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Have you heard of “Geofencing?” If you haven’t, you need to know the basics.
Geofencing allows you to set up a “virtual fence” around any physical location, using GPS coordinates to define exactly where you want to target customers. This Geofence can be set to run all the time, or set to only run certain times of the day or week.
Once a target prospect or customer enters your Geofence, you are set up to “capture” them via their smartphone or other device’s GPS. It’s a powerful way to generate an audience based on proximity. Once you capture a potential customer, you can target them with ads for up to 30 days. Marketing experts recommend serving no more than eight impressions per day to your captured audience(s).
As you might expect, you can then track and evaluate who sees your ad, where they saw it, who comes into your business, and who converts to a website visit.
Geofencing is a unique way to capture top-of-the-funnel prospects by reaching them at the places they physically visit, as well as where they spend time online. It allows you to target your defined demographic(s) and location(s).
The results of a Geofencing campaign can be compared to a well-performing display ad or retargeting campaign, but you reach your audience much differently with Geofencing. You can’t target general display ads to hit your audience in locations they frequent most, or the times they are most interested in what you have to offer.
Every business, location, and industry can vary quite a bit, so you’ll have to determine Cost-Per-Acquisition (CPA) for your campaigns. Some Geofencing campaigns will get a $10 CPA while other may be $100 CPA, partly depending on how well-targeted Geofencing locations are.
There are a lot of factors to consider to optimize your Return on Advertising Investment (ROAI), and we can help you put together a solid plan. A Geofence that contains 80% of your target demographic will likely perform better than another area (or timeframe) containing 50% target of your target. You can’t know for sure, though, till you test your markets and analyze the results.
Focus on testing a few areas with a modest budget and comparing results before you really dive in. Since Geofencing has a lot of factors to consider and evaluate, testing just one area won’t give you the depth of information you need to make the best decisions on where to spend your money, nor on how effective this strategy is compared to AdWords, display ads, retargeting and others.
Much like serving ads on Facebook, targeting the right demographic and the locations they frequent most will be key.
SalesFish can set up a solid Geofencing plan to round out your marketing and sales portfolio and reach potential customers in a whole new way!
Stay tuned for more relevant content on creating world-class digital marketing strategies and B2B telemarketing sales strategies. We at SalesFish Brand Marketing & Sales thank you for joining us in our commitment to unwavering strategic planning, B2B brand marketing and B2B sales execution.
Call today and our “high-touch” dedicated team will assist you in assessing your strategic sales goals to tailor our marketing and sales tactics to your specific needs.
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