Do you have a brand? Or looking forward to building one? Well, brand building is not everyone’s cup of tea, and with the existence of a ton of competitors already, it’s even harder. Yes, it’s tough to create awareness for your brand, but there are strategies that you can use to be ahead of the rest of the competitions.
What is Brand building?
Brand-building simply means creating awareness in the market and promoting your product or services to your target audience through advertising campaigns or through sponsorships. Marketing plays a crucial role in building a brand and generating leads.
What is Geofencing Marketing?
Have you ever been to a place where there are tons of options to choose from? Like shopping, for instance, you go to a mall and roam around and try to make a choice. Now imagine you saw a notification of 50% off on a certain brand, you might want to go and at least check that outright? Or you are hungry and you find a coupon on your phone saying 20% off on meals at this outlet, you might want to give that a try too.
In simpler words, geofencing allows brands or businesses to advertise themselves in a specific geographic region. With the rise in technologies like GPS and frequency identifiers, marketers can now restrict or target their area of work and set boundaries in real-world locations. This allows them to create a virtual barrier or “geofence” in the area. Especially Brand Agency for small business finds this strategy very useful in generating real-time customers.
Consumers can be easily directed towards the outlet or brand and can check out their social media or websites, generating more traffic.
GeoTargeted ads are useful when you look for:
- Target competitors’ customers: Setting up a geofence in the area of high competition to drive more customers.
- Boost foot traffic: Mobile ads, coupons, or notifications can send to customers in order to attract them to a specific location.
- Understand consumer behavior: In Geofencing, brands can aggregate consumer behavior such as the amount of time spent in-store or how visitors navigate their shops.
- Crowd engagement: Hosting events, festivals or concerts can use as a strategy by businesses or brands.
How geofencing marketing benefits your business?
Whether it's about in-store footfall or online traffic, Geofencing marketing has many benefits for brands and marketers. Here are some great benefits that you can consider:
- Local marketing with Geofencing
Geofencing is one of the most suitable and reliable marketing strategies for local area marketing. No matter how you pitch your presence online, the in-hand experience is what counts the most when it's about gaining trust
People are often more interested in getting out of their homes, especially on foot. Thus targeting people as they make their way past shops is important in so many ways.
As people are more interested in visiting shops and traveling within their communities on foot, these geofencing marketing has a lot of potentials.
- Consumer Behavior Data
In online marketing, the advertisements didn't actually allow you to collect data about purchase rate or even an intent whereas geotargeted ads let your businesses collect data about consumers with high-purchase intent in real-time.
You can use this information in the future to improve your marketing strategies and advertising methods to enhance your results. With all the technologies, Digital marketing agencies keep a track of such data and use it afterward.
- Brand awareness
One of the most important factors of any marketing strategy besides sales is creating brand awareness. Brand awareness simply means how familiar your audience is with your brand.
Earlier when we talked about how a coupon message can lead you to a food outlet or how a discount alert drives you towards having a look at the options. Geofencing marketing works in real-time and it may not directly convert into a sale but it definitely helps you to gain attention and have more awareness among your audience.
How to use geofencing marketing?
Marketing based on locations or simply geofencing can be a great option to drive traffic online or in-store. It’s one of the best ways to generate spot sales or attention.
This marketing strategy is beneficial but is costlier than the other ones at the same time. It’s costlier than google Adwords and other such advertisements as it requires a lot of data and geographical coordination.
There are some tips to use geofencing marketing, the right way:
Finding the right for your geofence
The larger the area for geofencing, the costlier it gets. Having said that, finding the ideal size is important in order to generate valuable leads.
For instance, you are a burger joint owner and you set your area for about 10 kms and spend money on that (which is a lot of money), the possibilities are that most of the people won’t even bother to stop by. This may sound too much of a work for them and definitely not their choice of comfort. They might not want to travel that much or didn’t have enough time to stop by.
Instead of working on a larger area, creating small hotspots is a better strategy to work on. The area should be reachable, and easy to access. Try to focus on an area from where anybody can walk in a few minutes.
You can also target your audience in some specific time schedule, let’s say office hours or weekends. Setting up geofence at some festival or an event helps to maximize the outputs.
Knowing your right audience is a crucial step in creating your strategy. Just like any other marketing campaign, understanding your target audience is key to great driving results.
Data such as their ages, genders, interests, and shopping behaviors need to be identified in order to improve your ad targeting strategies’ accuracy. What is the best feature of your business? Why do they need to stop by and invest their time in your brand? What services they might need?
Understanding your targeting audience allows you to create the right content or copy to draw maximum attention. This helps in creating better advertisements and ultimately helps your brand grow.
Actionable ads are the real deal.
If you always talk about your brand and brand only, the chances are the consumers might drift off. In order to keep consumers around and connected to the brand, work on offering something more valuable. A giveaway, occasional discounts, and loyalty points can be considered to enhance audience interaction.
Interact more with a Call To Action(CTA)
Call To Action or simply CTA is a button or a text link that allows the user to take action to that advertisement. CTAs are simple and easy to use the link that allows users to take action from the ad itself without actually searching on their own.
Some of the most useful CTAs are:
- Shop now
- Buy now
- Click here
- Learn more
Multiple targeting options
When it comes to GeoTargeted ads come, multiple targeting techniques you can use in order to communicate with your target audience more effectively.
Some of them are as follows:
Dayparting: Allow you to Target users at a specific time span
Behavioral targeting: Allow you to display ads related to your user behaviors.
Context targeting: Allow you to show ads based on website traffic.
Retargeting: Allow you to Send ads to previous visitors and customers.
Keep a track of your campaign
The strategy is not enough to pull out the whole game, constantly analyzing the response and improvements are also important.
Ad Impressions or Views: No. of times your ad is seen by the user.
Click-Through Rate (CTR): No. of clicks your ad receives per no. of impressions you receive.
Cost Per 1000 Impressions (CPM): Amount of money you pay per 1000 impressions.
Cost Per Click (CPC): The maximum amount of money you pay for a click on your ad.
Conversion Zone Visits: No. of people who visited your location upon viewing your ad.
Cost Per Visit: Total no. of visits to your store as compared to the cost of your marketing efforts.
Cost Per Action (Phone Call, Walk-In, Sale): Amount of money you pay to generate a conversion.
Walk-In Rate: % of people in an area who end up going to your location or store.
Geofencing marketing is one of the most suitable marketing strategies for building your brand communication. It allows you to analyze real-time audience response and allow you to gain more traffic both online and in-store. Social Media Advertising for Small Business is required to give a boost, this geofencing marketing strategy helps you gain awareness towards your brand in real-time.