It’s time to implement geofencing marketing into your business. Geofence marketing is proven to increase sales, engagement, and customer loyalty. Geofencing marketing is specific location-based advertisements which allow marketing teams to more finely target their advertising and content delivery based on the targeted area. A “geofence” is the physical boundaries of a target location. It could be a specific city, a postal code,a county, or a kilometer range around a physical store location. It is also possible to configure multiple geofenced marketing channels for businesses with multiple locations. With geofencing marketing, marketers can resonate more strongly with the people living in those locations.
Every business should want to improve their customer experience, after all customers are the major source of revenue for every business. Delivering high-quality service through the best indoor positioning system, which leverages geo fencing technology is critical for their success.
A study by Frederick F. Reicheld and Phil Schefter show that a little increase of 5% in customer retention can lead to a profit increase of 25% to 95%. Since customer retention is very challenging, knowing how to interact with your (potential) customers in a more personalized way will definitely help.
A research report by Experian shows that personalized emails sent to consumers have a great effect on open rate, triggered open rate, promotional click rates, and triggered clicked rates.
Therefore, the earlier you start reaching out to potential and loyal consumers at the most relevant time, with the relevant product/service, the better the results you’re likely to get.
So how do you start reaching out to these potential customers at the most relevant time?
Integrate geofencing mobile marketing into your marketing strategy.
In a geofencing marketing strategy, the marketing team develops ads and content tailored specifically to the consumers within the geofence. People living in Toronto have vastly different priorities and needs than people living in rural Saskatchewan, so developing content that appeals equally to both audiences would almost be pointless.
Geofencing functions by targeting internet-capable devices, such as smartphones, within the specified geofenced area. When customers travel into these areas, they may receive alerts or notifications about your brand’s offers, limited-time promotions, and events where they can interact with your brand.
Mapsted’s location-based marketing with geo fencing technology essentially creates a virtual boundary that automatically targets consumers who cross the boundary into the geofenced area. Geofencing marketing is a powerful tool that allows marketing teams to deliver their brand’s messages to the right customers at the right times.
In today's marketplace, businesses already know they need to expand their digital footprint to separate them from their competitors. Casting too wide of a net, however, can backfire on your company if you aren’t careful about your marketing strategy. One way to ensure your net is where it should be is by leveraging Mapsted’s geo fencing technology.
Geofencing is the concept of targeting your online marketing efforts around a specific location. While most businesses operate online and sell to a wide range of customers across different locations, many still rely on their local consumer base to stay in business. If you're developing a multichannel marketing strategy for your brands, consider the potential of geofencing marketing.
Geofencing marketing is an excellent strategy if you want to bring more local customers to your business. This method of marketing focuses on a specific location instead of trying to appeal to a wider audience online.
Geofencing marketing can be implemented in many ways:
These are just a few examples of the possible applications for geofencing marketing that can have a positive impact on your business. However, much like any other new product or services for your business, we suggest doing your own research to determine the best location-based solutions for your business.
The need to leverage on geofencing cannot be overstated. Though it is still relatively new, the rate of success companies have achieved with it is immeasurable.
A study conducted by David Erickson shows that consumers love receiving location-specific offers right on their phone, due to its location relevance and interest.
With this in mind, here are some benefits of geofencing mobile marketing you don't want to miss:
Mapsted the indoor positioning company provides location based services like location marketing, location analytics and indoor positioning system.