Is your current marketing method becoming inefficient? It is time you turn to a different advertising approach. One advertising method that has caught the attention of marketers is Geofencing advertising.
This post covers the essentials you need to know to deploy geofencing advertising effectively. Let’s jump right in!
What is Geofencing Advertising?
Geofencing advertising is an emerging mobile marketing tactic that gives companies the ability to advertise to target customers within a specific geographic radius. Also known as geofencing marketing, the technique applies a virtual boundary around the targeted location.
The advertising technique is popular in GPS and Radio Frequency Identification (RFID) and relies on physical location information to trigger the SMS. Therefore, an alert is sent whenever a person enters the targeted boundaries.
Geofencing advertising, marketers can push targeted adverts to mobile phones within a particular region. For example, a retailer can send reminders to pick up groceries to people leaving the shopping center.
Geofencing advertising is hyper-targeted, location-based marketing and will be the next big thing in the digital marketing world. In that regard, this is the best time for your business to deploy the technique.
Here are important reasons to consider geofencing.
1. Enhance Local Sales
Geofencing advertising is a practical approach for enhancing your local sales within the target region. Therefore, the process is useful for businesses looking to improve local performance. With the location-based targeting method, you can maximize sales within the local area.
2. Practical Analytics and Metric analysis Tool
Geo-fencing advertising provides a practical approach for surveying your target customers. Consider that if your customers are coming in with promotions from geofencing, you can monitor how long they stay in your store and how often they come back. All this is valuable information highly sought by marketers to improve their targeting techniques.
3. Provides Better Personalized Marketing
A popular benefit of geofencing advertising is how it allows marketers to collect relevant customer’s data. Therefore, you understand the local population’s demographics, including what streets they like spending time within, access to their spending habit, and the products they prefer.
4. Better Accuracy
With geofencing marketing, the advertisers can feel confident when targeting a location. Therefore, there is minimal waste of resources, as you are targeting a high-value audience.
5. Higher ROI
With geofencing assures you that the message gets to a relevant audience. Besides, you get analytics that helps you to improve your campaigns. Eventually, it is easier to convert more audience into potential customers.
What are the costs of Geofencing Advertising?
Geofencing advertising applies Cost per Mille and Cost per Visit. The pricing ranges depend on a wide array of factors. However, the more localized or narrower the targeting is, the higher the cost.
Geofencing advertising is the next big in-hand advertising option available to marketers today. The method allows marketers to target high-quality buyers at the advanced stages of making the purchase decision. However, for the best results, talk to an experienced marketing expert to help you deploy geofencing marketing approaches.