Waze has officially launched Waze Local, which finally enables small businesses to advertise themselves to Waze users on the road. Waze has offered the ad program to larger brands for years and has been testing its small business ad program since 2016. Waze's ad program allows companies to display a branded pin to consumers as they drive by their business location. Waze's beta test demonstrated an average increase in navigations to advertising locations of 20 percent.
Waze's branded pin ad platform will charge businesses on a CPM (cost per thousand impressions) format. Matt Phillips, Waze Local Team Leader, has stated that businesses could pay as low as $2 a day for a basic campaign. On top of its branded pin format, Waze Local offers businesses the opportunity to promote themselves on customer search results as well as display large banner that appears on drivers' screens only if they are currently stopped.
Waze is owned by Google, and although it shares some of its traffic data and other anonymized data with it's owner, for the time being the focus of Waze Local is to be a platform for small to medium businesses on the Waze platform.
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