Published: August 2, 2018
Have you added geofencing to your digital marketing strategy yet? No? You may be missing out on the perfect opportunity to precisely target your ideal customers.
1. Target more precisely than ever before.
First of all, what is geofencing anyway? Geofencing uses cellular phone data, GPS, RFID, or Wi-Fi to tag mobile devices when they enter or leave a geofence, which is basically a virtual boundary. Advertisers are then able to serve digital ads to these devices. Geofencing differs from other digital advertising platforms because of its pinpoint precision and accuracy.
Geofencing is the perfect technology to implement when your ideal customers are going to be at a tradeshow, an event or even a concert. How? Geofencing allows you to precisely outline and target a single building or specific area, even a parking lot, focusing your efforts on people who are already interested in products or services like yours. It’s the definition of a captive audience. And results are immediate, as you can start serving digital ads to mobile devices the moment they are tagged.
2. Gain a competitive edge.
Not only can you target convention centers or concert venues with geofencing — you can also geofence your competitors. Two words: game changer. Have a new competitor nearby? Geofence their building or even target their big events. You can then serve mobile devices with ads showcasing what sets you apart from the competition.
3. Prove return on investment (ROI) of digital advertising.
The geofencing software we use is also able to track offline conversions. Meaning, we are able to track that not only was someone tagged within your geofence, but they also saw a digital ad and visited your business. Digital advertising ROI can be hard to prove without an exclusive offer, but offline conversion tracking shows that digital advertising leads to store visits. If you add in an offer exclusive to geofencing, you can even further see how effective this technology can be.
This video was originally featured on Ad Age.
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