Loopt, the mobile phone based friend finder service, is preparing to launch a new location based mobile advertising system that will be able to target consumers based on where they are.
The Reward Alerts technology uses tracking features in modern mobiles to locate users and Loopt then sends advertisements and coupons for nearby businesses. Customers using the Loopt app on their apple or android device will be instantly notified of any deals or sales in their area.
To receive alerts, customers simply have to download the application to their phone. Then, when they find an offer they like, users can present that offer with its unique code at the appropriate business.
“Reward Alerts represent one more step in a direction we see as really important for location-based services – making mobile more simple and real-time,” said Sam Altman, co-founder and chief executive of Loopt.
“With Loopt, we can alert people to what’s going on around them right now, which opens up tremendous opportunities for consumers to learn about a great deal. It’s a win-win for businesses and consumers.”
The service is already live for local businesses but Loopt plans to start working with national brands from March 11. Companies like Microsoft and Southwest Airlines are already planning to participate. US phone company, AT&T is offering a similar service to Loopt, which has already attracted the attention of JetBlue.
Currently, location-based advertising is in its infancy, but it has great potential not least for travel firms looking to maximise revenues from their customers after they have booked their trips and while they are actualy on holiday.
The service allows companies to draw customers to their business, helps save people money and allows businesses to instantly respond to changing market conditions.