How to Use Geofencing to Widen Your Audience
When you are working on growing your client base, the most valuable knowledge you can acquire is which people are already interested in your product or service. Tracking your online interest is easy, but it ignores the wide swath of in-store shoppers and people out on the street in the real world. Short of physically counting each person who enters a space, it may seem like there are not a lot of options for tracking this kind of data.
This is where geofencing comes in. The great thing about geofencing marketing is that it can even help your business if you have transitioned to an online-only model during the pandemic or if you were never a brick-and-mortar business. Read on to learn what geofencing marketing is and how you can benefit from it, online or in-person.
What is Geofencing?
Geofencing may sound complicated, but it is actually very straightforward and can even provide you unique insights that you would not get with online tracking. In geofencing strategies, marketers draw a digital perimeter around the buildings of a brick-and-mortar business. Whenever a person crosses the perimeter, or “fence,” they become part of a privacy-compliant audience you are able to target with ads wherever you advertise. This is different from geotargeting, which sends people targeted ads based on their current location.
How is Geofencing Marketing Different Than Traditional Ad Targeting?
The biggest difference is intent. When you target people who have already shown interest in your product by visiting a retail location, you know that these are high intent customers. They do not need nearly as much convincing as a cold audience and are willing to make the trip to the store to try out an item in person. This all leads to higher conversion rates.
The other advantage is that certain tools let you look back at historical data, which gives you access to customers who have visited locations in the past. This is a useful strategy for transitioning your business online or for looking at data surrounding specific dates or holidays. You can also establish your geofence in any location, such as nearby areas or similar stores to yours.
How Can You Use Your Geofencing List?
Once you have your location-based audience, you can use them like you would any other lead list, but without the limitations of one platform. If you have a physical store, you can also track who saw your ad and then returned to the store. This will help you test which ad campaigns are most effective.
You can also use your list to target other people who have similar online behaviors to those with your ideal in-person shopping behaviors. This is a great way to expand your audience, particularly in times when in-person shopping numbers may be artificially low.
Let GMS plan, implement and maintain a Geofencing strategy specific to your industry and location, and increase your reach with multiple points of influence. Contact us to learn more about our IP targeting services.