In digital marketing, there are myriad tools at your fingertips to help you reach your desired audience. A good marketing campaign shouldn’t just reach the most people possible, though. Benefits of Geofencing Ads – It’s the quality, not the quantity, of leads that makes a difference.
You want to reach someone who is likely to buy what you’re selling. One of the best ways to do this is by utilizing geofencing ads.
Here’s an explanation of geofencing and five benefits of using geofencing ads:
What Is Geofencing, and How Does it Work?
Geofencing ads allow you to target digital marketing campaigns to people within specific, real-world locations. By setting up a virtual boundary around an area, you’re able to serve ads to anyone within it. This area can be as large or as small as you need it to be. You can target anything from a single building to a city block to a whole neighborhood and beyond.
With more and more ads being served to mobile devices, location-based advertising is a great tool to have in your arsenal. As long as someone has location services active on their mobile device, you’ll be able to reach them in the designated area.
For example, let’s say you own a pet supply store. You want to be able to reach more customers in your area, but you need to make sure you’re spending your advertising budget wisely. You know that a lot of dog owners in the neighborhood spend time at a local dog park, so you decide to set up a geofence encompassing it. Now, whenever anyone takes a look at their phone while their dog plays at the park, you’ll be able to reach them directly.
That is the power that geofencing provides.
The Benefits
1. Maximize Your Ad Spend Efficiency
Digital marketing can be expensive, but it can also be a major driver of business. Whenever you start a digital campaign, it’s important to try to spend your money as effectively as possible. The higher the return on ad spend (ROAS), the better.
By geofencing ads, you can target your marketing with pinpoint accuracy. Instead of spending more money on a much broader ad campaign, you can narrow your search and lower your spending to only reach people in a specific area. By excluding areas that might underperform, you save money on your overall budget. If you have a physical store or restaurant, you can narrow your campaign to your neighborhood instead of your whole city. If you’re an online business, you might want to avoid certain neighborhoods, districts, or zip codes that are less likely to visit your site.
You don’t want to spend money on advertising that will fall on deaf ears, so use geofencing to be more mindful of your spending.
2. Increase Your Targeting Accuracy
In terms of digital marketing, accuracy describes how often someone who sees an ad will click through and take action. This “action” can be anything from signing up for a newsletter to registering for a consultation to making a purchase. Anytime you launch an ad campaign online, you should have a specific goal in mind for it.
Geofencing ads add another element to help make sure your marketing campaign performs well. Not only can you use geofencing to save money by excluding areas from your campaigns, but you can also use it to invest more money in areas that are likely to see a higher ROAS. Geofencing helps you target the people most likely to come into your brick-and-mortar or visit your website, giving you the most value for your money.
3. Boost Your Brand Awareness
Being conveniently located near someone who sees your ad is important, but it’s not the only thing you should be using geofencing ads for. You don’t just want to target people who are in the area in the hopes that they might wander in; you want to target someone because they want what you have to offer.
With this in mind, think about what areas might have a high concentration of people interested in your business. If you own a comic book store and there is a big convention rolling into town, you can advertise your business in and around the event. You could also use a different strategic tactic and advertise around any competitors you might have in the hopes their customers might consider you for their next purchase. Geofencing offers a lot of possibilities for spreading the word about your business among the right communities.
4. Keep Your Customers Engaged – Benefits of Geofencing Ads
In digital advertising, it’s not enough to get someone’s attention just once. With all the information and input a person is bombarded with every day, you need a way to break through the noise and keep customers coming through your door.
Geofencing ads give you another way to reach back out to your existing customer base, reaching them at the most opportune time. For example, a restaurant could use geofencing to run a campaign to patrons in their immediate area about a new lunch special, or a retail store could send out a special offer to previous customers who happen to be nearby, motivating more customers to return. It’s a powerful tool at your disposal, giving you the chance to mesh your online marketing campaign with the physical world.
5. Grow Your Knowledge Base
In the old days of print advertising, there was precious little information you could get about an ad once it was out in the world. The beauty of digital marketing is that you can now determine just how well an ad is performing. You can measure how many people have seen your ad, how many people have clicked through, and how many people have taken action because of it. When you make an effort to track your customer preferences and behaviors, you can fine-tune your approach through data-driven decisions.
If you would like help building a geofencing ad campaign as a part of your marketing strategy, the team at InnoVision Marketing Group is here to help. Reach out today and see how their team can give your marketing a boost.
