Description

In this podcast episode, Mari-Liis Vaher from Powerful Marketers interviews Wayne Reuvers, an expert in multi-location digital marketing. Wayne emphasizes the importance of localized digital presence. He highlights the significance of personalized marketing for each specific location, as most people spend their disposable income within 15 miles of where they live and work. By incorporating city names into ads and buying media locally, businesses can increase response rates and lower costs. Overall, Wayne provides practical tips and insights for businesses looking to establish localized digital presence.

Wayne is the Founder and Chief Strategy Officer of LiveTechnology Holdings and LiveRetail. He has successfully invested in and built multiple subsidiaries and successfully exited 6 businesses having created over $110 million in wealth for the investors.

Quotes:

• “About 85% of a consumer's disposable income will be spent within 15 miles." (00:02:54)
• "We traditionally just see an ad that just talks about the product and has a headline and that's it. By adding the name of that city, the response rate will go up by a minimum of 30 to 40 per cent and typically four to five times.” (00:03:36)
• “Whether you're apparel companies like Nike and Unilever, Procter & Gamble, you're all bidding against each other. So you're paying for a premium. On the other hand, when you buy that same set of criteria - so someone is interested in a product within the age range, income level, et cetera, but within six or seven kilometres or 10 or 12 miles around an area, you have no competitive bidding against you for those criteria. So the cost of your media is typically 60 per cent less.” (00:04:46)
• “As a local business, the most important thing you have, and we always hear it, is location, location, location. And the reality is you need to make sure you market that location. So every ad you run has to include the name of a city or town because people that recognize that will respond and be engaged much higher.” (00:07:17)
• “When you buy your advertising, you need to hyper-target it. And in digital, the more targeting elements you have, the better it is because you reduce your cost because you remove competition." (00:07:38)
• “The reason you want those carousel ads is they help with engagement. So on social media sites, you can click on an ad and go to the website or buy something, do whatever you need. You can actually interact with the ad. You can slide it across and that gets people engaged. They can like the ad, which gives you free exposure. They can share the ad, which is even more valuable because people only share ads to applicable other people that are interested in the ad.” (00:19:27)
• “Social media is at least 60 to 120 per cent more effective when you're doing localized advertising.” (00:19:59)

Timestamps:

• [00:04:43] Hyper-targeting advertising.
• [00:12:40] Pre-built ads with AI.
• [00:15:00] Reducing Cost of Ad Production.
• [00:17:59] Social Media Advertising Techniques.
• [00:24:52] Crowdfunding a Business Opportunity.

Links:

Connect with Wayne Reuvers:

• Websites: https://livetechnology.com and https://liveretail.com/
• LinkedIn: https://www.linkedin.com/in/wreuvers/