How Geofencing in Marketing Can Increase Sales
The Rise of Geofencing in Digital Marketing
Geofencing helps businesses engage with customers based on precise geographic locations in the rapidly changing digital advertising landscape.
As Bill Dietz, guest on The MindShift Podcast with Darrell Evans, discussed, it's a robust methodology, especially when combined with tactics like addressable targeting and retargeting, to boost campaign efficiency and return on investment.
What is Geofencing?
Geofencing is a location-based digital marketing strategy that enables advertisers to send targeted advertisements to consumers' mobile devices within a defined geographic area.
There are two main types: standard and addressable. The former focuses on general geographic regions, while the latter utilizes additional data points such as age, income, and business verticals to refine the audience further.
Business Vertical Applications
Geofencing is highly applicable across various industries, including healthcare, retail, and automotive.
For instance, in healthcare, native ads that blend seamlessly into editorial content are used to engage potential patients with higher engagement rates subtly.
Furthermore, regional conference or event locations can use geofencing to capture the attention of attendees, turning them into potential leads or customers.
Advanced Targeting and Customer Retargeting
Search and Content Retargeting
Search plus content retargeting is another critical tactic discussed by Bill.
This strategy includes using search engine results from platforms like Google, Bing, and Yahoo and aligning them with content consumption on various websites to construct a more comprehensive prospect pool.
This allows advertisers to retarget potential clients who have shown interest but may still need to take action.
The Role of Third-Party Segments
Using third-party segments based on monitored online and offline actions is vital. Bill gives examples from Texas, showing how advertisers can develop a deeper understanding of consumer behaviors, which aids in crafting more precise marketing messages.
Continuous Exposure and Consumer Behavior Understanding
The 30-Day Engagement Window
One notable strategy is the continuous ad serving within a 30-day period, which is crucial for catching the audience at the optimal time in their buying journey.
Understanding the customer journey stages—attention, interest, desire, and action—is essential in this context, as it helps define the timing and content of the ads.
Use of Digital Dashboards for Optimization
A digital dashboard is crucial in tracking campaign performance, including essential metrics such as impressions, clicks, and overall engagement.
This tool is invaluable for advertisers to continuously make data-driven decisions about campaigns, as suggested by the interactive discussion between Bill and Darrell.
Impact of Geofencing on Business Growth
ROI and Analytics
The effectiveness of geofencing is also measurable, which invites a higher level of accountability.
Bill discusses using Google Analytics reports to track enhancements in website traffic and conversions, reinforcing the importance of understanding where website traffic originates and the overall impact on ROI.
Case Studies and Real-World Success
A practical example shared involves a house cleaning service client that experienced significant growth in website visitors through addressable geofencing combined with search and content retargeting tactics.
Such case studies illustrate the tangible benefits businesses of all sizes can gain from adopting geofencing strategies.
Conclusion
Geofencing's precision and effectiveness will only enhance as technology advances, offering more robust options for advertisers to target and retarget potential clients.
Entrepreneurs, founders, and CEOs are encouraged to explore this strategy grow their brands and businesses.
To learn more about how this marketing strategy can be tailored to their business needs, connect with experts like Bill Dietz.
