad enabled, are used by millions of unique users each month, with these users logging approximately 700 million minutes of application usage time each month.
High User EngagementUsers of TeleNav's search and mobile GPS navigation services view more than 40 million mobile search pages each month. These search views occur when users are at a high point of need; 84 percent(2) of users are in their car when using TeleNav's products to search for a place to drive. The company's advertising platform uses proprietary technology to deliver a relevant and targeted ad for nearby advertisers based on the location and context of the search query. TeleNav's advertising platform also helps users make a decision on which business to drive to by allowing advertisers to include additional content in the mobile ad, such as coupons, menus or promotional information.
"TeleNav's ad technology offers information to our guests that we are unable to deliver using other mobile ad platforms," said Chris Hein, vice president of marketing for The Dussin Group, owner and operator of The Old Spaghetti Factory, Dussini Loft Bar, Fenouil and Lucier restaurants. "TeleNav displays ads for our restaurant properties at the very moment a user is searching for food around their current location. The ability to attract a customer's attention at that very moment of need and then have TeleNav guide them to one of our restaurant locations takes our mobile advertising capabilities to a new level. We can actually see that our ads bring customers through the door."
Relevant TargetingTeleNav's advertising platform has access to more than 500,000 advertisers through an existing network of ad partners. The company's advertising partners include national restaurant, hotel and retail chains that are looking to drive customers to their store locations. TeleNav's ad serving logic allows these partners to target users at the moment in time they're conducting a mobile search for the services the advertiser provides. These ads are targeted toward users based on their location and search context, ensuring the ads they receive will be relevant to the service they're looking for and within driving distance from their location.
Action-based MetricsTeleNav's advertising platform addresses limitations of traditional advertising channels, such as online, print or mobile, by delivering comprehensive, action-based measurement to advertisers. The platform measures traditional ad metrics such as impressions, click thru rate (CTR), and calls, but also measures the number of users who map or drive to the advertiser's location after viewing an ad. This action-based measurement helps advertisers determine the effectiveness of their ad campaigns and better measure a campaign's return on investment (ROI).
"The ability to deliver locally and contextually relevant search ads to mobile users at their moment of need is extremely powerful," said Greg Sterling, senior analyst, Opus Research and founder Sterling Market Intelligence. "In addition, TeleNav's capacity to measure user activity post-click or impression, not to mention literally drive people to the point of sale, further differentiates this platform from other forms of advertising."
TeleNav does not provide advertisers with information regarding specific users, but instead measures an aggregate of calls, clicks, drive-tos and other user actions initiated by an advertiser's ad. This data shows that delivering relevant, location-targeted ads to users at their point of need has resulted in a click thru rate of 3.8 percent, which is significantly greater than traditional mobile and online display ads. Moreover, the data indicates that the conversion rate of users who drive to the business location after clicking on an ad presented in TeleNav's local search results is nearly 24 percent.
"In today's economy, it's more important than ever for businesses to drive more customers to their stores and demonstrate measurable, positive ROI on their marketing investments," said Dariusz Paczuski, vice president of marketing for TeleNav. "TeleNav is uniquely positioned to transform the mobile, local advertising business by delivering on the promise to connect ready-to-buy customers with 'clicks to bricks' advertisers and measure the impact for advertisers."
For more information regarding TeleNav's advertising platform, visit www.telenav.com/ads (http://www.telenav.com/ads) . Advertisers or agencies interested in learning how the ad platform can fit into their mobile advertising strategy can call 1-877-NavAds1 (1-877-628-2371) or e-mail email@example.com (mailto:firstname.lastname@example.org) .
About TeleNav, Inc.TeleNav, Inc. is a leading provider of consumer location-based services (LBS), enterprise LBS and automotive LBS. TeleNav's solutions provide consumers, wireless service providers, enterprises and automakers with location-specific, real-time, personalized services such as GPS navigation, local search, mobile advertising, mobile commerce, location tracking and workflow automation. TeleNav's technology is available across more than 500 types of mobile phones, all major mobile phone operating systems and a broad range of wireless network protocols. TeleNav's service providers and partners include AT&T, Bell Mobility, Boost Mobile, China Mobile, Cincinnati Bell, Ford Motor Company, NII Holdings, Rogers, Sprint Nextel, Telcel, T-Mobile UK, T-Mobile USA, U.S. Cellular, Verizon Wireless and Vivo Brazil.
For more information on TeleNav, please visit www.telenav.com (http://www.telenav.com) . Follow TeleNav on Twitter at www.twitter.com/telenav (http://www.twitter.com/telenav) or on Facebook at www.facebook.com/telenav (http://www.facebook.com/telenav) .
Copyright 2010 TeleNav, Inc. All Rights Reserved.
"TeleNav," the TeleNav logo, and "telenav.com" are registered and unregistered trademarks and/or service marks of TeleNav, Inc. Unless otherwise noted, all other trademarks, service marks, and logos used in this press release are the trademarks, service marks or logos of their respective owners.
(1) J.P. Morgan N. America, June 2010 (2) TeleNav User Data