Google, which always appears to be on the lookout for new revenue streams, has identified yet another income opportunity. You know Google Maps? It is an app you most likely have on your phone and a website you access when looking for a location. Now, businesses can pay Google to have their logos show up directly on its maps. These logos will be in lieu of the generic icons that are currently used.
According to Matthew Leske, a product manager on Google Maps, this feature is one of the ways that Google is trying to enhance its user experience. He said that highlighting certain businesses will make it easier for consumers to locate the information they need. Mr. Leske was quoted in a Reuters article, Google Bows Sponsored Icons on Maps, as saying, "It's easy to recognize, so I can either pay attention to or ignore it, but [either way] it's more information per pixel on the map."
The pricing of the sponsored icons is on a cost per impression (CPM) basis. You pay when your logo appears on the map. Plus, your logo is supposed to only show up if it is relevant to the user’s search.
Google is not offering sponsored icons to everyone right now. According to the search engine giant, it is only available to advertisers with a recognizable brand and multiple locations.
AdvertisingAge.com reported that once the sponsored map icon feature is expanded, “any business will be able to buy its logo on Google Maps, which sounds like it could get cluttered fast, except that Google promises that algorithms will anticipate what consumers are looking for and place logos accordingly, without letting them pile up.”
This potential opportunity is definitely one to keep your eye on.