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The Benefits of Geofencing in Location Based Marketing

One form of marketing that is getting popular today is geofencing marketing. If consumers are near your retail store or if you want to give discounts to people especially those who have just come from your competitor’s store, then you can send them personalized messages to attract them to go to your nearby store. Adding location to your ad data can help increase your conversion. You can even target minute locations like building and streets using RFIS and GPS. You can even define a radius in which a targeted marketing message is displayed.

If you want someone to take action when he enters or leaves the target location, you can set up virtual boundaries with geofencing. The marketing part comes in when the targeted message is delivered when a potential customer crosses the fenced location. RFID, GPS, Bluetooth, etc., are technologies used by geofencing. You can identify locations with these technologies. Mobile apps are also used like messaging apps to make possible the distribution of targeted messages. Many businesses can benefit in many ways by leveraging this technology. Below are some of the benefits of using geofencing for your retail store.

Targeting consumers near your location is possible if you personalize your marketing messages based on the location. More and more people can be targeted to be led to your outlets. You can improve the targeting and personalization of your marketing message.

Consumers will likely engage with your brand on mobile if your app provides them with relevant offers at the right time. If you have better engagement with your consumers, then you can expect your brand loyalty to increase.

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. You can then also easily optimize your marketing efforts to improve your 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.

Important data like which stores are performing well, which stores should expend, which target segment is more approachable, etc, can be achieved if you use location-based marketing.

There are four mobile technologies where geofencing relies on to identify location and implement algorithms based on boundaries. Coparing these technologies can help you choose the right option for you.

WiFi has a good potential reach since it is a standard feature in all smartphone devices.

If you are going for tracking precision, then go for RFID. It does not require any extra effort from consumer. 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.

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