What is Geofencing? Everything that You Should Know about it.

Using a Geofencing Strategy to Steal Customers from Your Competition

Do you want to enhance local sales, improve brand awareness, increase engagement, beat your competitors to win all local customers? What if we tell you, you can achieve all this by following one marketing tool - will you believe it. Well, it is true. And that one endowed tool is geofencing. What is geofencing, and what it can do for your business? Geofencing is a method that permits you to determine geographical boundaries to send cues or notifications to potential customers when they are in close vicinity of your selected area. Geofencing involves GPS or Radio Frequency Identification (RFID) or Wi-Fi in software or app to notify when a mobile device enters or leaves a particular location. Read this article to know all about geofencing and whether you should use this tool for your small business or not.  

What is Geofencing? Everything that You Should Know about it.

The more aware you are of all the marketing tools - as a business owner, the higher are your chances of success in 2022. Increased smartphone usage has influenced marketing approaches. Now to harness the potential of location-based marketing, a strategy known by the name geofencing has become popular. Marketers and business owners faced with cut-throat competition in the local market sector are advised to apply geofencing. Geofencing works through software or location-based app; it notifies the business when a customer enters a particular location. The business owner then sends targeted ads to this customer to attract them to stores. Geofencing ads naturally emerge in social media feeds or in search results as pay-per-click (PPC) ads.

Benefits of Geofencing

Geofencing produces outstanding results for marketers. It is the best approach to implement geo-targeted and customer-centric marketing. 

Geofencing is Cost-Effective:

The money you spend changes into sales. The engagement stats go up. Dollars you spend on only those prospects that take action the majority of times. Return on investment (ROI) is higher. 

Enables you to Attract Customers:

Geofencing allows you to communicate with the right customer at the right time. Relevant and timely messages to potential customers can turn them into buyers. 

Data Collection:

By implementing geofencing, you can access loads of insightful data. Whereabouts of your competitors how they have higher engagement. Using this data, you can improve your messages to the customers. 

Geofencing is a rewarding marketing strategy; it has several unique benefits. The wide-ranging geofencing benefits contain local brand awareness, competitive advantage, customized customer experience and increased sales.  

How Geofencing Gives Competitive Advantage?

The success of your business depends on how far ahead you stand from your competitors. Knowing your competitors well can help you immensely in developing your marketing strategy. Knowing your competitors is as important as knowing your customers. If you know where your customers go besides your business or in place of your business. This analysis aids you in figuring out a solution. Geofencing enables you to focus on competitors and discover why consumers prefer them over you. Geofencing also shows you the unique services your business offers to your customers. Then all you have to do is to attract customers towards those features of your business - thus generating a competitive edge for your business. 

How is Geofencing being Used?

Several ways exist for geofencing implementation by marketers. A company can apply geofencing through its smartphone apps, third-party apps, text messages, social media and google ads.

Social Media Ads: 

Famous social media platforms such as Facebook, Instagram, Twitter, and Snapchat, contain geofencing capacities. Use these platforms to define your radius - these will send ads to consumers when they enter that geofenced zone. Facebook local awareness ads can be a powerful tool for brand awareness. In reality, it is hard to attain the audience's attention - but social media platforms provide you access to 4.48 billion people (increased chances of success). 

Google Ads: 

Geofencing advertising is simple through Google ads. You go to the settings of a chosen campaign and pick from the geo-targeting options like radius, country, zip code or others. Ads randomly appear on smartphone devices based on the location information extracted through the device's IP address. However, if you use google ads location targeting it specifies the time and geographical location where the ad will appear. 

Third-Party Apps: 

A third-party app is developed by somebody apart from the maker of a smartphone or its operating system. Every app you install on your devices request access to information, including the location. Third-party databases are known to be good at keeping business addresses updated. One option for marketers is to attain data from third-party apps to conduct geofencing. 

Acquire valuable leads and local customers' complete attention for your business with a geofencing plan from Convex Studio Marketing. Our award-winning digital marketing agency in Cambridge Ontario will deliver you the best marketing outcomes free of stress.  

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