Geofencing and Your Small Business
Geofencing is a location-based mobile service that allows businesses to send notifications to smartphone users within a specified geographical area. It is widely utilized as a marketing tool to directly engage potential customers in the area by sending promotions and information straight to the consumer’s phone.
Quick Serve Restaurants
Customers often make quick decisions on where to go, and delivering relevant messages whenever consumers enter your immediate area is a great way of attracting impulse buyers!
Retail
Retailers can take advantage of a nearby shopper to deliver targeted ads to shoppers when they are near your retail stores (or at your competitors’ stores). You can also draw a tight perimeter around your retail location to market special offers and promotions to in-store shoppers.
Real Eatate
Real estate is a perfect business for geofencing marketing. They can show ads or listing for anyone entering the geofenced zone. They can track property visitors and retarget them with ads for the same listing and similar listings in the area.
Legal
Personal injury attorneys successfully target hospitals or auto repair shops. If you are an Estate attorney, it might work well to target destinations frequented by high net-worth individuals such as art museums or country clubs.
Healthcare
When it comes to healthcare, personalized advertising can be difficult because of regulations. Geofencing marketing becomes an attractive alternative because you are focusing on geographic location rather than individuals.
Auto Dealerships
Vehicle purchases are made at a physical location. Since the target audience is located within the vicinity of the auto dealership, targeting just that geolocation is ad budget well spent.
Benefits Of Geofencing
- Accurate Targeting: When people are close to your physical location, you can virtually grab them and entice them to visit. A discount offer has a better chance to get someone to visit when they are a block away than it would if they were across town.
- Efficient Advertising: Location-based marketing improves the efficiency of your marketing efforts. Your ad spend is more efficient since the bids are on prospects who are more likely to convert.
- Increased Engagement: There is more engagement with your ad and website when people are shown ads that are more relevant and contextual to their geolocation.
- Return on Investment: You can attribute real-world walk-ins to the performance of the digital advertisement. This gives marketers a much better idea cost of customer acquisition and ROI.
- Data Collection: Geofencing allows you to test various offers to gauge its impact. It’s easy to track which offers increase store traffic or leads to increased sales.