Geofencing Marketing: Learning How to Market Your Business
What is Geofencing Marketing?
Geofencing marketing is an online marketing technique that employs algorithm-based software to only display ads to a specific location. Say you are a small brand that only sells locally. FrescoData’s and geofencing services will send ads for your products or services to potential customers in your desired geographical location. To maximize performance, specifying a target demographic can also be employed. For instance, potential customers that fit a certain profile such as gender, age, income range, or any other custom demographics.
How Does Geofencing Marketing Work?
Geofencing uses an algorithm (classified under the broader name of data-driven marketing) that triangulates their location, derived from their online activities, and stores all possible information about them – such as their age, profession, income, interests, and even their assets’ value. If you can think of a demographic, we can come up with stats for it. FrescoData’s services accomplish these feats by our multiple partners, which include the governments of over 185 countries, assuring not only that the values of the algorithm are correct, but also bulletproofing you from schemers, scammers, and just any kind of people who might want to damage your brand or your profits.
Our algorithm can also target the entire population of a specific area, making sure as many people as possible are becoming aware of your brand’s existence. Once you’ve defined your target audience, all it takes to begin the campaign is commanding the software to show ads to all those particular people. This is done by displaying ads in whichever ad-reserved spaces are found in the websites/search engines they use. It can also be accomplished by targeted email campaigns: sending out marketing emails to every person in your target audience. Whichever is your brand’s need, we at FrescoData work to meet it.
Benefits of Geofencing Marketing
Increased Shopper Loyalty
Sometimes, people just don’t want to do everything online. Their reasons vary; some lack technological ability. Others fear being sold a product different from the one bought and having a hard time either sending it back or receiving their money. Some people simply prefer the human interaction involved with in-person shopping. So, when you target a specific region around your brand’s local headquarters, you can be sure that customers that prefer to buy local will also be given that option. They can simply take a cab to the local store and make their purchases out there. The same goes for when something goes wrong: customers can order a refund or ask for a product replacement in your local store. When all is sorted out, customers will be talking about how great and proactive your brand is.
Optimize Data and Analytics
Software applications are near perfect these days. They often work to repair their problems, think up new solutions, and are extremely intuitive to the user – that is, you and your marketing team. These devices practically work by themselves and only show you their findings; this way, it’s easy to improve the data you already have and make it more trustworthy. To see if your target audience is responding to the kind of marketing employed, an entirely different audience is interested in your brand, amidst much more specific data. Analytics will work the same way: if there’s a particular ad your public is responding better to, it’ll let you know. That allows adjustments to be made to the entire marketing campaign while it’s running. If customers aren’t responding well or not responding at all, our algorithm will find possible reasons for it and suggest changes to your marketing campaign.
Improve User Engagement
When opting for geofencing marketing, what you’re essentially doing is funneling your clientele – a refined, more specific target audience leads to more customers interacting with your brand. This may be shown by displaying their newly acquired product on their social networks or purchasing your newest products or just telling their friends or neighbors about how much your brand is THE brand. Geofencing also allows you to see which ads (or kind of ad) your clients are more responsive to by providing all the analytics behind engagements done with your brand.
Cheap and Effective
Geofencing marketing also tends to be cheaper. As much as 53% of users (according to QuickBooks research) have said to receive a special offer or discount through geofencing alerts. This makes it one of the most cost-effective marketing techniques employed within the market today. Geofencing costs between $4 and $14 per thousand impressions (that is, the number of views or engagements of your ads). The price is variable due to its cost depending on how many impressions you’re seeking, which means: the rule is, the more impressions purchased in a single take, the cheaper the cost of the thousand. However, even if you can only sell a single $50 product for every thousand impressions, and the cost of these is $14, you’re still profiting $36 for it. Cost-effective, with the potential to generate thousands of sales a click away.
