Companies already know they need to expand their digital presence to stay ahead of their rival in today’s marketplace. However, casting too broad of a net can backfire if you aren’t cautious about your strategy.
What Is Geofencing?
While most businesses operate online and sell to multiple customers in numerous areas, many still depend on their local customer bases to stay open. Geofencing is the notion of targeting your marketing actions around a specific location. Marketers can use Geofencing to target their advertising and content precisely to a particular area. People living in Los Angeles have considerably different needs and priorities than people living in rural Nebraska. Hence creating content that appeals equally to both audiences would be ineffective.
Geofencing vs. Geotargeting
To make it more straightforward to know why, how, and when the necessary targeting is used, we should proceed with the contrasts of geofencing and geotargeting. In Geotargeting, the advertisement targets a defined radius, behavior, and consumer’s interests. This means that marketers have wider nets and a broader audience which misses a couple of prospects here and there. Whereas Geofencing targets, the user’s IP addresses and creates a virtual fence to catch all the fish. The instances of geofencing would be:
- Targeting a 20-mile radius around your store
- 20-mile target around the competitor’s location
- Targeting subsidiary service areas
It’s essential to perform proper analysis to choose the best locations for geofences and to comprehend the possible return on investment from this type of marketing.
Benefits of Geofencing
When you are running a new promotion and want to attract more customers to your door, geofencing lets you deliver that content quickly.
It also helps build a brand’s local following and credibility, and business leaders can physically and digitally expand their organizations with greater confidence thanks to the insights gleaned from detailed geofencing marketing campaigns. When you connect with a local audience personally, you naturally grow your brand’s image with those potential customers.
In a Nutshell
You can use a geofencing strategy to promote lucrative offers to boost the target audience’s interest. Geofences around each area that attract customers with limited-time promotions are fantastic tools that leverage location data in your favor.
