What is Geofencing and How to Use It
Geofencing may appear to be a high-tech, overly sophisticated alternative to growing online audiences, but it’s actually rather simple and can give you unique insights that social media does not. There is nothing more effective than knowing who is already interested in your product or service when it comes to building an audience. While triangulating your website visitors is a terrific way to keep track of your online traffic, you may be overlooking a whole other group of potential consumers in the non-digital world.
Geofencing works like this. Marketers establish a digital border around a brick-and-mortar business’s facilities. If someone passes the “fence,” they join a privacy-compliant audience that you may target with ads on any platform you advertise. Unlike geotargeting, geofencing markets to people who have entered your store previously. So what makes geofencing different than other ad targeting? Read on to find out more.
Geofencing Vs. Traditional Ad Targeting
The most significant distinction is intent. You know you are targeting buyers who are high-intent when you focus on folks who have already demonstrated interest by visiting a retail location. They don’t require nearly as much persuasion as an unprimed audience. Furthermore, you know they are interested enough to go somewhere in person rather than just browsing online. It all comes down to having a high-intent audience. You are much more likely to receive a better ROI and higher conversion rates if you target a high-intent, highly-qualified group.
What to Do with Your Geofence-Targeted List
After you have created your location-based audience, you may use them just like any other lead list. However, you are not bound to using them on a particular platform. You can use them on any platform where you run advertisements. If you have a physical business, geofencing allows you to see who has seen your ad and then returned to the store later. Not only is this type of accurate attribution extremely useful, but it will also allow you to test which advertisements are most effective before deploying them to a larger audience.
You can also create a mirror audience from your geotargeted list by targeting folks who have similar online behaviors to those who match your desired in-person purchase patterns. This is a fantastic approach to broaden your audience, especially when in-person shopping statistics are low, artificially or otherwise. Not only does this assist you in determining who you should target, but it also assists you in determining who you should avoid wasting your time and money on.