Geofencing is quickly becoming the new paradigm of mobile advertising. The main gist of geofencing marketing is using GPS to define a geographic area and market products and services to customers in that area.
Geofencing is a powerful new marketing application that allows for more precise and targeted advertising. There are a lot of good reasons why companies should adopt a geofencing methodology toward marketing. Here are just a few ways geofencing marketing can help a growing business.
5 Ways Geofencing Can Help Small Businesses
1. More Efficient Campaigns
Every business has a limited amount to spend on marketing. Why risk spending that money if you are unsure if those marketing efforts will be seen by the correct people? Geofencing allows you to precisely manage your advertising campaign so you can more efficiently use your marketing resources. Geofencing applications are powerful and precise enough to create regions in a single building so they are powerful tools for targeted advertising.
2. Better Ad Reach
Building on the last point, geofencing is a way to make sure ads are going exactly to the target demographic. For instance, a personal injury firm might take out geofencing ads near hospitals or urgent care clinics to build awareness.
3. Better Analytics
Geofencing also gives you access to invaluable real-time analytics data so you can better adjust your marketing strategies to meet goals. Metrics collected include where customers go, how long they stay, and what kinds of products they are likely to buy. Analyzing these patterns allows companies to create a more personalized and unique customer experience.
4. Mobile Advertising is a Necessity
A competent mobile marketing campaign is a must-have in today’s economy. Given that nearly 40% of online transactions are performed via a mobile device and that mobile advertising accounts for nearly 72% of digital ad spending in the US, you will be behind the curve without a strong mobile presence. Geofencing is a marketing strategy made especially for the mobile ad market. Geofencing takes advantage of the GPS capabilities of modern mobile devices and lets you send personalized, targeted mobile ads to users’ smartphones.
5. Better Customer Connection
Regardless of the size of the business, customer relations are important. There are a lot of online stores out there and you need a way to carve out a niche for yourself. Geofencing marketing helps you cultivate a strong local following which forms the backbone of your company. Geofencing lets you get in touch with individual customer preferences so they will be more likely to buy your products.
Geofencing marketing is quickly becoming the go-to marketing strategy for online businesses. Geofencing marketing could be the key to building effective marketing campaigns that have a high ROI. Taking advantage of this marketing paradigm shift is a smart move for growing companies.