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New shopping apps combining mobile local search with smart phone geolocation technology are creating a link between brands and shoppers that marketers have been waiting for.
Scott Dunlap, CEO of NearbyNow, will present retail-based iPhone applications developed in partnership with major magazine titles from Hearst, CondeNast and other top-tier publishers. Based on NearbyNow’s iPhone platform, these search apps allow consumers to view featured products in an editorial context, then shop online to find these items locally in nearby stores.
Once shoppers have compared price and availability and selected their item, it is placed on hold to be picked up at a convenient retail location. The service can then deliver “on the way” ads based on a customer’s current location, and time-based coupons to motivate purchases. These apps are doing something no other mobile shopping app has done until now: they complete the triangle between media, advertisers and consumers in a way not possible before. And by tracking customer actions through the buying cycle from search to purchase, they enhance marketers’ knowledge of customer behavior in a powerfully concrete way.
The first apps are demonstrating advertising click-through rates of between 15 and 25 percent, and conversion rates of nearly 10 percent – both significantly higher than industry averages for mobile applications.
Two of the apps Scott will present are wildly popular with iPhone users, and have been featured in the Apple iTunes App Store in the “New and Noteworthy” section, and as “Staff Picks.”
Chairman of the Board, Founder & CEO As CEO of NearbyNow, Inc., Scott brings over 15 years of experience in developing new Internet technologies to strengthen retailer connections with customers. At E.piphany, Inc., his product management team developed data mining and marketing technology to help retailers such as Charles Schwab, Microsoft, and Godiva better target and grow their customers. Later he joined the founding team of Loudcloud (now Opsware: OPSW) to operate and manage some of the largest e-commerce sites in the world for companies like Nike, Fannie Mae, Univision, and USA Today. At Avolent, he helped develop e-billing software to streamline customer interactions for companies such as Dell, Office Depot, and Xerox. He also founded 4charity.com (sold to Innovaware) to develop technology to assist non-profit companies in online fundraising. Scott is on the Board of Advisors for Reactrix and Coverity. Scott holds a B.S. from the University of Oregon, and an M.B.A. from Stanford University.