fbpx

Target Marketing: Geofencing Competitor Locations

April 19, 2022

Businesses are always looking for new and innovative ways to target their customers. One of the latest trends in target marketing is geofencing competitor locations. Geofencing allows businesses to create a virtual fence around a specific location, and then send targeted ads to people who enter that area. In this article, we will discuss how geofencing can be used to target your competitors’ customers!

Geofencing is a relatively new technology. However, there are already businesses using it to target their competitor’s customers. One of the most well-known examples is from the fast-food chain Sonic. Sonic has been using geofencing to target customers of their competitors, such as McDonald’s and Burger King. When customers of those restaurants enter Sonic’s geofenced area, they receive a targeted ad for a discount on their next meal.

Click for more geofencing strategies.

Target Marketing 101

areLet’s start off by defining target marketing. Target marketing is the process of identifying and marketing to an audience that demonstrates a strong interest in your business’s product or service. A strong interest is clearly demonstrated when someone visits a competitor’s location. The places people go is the strongest indicator of their buying intent.

An example we often use is car dealerships. If someone is physically visiting a car dealership, they are actively looking to purchase a vehicle. This is target marketing 101.

By successfully targeting your market, you substantially reduce wasted ad spend by advertising to a relevant audience. Wasted ad spend is defined as money spent on ads seen by people with no interest in your business’s product or service. A strong case in point is broadcast television. A large portion of the target market for most broadcast commercials is not interested in what is being advertised.

This is where geofencing comes in. Geofencing allows businesses to target their ads to people who have already demonstrated an interest in their product or service by visiting a competitor’s location.

The Competitive Advantages of Geofencing

Now that we’ve gone over target marketing 101, let’s discuss how businesses can use geofencing to target their competitor’s customers. The first step is to identify your target market. Does your target market visit competitor locations? Do they use your products or services? Are they in your local area?

Once you know who your target market is, you can begin to research which locations they frequent the most. After you have a list of locations, you can create a virtual fence around those areas using geofencing technology.

Once your geofence is set up, you can begin to target ads to people who enter that area. The ads should be relevant to the products or services offered by your business. For example, if you are a car dealership, you might target ads for discounts on your vehicles to people who enter a competitor’s car dealership.

The Benefits of Geofencing

If you are targeting your competitor’s customers, geofencing is a powerful tool that can give you the competitive edge. Geofencing allows businesses to target ads to people who have already demonstrated an interest in their product or service by visiting a competitor’s location.

There are many benefits using geofencing to target your competitor’s customers.

  • First, it allows you to reach a relevant audience that is already interested in your products or services.
  • Second, it allows you to target a specific location, which can be very effective for local businesses.
  • Third, it is a relatively new technology, so your business will have a competitive advantage over businesses that are not using it.

Competitive advantage is the key to success in business.

Geofencing Competitor Locations

Now that we have a basic understanding of target marketing, let’s discuss how businesses can use geofencing to target their competitor’s customers. As we mentioned earlier, geofencing allows businesses to create a virtual fence around a specific location. Once the fence is created, businesses can target ads to people who enter that area.

There are a few different ways businesses can use geofencing to target their competitor’s customers.

  • Research which locations your target market frequents the most.
  • List the physical locations of nearby competitors.
  • Create a virtual fence around those areas using geofencing technology.
  • Target ads to people who enter that area.

Another way businesses can use geofencing is by targeting customers who have visited a competitor’s location recently. For example, if you own a store, you could target customers who have visited your competitor’s store in the past week.

The last way businesses can use geofencing is by targeting customers who are located near a competitor’s location. For example, if you own a store that is located near a competitor’s store, you could target customers who are within a certain radius of your store.

There are many different ways that businesses can use geofencing to target their competitor’s customers. Geofencing is a powerful tool that can be used to target your competitor’s customers and give you an edge over your competition.

In Summary

To summarize, you will get greater results out of your ad spend by targeting your market. Getting your business in front of a relevant audience is key to the success of any advertising campaign.

Second, by targeting ads to people who have recently visited your competitor’s locations, you are more likely to reach people who are in the market for your product or service.

And finally, by targeting customers who are located near a competitor’s location, you will be able to reach people who may not be aware of your business.

If you are looking for a way to target your competitor’s customers and get an edge over your competition, geofencing is a powerful tool that you should consider.

Here is a link to several videos detailing geofencing capabilities

What are your thoughts on target marketing? Have you used geofencing to target your competitor’s customers? Let us know in the comments below.

If you enjoyed this article, please share!

 

Contact us for more information about Geofencing and how it works!

Chris Seminatore Get GeoFencing

About The Author:

Christopher Seminatore is the Managing Partner at GetGeofencing. He is ex-Naval Intelligence, graduated from Miami of Ohio, currently resides in Baja California and guest lectures at UC Irvine on Hyper-Local Marketing for the Business Administration Master’s Program. He is spearheading another project to assist business owners aptly named GetGeoLocal. Mr. Seminatore is an avid motorcycle enthusiast that hates working out but does it anyway. Go Bengals, Go Rams!  

Related Articles

Local Ads: 3 Benefits of Geofence Marketing Campaigns

Local Ads: 3 Benefits of Geofence Marketing Campaigns

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...

Geofencing Digital Ads in Texas: Know How Get Geofencing can Help

Geofencing Digital Ads in Texas: Know How Get Geofencing can Help

How do you use geofencing digital ads? How can we help your business grow? Let's read over all the things you need to know before using digital ads. Geofencing digital ads in Texas are quite new in the market. But the marketing tool is making rounds now! It's an...

Digital Fencing Marketing: How it Works for Political Campaigns

Digital Fencing Marketing: How it Works for Political Campaigns

Have you recently heard that geofencing helps in political campaigns? Here's how digital fencing marketing can help political campaigns. As you know, voter awareness matters. They will not vote unless they find someone they trust. With digital fencing marketing, you...