TeleNav (NSDQ: TNAV) has revealed today that it has been in the advertising business for the past year, and is integrating location-based ads into its turn-by-turn navigation software used by millions of wireless subscribers. The platform promotes restaurants and other destinations and services while users are looking for immediate suggestions in the car. So far, the results are impressive.
TeleNav reports that 24 percent of people who click on an ad actually drive to the location, and that click-thru rates stand at 3.8 percent, which is typically above average. This makes a lot of sense. In TeleNav’s own research, it finds that its users view more than 40 million mobile search pages a month, and that they occur when users are at a high point of need — 84 percent of users are in their car when using TeleNav