The Benefits of Geofencing in Location Based Marketing
One form of marketing that is getting popular today is geofencing marketing. It is taking a personalized message to people near your retail store or offering a discount to people whom you have seen leaving your competitors’ store. Your conversion can greatly increase if you add location data in your ad data. With the use of RFID or GPS, you can ever target minute locations like inside buildings and streets. You can even display messages to people within a definite radius.
Geofencing enables you to set up virtual boundaries that will make people who enter or leave that target location take action. Your marketing message will be delivered to potential once he enters or leaves the fenced location and this is where the marketing part comes in. The technologies used by geofencing are RFID, GPS, Bluetooth, etc. These enable the identification of the location. Mobile apps are also used like messaging apps to make possible the distribution of targeted messages. Your business can benefit much from geofencing. If you use geofencing for your retail store, then you will gain some benefits.
If you personalize your marketing messages based on the location, you can target people in the vicinity of your store. More and more people can be targeted to be led to your outlets. You can improve the targeting and personalization of your marketing message.
If your app provides consumers with relevant offers at the right time, then consumers are more likely to engage with your brand on mobile. This will give you better engagement with consumers which can help increase brand loyalty.
If you use geofencing marketing, then you can send offers to people who are very near to your store. The response and effectiveness of your campaign can easily be analyzed. It will also be easier to optimize your marketing efforts for better ROI.
The efficiency of location-based marketing is improved since it is highly personal and targeted. If you deliver specific offers to people based on their location, then the impact that your communication creates on the buyer is improved.
If you implement location-based marketing, you will be able to get data that you can use to generate insights like which stores are performing well, this location should expand, and which target segment is more approachable, and a lot more.
In order to identify location and implement algorithms based on boundaries, geofencing relies of four mobile technologies. If you compare these technologies, you will be able to find the best option for your business.
WiFi has a good potential reach since it is a standard feature in all smartphone devices.
RFID has a high level of precision in tracking. The consumers don’t have to do anything with this technology. It is battery friendly for communication.
GPS is cost-effective and offers a good precision when used outdoors.
Using Bluetooth and location, locations can be identified of all devices within the signal radius.