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There are many benefits to using geofence marketing campaigns via local ads. Here are three of the most important ones:
1) Retain your customers:
According to a study by Boston Consulting Group, a 5% increase in customer retention can lead to a 25-95% increase in profits.
2) Win market share:
Geofencing can help you gain an edge on your competition by targeting potential customers who are near their businesses.
3) Acquire new customers:
By targeting people who have recently visited your competitors’ websites or stores, you can poach their best customers and convert them into yours.
Retain Your Customers with Local Ads
The most important benefit of geofence marketing is that it can help you retain your customers. In today’s competitive landscape, it’s more important than ever to keep your existing customers happy and loyal.
According to a study by Boston Consulting Group, a five percent increase in customer retention can lead to a 25-95 percent increase in profits. That’s why it’s so important to use geofence marketing campaigns to target your best customers and keep them coming back.
Geofencing campaigns allow you to capture the data of your in-store customers. You can then use this data to create targeted marketing campaigns that will keep your customers coming back. For example, you could send them exclusive coupons or discounts, or invitations to special events.
By serving local ads to existing customers, you can keep them loyal and reduce customer churn. Losing a customer is costly, so it’s important to do everything you can to keep them. Geofence marketing campaigns are an excellent way to achieve this.
Local Ads Help Your Business Win Market Share
In addition to retaining your customers, geofence marketing can also help you win market share. Geofencing allows you to target potential customers who are near your competitors’ businesses. This is a great way to poach their best customers and convert them into yours.
For example, let’s say you own a clothing store. You could use geofence marketing to target people who have recently visited your competitor’s store. When they visit a competitor location, they would receive local ads featuring your business with a special offer or discount. This would entice them to come into your store instead of your competitor’s.
Another example, let’s say you own a local restaurant. You could use geofence marketing to target people who have recently visited a competitor’s restaurant. When they visit your competitor location, they would receive local ads for your restaurant with a special offer or discount. This would entice them to come into your restaurant instead of your competitor’s.
Serving local ads has become mandatory for businesses with brick-and-mortar locations, especially if they have competitors. A business running active geofence marketing campaigns will outperform businesses that are not running campaigns.
Geofence Marketing Can Help You Acquire New Customers
In addition to retaining your customers and winning market share, geofence marketing can also help you acquire new customers. Geofencing campaigns can also capture individuals attending events or places of interest.
For example, if you are a local sporting store, you could build an audience of people attending a professional football game or little league baseball game.
Another example, a country-western store may want to run local ads to people attending a country music concert.
This is a great way to acquire new customers because you are targeting people who are interested in the products or services that you offer. Geofence marketing allows you to target potential customers who are actively interested in what you have to offer. This is a much more effective use of marketing resources than traditional methods like print ads or TV commercials, which target a much broader audience.
Targeting like-minded people with local ads will help you increase brand awareness and acquire new customers.
Where do the Local Ads Appear?
The local ads appear in the same places as other ads you see on your phone, desktop, tablet, and even connected television. They can appear in apps, on websites, or even when you are using a maps app. It’s important to understand programmatic distribution.
Programmatic Distribution of Local Ads
Programmatic distribution, to put it simply, targets the user and whatever website or app they are accessing. This could be anything from CNN.com to a workout application.
Whenever you access a website or app, there is an approximate 100-millisecond
delay.
In that delay, our platform bids on the available advertising inventory of the website, app, or television show. This ensures your targeted audience will see your local ad 3-5 times a day, for up to 30 days on each campaign. The local ads are then served to the targeted individual through local ad
exchanges.
Local Ad Exchanges
A local ad exchange is a marketplace that allows DSPs (Demand Side Platforms) to bid on local ad inventory from SSPs (Supply Side Platforms). The local ad inventory is made up of websites, apps, and connected television shows that have been programmatically targeted by our platform.
The local ad exchange allows businesses to target their ads to specific audiences based on location, demographics, interests, and even behavior.
This ensures your local ad is served to the right person, at the right time, and in the right place.
Conclusion
Geofence marketing is a powerful tool that can help you increase brand awareness, acquire new customers, and retain your existing customers. If you are not using geofence marketing, you are missing out on a great opportunity to grow your business.
Geofence marketing can help you retain your customers, win market share, and acquire new customers. All of these benefits will lead to increased profits for your business. So what are you waiting for? Start using geofence marketing today!
