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Role of geofencing in marketing

Over the years, geofencing has been used to boost a variety of processes. Geofencing lets you create virtual parameters around a certain area. The technology is increasing day by day and making its way into different industries.

Let’s take a look at some of the uses of geofencing:

  •       Asset monitoring

Geofencing plays an important role in asset tracking. You can also check the frequency of a particular asset. It could be a machine in transit or a machine that works in a fixed location. One can read all the relevant information when the asset enters that area. This helps in ensuring efficiency and improving delivery processes as well.

  •       Employee Monitoring

Employers are popularly keeping track of their employees via the Xnspy app that tracks locations along with geofencing. The help lets you set alerts on certain areas so you can know the moment the phone user enters or exits that area. This way, employers can know where the employees are, and this app particularly comes in handy when you have remote employees working on the site. To ensure that they are checking in out timely, Xnspy’s geofencing feature helps on getting accurate information about the employees’ whereabouts.

As many companies provide employees with smartphones, it has become easier for employers to use geofencing for their monitoring. Employers can keep track of their attendance, maintain deliveries, and ensure time management.

  •       Fulfilling Consumer Demands

Any industry’s main goal is to fulfill consumer demand. The entire system relies on the user experience. With the help of geofencing, you can focus on setting the region on a particular area to allow management.

  •       Monitor Turnaround Time

Geofencing also helps in monitoring the assets’ entry and exit timing using a specific location. This way, you can track down the turnaround time along with identifying whether location performance is accurate or not. Geofencing applications are widely used in the logistics and transport industry to track vehicles. You can check that the products are loaded or unloaded and delivered on the endpoint.

Geofencing in Marketing

As of late, geofencing is becoming widely popular in the marketing industry, taking personalized marketing to the next level. Using geofencing with smart data and smart strategy could make geofencing a successful tool for your business. Using geofencing for marketing is called location-based marketing. It has the potential to engage prospective customers for a targeted campaign.

Geofencing marketing creates valuable interactions between the customer and the brand.

Geofencing is a location-based digital marketing tool that allows markets to send messages to smartphones used in a particular area. Shoppers at a mall can get ads by the stores’ locations in the mall.

Digital markets use GPS capabilities to send ads to people who are geographically ready to make buying decisions. Brands can expect about a 20% increase in conversion by adding location data to their ad data, as per a report by Skyhook.

Owing to location-based marketing’s highly-targeted and localized audience, this marketing tool leads to produce fewer but qualified leads. This leads to better ROI and higher quality clicks as well as ROAS return on ad spend.

Let’s take a look at the role of geofencing in marketing and how it benefits this major activity of the business:

  •       Knowing the Consumers’ Mindset and Discovering Patterns

Geofencing is a great means to understand the shopping habits of your target audience. You can predict patterns and consumer behavior. With this increased understanding of geofencing, the business can boost its sales with the help of targeted ads and gain more exposure for your brand.

You can reach the customers at the right place and right time and reach them on their mobile phones by targeting the individuals in an area. You can reach customers as soon as they enter the virtual barrier. One could use geofencing to create a virtual boundary around your store, and when your potential customer enters that area, you can have an ad offering deals to send to your customer and offer promotions and deals right into their hands.

  •       Managed Data

With the implementation of location-based marketing, you can access a lot of data and generate leads and insights regarding your business’s performance, suitable locations for business expansion, and the approachable business segments.

  •       Affordable Campaign

The biggest advantage of geofencing is how it makes the marketing campaign affordable. The campaign is customizable and targeted so that you can get the best results. Conventional advertisements can become costly if you wish to target a bigger audience. But not with geofencing.

  •       Increased Efficiency

Since location-based marketing is highly targeted and personal, it boosts the efficiency of the business. By delivering particular orders to people basing on their location, you can largely increase the impact of communication on buyers.

  •       Beat your rivals

One of the best things about geofencing is that you can even place a geofence around your rival’s place of business. If someone enters that area, you can send them an attractive offer and lure them to visit your brand over the competitors.

Geofencing is an ideal way to boost brand awareness and get your audience to think about you rather than your competition.

  •       Boost Sales

With the help of geofencing, you can increase sales with the help of an improved local marketing campaign. Local marketing assists you in getting more conversions and increasing your sales.

For example, you are offering 40% off on your store. Using location-based marketing, you can send notifications in the app or show a social media ad that advertises your discount offer. This would get you more people in the store to come and check out your products.

  •       Boost engagement

Using geofencing in marketing assists you in increasing engagement with your brand. When you send direct offers to the audience, at the right time, you provide them with an opportunity to engage with your business and let them see what you have to offer.

People only want to see advertisements and offers relevant to their interests. With timely customized offers, you largely increase the chances of audience engagement with your brand. Better customer engagement increases brand advocacy and loyalty.

  •       Increase brand awareness

You can build brand awareness with the help of geofencing marketing. You place your brand right in front of your audience and make them think about your business. It is one of the best ways to remind your target audience about your brand’s existence, so they make the buying decision in your favor and choose you over your rival.

  •       Personalized customer experience

Personalization is the key to a successful marketing campaign. As stated earlier, people are only interested in knowing about offers and deals relevant to their likes and interests. Your audience sees ads from tons of companies daily.

If you want your target consumer to remember you, you need to personalize that offer. Geofencing plays a key role in understanding consumer needs and tailoring an offer around it. This lets you collect a lot of data on your customers. You can know which offers to produce more interest and engagement. Merging these two leads to a better understanding of the target audience to create offers so that more people come to you.

Geofencing has changed the face of marketing and is expected to transform the marketing ways in the coming future.

Note: This is a guest blog by Andrew Carroll, who is a cybersecurity expert