Marketers must be familiar with geofencing. Many marketers already use this strategy to increase sales, conversions, and profits. Undeniably, it works, so give it a shot if you want to stay ahead
For starters, you must understand what geofencing is and how it can help you grow as an entrepreneur.
So, let’s define geofencing and why marketers should use it.
What is Geofence Marketing?
Geofence marketing allows you to target potential customers based on their location.
It allows you to create a virtual boundary around a specific location. This location can be set to a city, state, country, or even a specific area around your store.
When a mobile user enters this location, geofencing technology can trigger various events. Most of these events are designed to promote your business and increase your sales. This can be done via SMS, push notifications, or even a programmatic advertising stack.
Using this technology, you can target the right audience at the right time. Geofence marketing works well because it allows you to customize your marketing strategy to appeal to your target audience.
It can help you create marketing campaigns that are tailored to your target demographic’s needs. This helps you improve your marketing efforts.
Using geofencing in your marketing strategy can greatly increase your ROI. But no. It also has many advantages for your company.
So, here are 5 more reasons to start using geofencing in your marketing strategy.
1. Target Local Customers
One of the main advantages of geofence marketing is that it increases offline user engagement. With geofencing, you can easily identify potential customers who cross your defined boundary.
So you can instantly target them by sending push notifications alerting them to your store’s presence nearby. To entice them to your store, tell them about your deals.
This is a great way to get them into your store, and since it’s only a few minutes away, they won’t mind.
It’s a great way to target local customers and increase store engagement. Once they enter, you can invite them to explore your other offerings for more options.
2. To Use Customer Feedback for Improved Experience
You can use geofencing to track when a target audience enters or leaves your store.
You can use this data to survey your customers about their shopping experience.
When a customer leaves a store, their memory is still fresh. Taking their feedback now increases the accuracy of your survey results.
This feedback can help you understand what your customers think of your company and how to improve your customer service and overall business.
Also, studies show that reaching a lead within the first 60 minutes increases conversion rates by 7 times. So you can reach out to them right after they leave your store.
3. Attract Your Competitor’s Customers
Geofencing allows you to target your competitors’ customers. You must geofence your competitors’ stores. Geo-conquesting is the technique.
This allows you to target your competitors’ customers at their stores.
So, inform these customers about your store and explain why it is superior to your competitor’s.
It could be a special offer, free shipping, a money-back guarantee, or even a better shopping experience. Surprisingly, millennials (78%) prefer to spend money on experiences over stuff. So, if you can persuade them of the superior shopping experience they can have at your store, they will respond positively.
Also, research shows that 66% of customers compare prices while shopping in a store. And this leads 51% of shoppers to buy from a company other than their original choice. So, if you have a better price, let these customers know.
4. Expand local user base
These days, online shopping is king. While it allows you to reach customers worldwide, it’s important to remember that your local customers are the backbone of your business and keep you competitive locally.
Local users can’t be ignored no matter how successful your eCommerce section is. Geofencing allows you to connect with local customers who are more likely to buy from you.
Using this method of marketing, you can build a strong local user base that can grow over time.
The best part is that you can add more geofences if you plan to build multiple stores.
5. Cost and Time Effective Marketing
Geofencing is incredibly cheap. Because it allows you to target your audience by location, you can avoid mass-marketing.
It also lets you choose who to target. You can select the best option for your marketing needs.
Geofence marketers don’t need any special skills. Anyone can do it quickly and easily.
So you don’t even need to hire a pro. This makes it incredibly cheap. It also saves a lot of time.
These are some of the benefits of geofencing for your business. Geofencing and push notifications have proven to be effective ways to differentiate your mobile presence from competitors and increase brand engagement. So if you haven’t used it yet, you should start now.