The industry is as cut-throat as it could. In such times, businesses need to employ all the right marketing and advertising tools to help increase their visibility and exposure levels.
This is where OOH or Out-Of-Home marketing comes into play. According to statistics, the spending for OOH surpassed around $6.9 billion in the US alone. One OOH marketing tool that offers tech efficiency is Waze advertising.
What is Waze?
A community-based travel and routing software, Waze utilizes the phone’s geolocation to help you find your way. It also gives the user real-time information on road conditions to prevent getting stuck in traffic because of an incident or a maintenance zone.
Users have an option to see how long it takes to get where they’re going from various angles using the map view. While driving, users may use the voice assistant function to inquire for instructions from other motorists.
If they can’t locate somebody nearby who can direct them, they may use Waze to identify the optimal strategy other people have reported about through their travels.
Simply said, the Wazers, the app’s users, are what give it its power. When driving, these users actively and passively communicate traffic updates with the application, warning other users of crashes, security checkpoints, and so on.
The great thing about this app is that it is continually evolving and launching major updates, such as the inclusion of music players and car-sharing alternatives. However, there is no doubt that the app’s biggest selling point is its real-time navigation.
The hype around Waze advertising
Out-of-Home Marketing (OOH Marketing) is one of the speediest and most highly popular marketing categories today, and Waze is leading the charge. In this fast-paced world, businesses gradually realize that Waze advertising can help them reach millions. How so?
As of the data from 2021, Waze has a total of 140 million monthly active users and is spanned around 185 different countries. With such a huge reach and millions of users active every month, it is one of the smartest ways for businesses to reach out to their target audience.
A total of $1.3 billion was spent on the company in 2013 as Google purchased it, and it keeps growing as a map app because of its user-generated material and traffic updates.
Advertisers can now use local ads to specifically target app users through Waze advertising, a groundbreaking new approach. With an average user spending 438 minutes online on Waze, the application’s engagement level is also high.
Understanding Waze advertising
In 2018, Waze launched Waze Local, an advertising platform for local companies. Well over 7 million local business navigations have been attributed to Waze Local advertisements since their launch. Anyone may begin advertising on Waze for as low as $2 per day per their website.
Spending to get your product or service highlighted on the Waze platform is a simple way to describe it. You may advertise on Waze in various ways, including via branded pins, promoted searches, and zero-speed takeovers. More on that later.
If you want to advertise on Waze, you must pay a minimum expenditure depending on the exact stock that Waze provides for your company, area, and target range. An official Waze partnership agency or an official Waze representative will be involved in calculating the initial capital for a campaign.
Waze advertising: ad formats. Source: medium.com
Type of Waze ad formats
Thanks to the many social media and digital advertising platforms, we have learned today that there is never one way to go about it. Instead, users and businesses get the option to advertise their ads on the same platform in different formats.
The same is the case with Waze advertising. When you’re putting up an ad on Waze, you can pick from one of the different Waze ad formats available on the app.
Pins, zero-speed takeover, and promoted search are the options. You can use either all at once or a combination of both. Additionally, you have the option to employ a variety of formats to promote specific projects.
1. Branded pins
Think of the Branded Pins ad format as the ultimate digital billboard. A pin with your symbol will be shown on the map when a user’s path passes through or near your store.
The advertisement at the very top of the page will be shown if you tap on the pin. Businesses may add further details about the shop, such as its location, hours of operation, contact information, and any current specials, to this section. Interested parties may click on the “Drive there” option to be rerouted to your area if they so want.
Branded Pin Ads only cost $2 per 1,000 impressions, making them an affordable marketing tool (CPM). There are no banners or calls to action, so it’s more of an awareness campaign.
2. Promoted search
We have all been through when we would try to look up the nearest bakery or cafe when out with friends or family. In such times, how efficient would it be if your business would come up with a suitable venue? That is exactly the purpose that promoted search serves.
When somebody searches for a company like yours in your designated search region, your location and business are pushed to the top of the results. This is a great method to increase your digital and retail store traffic.
Promoted search may be used for many actions, from showcasing the Brand Name to more. Users can also do the following for your business: Save for Later, Save Offers, Drive Here, Change Voice, Remind Me, and Download App. Branded Pins come with the option of adding Promoted Search as an extra benefit. However, there is no payment required for search impressions.
3. Zero-speed takeover
How cool would it be if you could show an ad to your audience through a billboard each time they are stopped at a traffic signal? However, financially speaking, that just isn’t possible.
Fortunately, with Waze advertising, businesses can promote their brand through these digital billboards.
A marketing ad flashes at the top right of the screen while the driver is stopped in traffic or parked; this may be shown in certain locations. These billboard-style ads will take up around 1/5th of the user’s screen in this format. CTA (Call to Action) will appear at the base of the ad to enable visitors to store the deal for future reference.
Below the banner, there is also an info button that, like the other advertising, provides further details about your company. The actions of Save for Later, Save Offers, Drive There, Remind Me, Change Voice, and Download Apps are also included here, just as in Promoted Searches.
Arrow ads are quite similar to branded pins. Like pins, arrows also appear on the navigation map of the Waze application. However, what sets the two apart is that arrows can be seen as you begin your journey.
If you’d like to remind your customers to drop by your store each time they begin their journey, this is the way to go
When customers open the Waze application, they see arrows that serve as a marker indicating your company is close. Whenever a user taps the arrow, their map is shifted to the nearest Pin on the screen.
If you want to let consumers know that you’re nearby but not on their current path, utilize the Nearby Arrow ad type. This serves as a digital flag for your company, attracting more attention and directing more people to your website.
How to begin Waze advertising
The basics of starting up are really simple. The process is initiated by using a Gmail account, using it, and registering on Waze by filling in the company details, choosing a business category and limit for the Waze advertising, and entering your billing information. And that’s it.
The payment process on Waze advertising will be similar to anybody who has worked in internet advertising in any capacity. You only pay for the number of monthly views (CPMs) on pin, takeover, and arrow advertisements when you reach your daily budget limit determined by their system.
No impact or other interaction charges are applied to search advertising. Ad views and other ad interactions, including clicks, calls, and navigation, are not charged to the user either.
A slew of key metrics is accessible to customers after everything is set up. Views, clicks, expenditure, and info button clicks are basic, but there are also more unique metrics like a navigation system, which are when someone orders Waze to “go there” or “drive” to an advertisement of the brand on the map that they have placed.
Another indicator is the number of times an ad resulted in a phone call or a visitor to the website.
Targeting and monitoring on Waze
It is possible to choose a specific geographic area and period for advertising. Once it comes to location, this is dependent on where your stores are located.
The audience targets truly focus on the motorist and their unique characteristics, such as their language settings, where they usually drive, and job and residence addresses. The path (or the drive) is more important than the driver in the real-time target. You may, for instance, concentrate on where they’re going or the climate.
No smart digital marketing campaign is complete with proper analysis and monitoring of the efforts. Waze advertising offers that as well. After signing up for Waze advertising, marketers will have access to a dashboard to monitor your progress.
Known to turn leads into conversions, Waze advertising has been adopted on a huge scale by local businesses and big brands. With a user-friendly site, different pricing plans, and a wide range of ad formats, Waze offers it all.