You are reading this because you realized targeted display advertising is a $200 Billion dollar a year market and will surpass broadcast television ad spend in 2021. That is a lot of reasons to add geofencing to your agency.
This isn’t a get rich quick scheme. This is a real business you can operate from a laptop anywhere in the world that has internet. You get to build relationships with business owners, launch campaigns and make a lot of money if you do it right.
There is a learning curve on the technical side. You need to learn what DSPs and SSPs do, how to make ads and buy ad inventory on a platform, then market and sell your service.
The best place to start is learning how the whole ecosystem operates. I highly recommend you do a deep dive on this. Take advantage of this valuable resource.
Free Learning Resources for a Geofencing Agency:
They have a free course that teaches you how the whole system operates. It’s great for background information, understanding the platform, and to generally know what you are talking about. Knowing what you are selling is an important component in any walk of life.
The first step is to explain programmatic marketing. This is how the ads are placed on websites or apps the targeted audience visits.
To put the ecosystem in a nutshell, this is how it works for white label geofencing:
The ad marketplace consists of Demand Side Platforms (DSPs) and Supply Side Platforms (SSPs).
A Demand Side Platform (DSP) is the side you and your clients are on. You are the one buying the ad inventory and are on the demand side of the exchange. A Supply Side Platform (SSP) are the publishers such as websites and apps. They supply advertising inventory.
These exchanges fall under the heading of programmatic marketing. You have a buyer of ad inventory and a seller of ad inventory. Here is the cool part. It takes about 100 milliseconds for a website to load up. In that 100 milliseconds, the exchange does an auction style transaction between the buyer and seller of the advertising inventory. This is Real Time Buying (RTB) and uses algorithms for the bid and sale of the advertising inventory.
Here is a breakdown:
Most websites and apps have aligned with programmatic marketing. It makes sense, they are getting the premium of what the market will bear for their advertising inventory.
The point I want to briefly touch on. Back in the day, websites operated on the same advertising model as broadcast television operates on currently. Advertisers would deal directly with publishers. Politics, price fixing, competitor lock-out arrangements and other attributes of human nature were deeply entrenched within a system that influenced millions of people.
Now, with internet display advertising, the market largely determines advertising and influence. With millions of websites and apps distributing advertisements, advertising can be targeted to connect the right consumer with the right offer.
Television is undergoing the same metamorphosis as the Internet. Targeted display advertising is expected to surpass broadcast television ad spend this year for the first time in history. Connected Television is currently experiencing the transition. Subscription rates increased 30%, but ad spend for Connected Television only increased approximately 5%.
What this means is inventory for Connected TV advertising is cheap, which underscores opportunity. Also, the targeting capabilities associated with CTV are incredible. Targeting can include both geographic and demographic data. The advertiser is able to air a commercial, then measure foot attribution to the advertisers’ physical location by consumers who have seen the ad.
To summarize, take some time and learn about Connected TV. Get a production company that can make television commercials on speed dial. Research facts and figures about this industry. It is the next big thing.
Now that you have a little background, let’s get into it. Here is a step by step guide on how to sell geofencing or targeted display advertising. This system has been carved from experience and will greatly increase conversion rates.
Please send an email to email@example.com for a free step by step guide on selling geofencing.
Christopher Seminatore is the current owner of GetGeofencing.com, a geofencing agency, and former Naval Intelligence during the Gulf War. He quickly became familiar with military applications in identifying and locating persons and platforms of interest. When the technology crossed over into the private markets, he was able to utilize his military background and technical expertise with targeted advertising campaigns. He has published a book “Geofencing: What it is and How to Sell it”. Additionally he guest lectures for the UC Irvine Masters Program on Hyper Local Marketing.