Targeted High-Quality Content
Geofencing, on its own, isn’t operating miracles. You need to keep all the content that reaches your target audience engaging and well-written to generate engagement (clicks that result in complete purchases) and keep your brand on top of your segment. You’re still going to need a marketer to constantly provide your brand’s many social assets (your website, social networks, targeted email campaigns, targeted Direct Mail campaigns, retargeting, rebranding, a combination of all, or even other methods) with new, quality content. This will keep your brand fresh, remembered, and profiting. Marketers act as the engine that keeps all algorithms and software going, and that’s why you don’t want to shy away when hiring the best ones.`
Strategies for Geofencing Marketing
Make Your GeofenceThe Right Size
Even if you do happen to have a national brand, it’s highly unlikely geofencing a huge area of land will do you any good. An entire country is a hard place to geofence, not to mention it may also hold several VPN (an acronym for Virtual Private Network, accessing the Internet anonymously or leaving behind very little of your online footsteps) services, which will, erroneously, mistake such users for people who live in the country. This results in a loss of profits and an unnecessary margin of error in the algorithm. Geofencing is better done when targeting populations of a small area, or of very specific demographics. Whichever is your brand’s need, FrescoData will work to meet it.
Research Your Target Audience
No company is ever going anywhere if they don’t know who their clientele is. You need to be in constant touch with your audience, figure out what they like, what they need, what they want, and even what they desire. This can be particularly useful to better product development, with the great feature of putting you ahead of all rival companies. You’ll be able to create products to meet your clients’ needs and wants – even if they aren’t available in the market yet. And this, you guessed, can also be obtained through FrescoData’s algorithms. They gather all useful information about your target audience, from emails and identifying info to which kind of products they wish existed but not yet do. There’s no such thing as knowing your clients too much – the better you know them, the best you can work to meet their expectations and earn a place in their hearts, minds, and monthly budgets.
Create High-Quality Content
Companies demand highly professional marketers because they possess the needed creative skills for brand growth. The sales business is more competitive every day, so you want to be ahead of your competitors and have the best content fueling your brand’s online activities. Creative ads also happen to sell more, not only because they lure people into purchasing a product, but because they often make it into the news and boost brands (or even service providers) into stardom. This always leads to an increase in profit, and from different sources. FrescoData counts on a team of expert marketers that work to meet the highest quality standards to make sure your brand is on top.
Use All Your Targeting Techniques
Geofencing doesn’t work by itself. It needs to be aligned with all other marketing techniques. Whether those are retargeting, data-driven marketing, rebranding, SEO, Direct Mail, or, preferably, a combination of just every marketing technique available in the market right now. The key to good results lies in not putting all your time and energy into a single sales technique, but instead employing several of them at the same time to impress both clients and rivals, live on the minds of several potential buyers, and maximize your profits. FrescoData offers a vast array of data-driven marketing services that essentially work to make sure your brand is growing as much as it possibly can – with the best cost efficiency in the market.
Who Uses Geofencing Marketing?
Just about every company of every size, local or multinational, like Starbucks, Dunkin’ Donuts, and the transportation giant Uber. However, geofencing marketing needs to be done right – if it isn’t aligned with other technologies, marketing techniques, and especially creativity, it is hardly ending in good results. That’s why a vast array of professionals is needed as aides in your marketing campaign. FrescoData employs some of the best experts in the market, which will help your campaign from start to finish. We also cover all brand needs and specificities, meaning all needed services will be tailored down to suit you.
Want to Learn How to Start a Geofencing Marketing Strategy?
Whatever needs you may have with your marketing, FrescoData has got you covered. We pride ourselves on our vast team of experts and associates, which are the best in what they do. We can also sort out all your doubts before you opt for geofencing marketing techniques. FrescoData also possesses the ISO 27001 award for data security, one of the many recognitions of our leadership in our sector: growing your business. This assures our safeguarding of you, your brand’s, and your customers’ data. Whichever are yours and your brand’s needs, FrescoData will have your back.