In the digital marketing world trends evolve quickly. As a leader in this field, Oswego Creative has been using both geotargeting and geofencing as a business intelligence tool and a way to increase conversations. We believe that it can be very beneficial for companies and businesses to use because it creates opportunities to track individuals based off their locations.
So what is geotargeting/geofencing anyway?
This is how we define these location based tools:
These tools work by reading data and sensors from an individual’s smartphone. The phone itself looks for cell towers and WiFi networks nearby. Then, this technology that allows geotargeting and geofencing gets a good estimate on where this person is in relation to a particular business.
For more information, Geofence Marketing has put together a great article explaining the basics of geotargeting and geofencing.
These are the reasons why we believe these tools can be extremely helpful for a company:
1. It improves sales.
Because of the GPS location tracking in smartphones, geofencing is able to use this to find potential customers who are near a business. It would then send potential customers a message inviting them into the store and increasing foot traffic.
2. It gathers customer data.
Geofencing and geotargeting tools are used by businesses to collect individuals information so they can understand them and their buying habits better. By gathering this information, businesses can really learn which customers to target in a specific location.
3. It’s customizable
Geotargeting allows different campaigns to run in different locations, all at once. It’s possible to change the message depending on where the ad will be running and really focus on different audiences. This allows a unique way to engage and match the most relevant content to people.
4. It helps restrict visibility.
Geotargeting can greatly impact an online campaign because it helps highlight the most qualified leads. As a result, this helps businesses get the most out of their budgets. For example, a local business will use their marketing budget best by running a local campaign rather than a national campaign. Geotargeting will let a business restrict ads so that money is only being spent advertising nearby.
5. You can learn about your competition.
Using geofencing will allow businesses the opportunity to analyze their competitors, as well as learn who their biggest competition is. They can also see how loyal customers are and where they’re going when they're not visiting. Competition can affect how much a business pays to do a task, as well as how much they spend on advertising.
Overall, geofencing and geotargeting are excellent technology tools that transform local data about an individual into a great business tools. Taking advantage of them allows you to discover insights with valuable analytics to make your conversations greatly increase. For more information on the requirements of geofencing and geotargeting see our infographic below.
