23 location-based terms every marketing agency and business should know

August 5, 2010

Recently a few reports stated despite the popularity among tech evangelist many individuals were unaware of location based applications such as @TriOut, @Foursquare, @brightkite, @whrrl, @gowalla and more. The reports also stated due to the limited amount of awareness but still having millions of users there was little value in using various location-based applications in marketing campaigns. Some have also stated that location-based apps won’t become as popular as social networks such as Twitter and Facebook unless more businesses start offering more check-in specials/coupons to their customers. Sadly, I believe that is half-way true. But even if that’s the case how will more businesses learn about location-based apps and learn how to implement a location-based marketing strategy? For some it will be in the from of their marketing agency, for others blogs, consultants, coworkers and/or their customers. Regardless eduction will be one of the biggest needs for location-based marketing to take off.  With that being said here are 23 location-based terms every marketing agency and business should know.

  1. GPS – Global Positioning System
  2. Latitude and Longitude
  3. Leaderboard
  4. LBA – Location Based Applications
  5. LBA – Location Based Advertising
  6. LBS – Location Based Services
  7. LBG – Location Based Games
  8. SMS – Short Message Service
  9. SMS – Social Mapping Service
  10. Geo-social gaming services
  11. PCP – (post check-in page) via @schneidermike
  12. PCE – (post check-in experinces) via @schneidermike
  13. Coupons / Specials / Points  / Badges = Rewards
  14. Key Holders / Mayors / Dukes  – Titles for customers who visit a location the most in TriOut, Foursquare and Yelp.
  15. Check-in – The action of using a location-based app and letting the service/business/friends know you have arrived at a location.
  16. Societies – Groups inside of @Whrrl that could be connected to rewards/brands.
  17. Geo Marketing – Geomarketing is the integration of Geographical intelligence into all marketing aspects including sales and distribution.
  18. RFID – Radio-frequency identification (RFID) is the use of an object (typically referred to as an RFID tag) applied to or incorporated into a product, animal, or person for the purpose of identification and tracking using radio waves
  19. Barcode –  A barcode is an optical machine-readable representation of data, which shows certain data on certain products.
  20. Virtual Currency – Virtual currency (or in-game currency depending on environment) is used to purchase virtual goods within a variety of online communities; which include social networking websites, virtual worlds and online gaming sites
  21. AR – Augmented Reality Augmented reality (AR) is a term for a live direct or indirect view of a physical real-world environment whose elements are augmented by virtual computer-generated imagery.
  22. Geo Fence – A Geofence is a virtual perimeter on a geographic area using a location-based service
  23. QR Codes – A QR Code is a matrix code (or two-dimensional bar code) created by Japanese corporation Denso-Wave in 1994. The “QR” is derived from “Quick Response”, as the creator intended the code to allow its contents to be decoded at high speed.

Update: Andrew Mager @mager tweeted the following terms that marketers should know too.

@momentfeed @waynesutton @phil_hendrix Don’t forget antipode, geo-spatial query, cartography, z-curve, mercator, point, way, and polygon.Thu Aug 05 19:00:00 via Tweetie for Mac

Sources: en.wikipedia.org, google & wayne’s brain.

What do you think will be the driving force for more businesses to use location-based services?

Wayne Sutton

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Wayne Sutton is a serial entrepreneur and general partner at BUILDUP.vc. Wayne has over 14 years experience in technology, design and business development. Wayne was recently recognized as one of the Silicon Valley 100 coolest people in tech, one of the 52 hottest new stars in Silicon Valley, one of the 46 Most Important African-Americans In Technology by Business Insider and one of the Top 100 most influential black people on social media in 2014.