Geofencing leverages GPS to elevate ROI on digital campaigns
Data drives everything we do here at Marshall Fenn. We get to know customers’ journeys and experiences by collecting demographic data. But how do we?use?this data to inform our strategy and successfully reach potential customers?
We use cutting edge marketing techniques to tap into customers’ goals, needs and desires. A location-based digital marketing technique called geofencing can enable your digital campaigns to speak specifically to each of your customer personas, on their smartphones at the places they frequent. Geofencing is a powerful way to reach more users interested in your product or service.
“Geofencing, put simply, is a way to localize targeting and only reach specific people going to specific places,” according to Ahmed Daoud, Digital Media Specialist at Marshall Fenn. “Geofencing uses mainly GPS technology to create a virtual parameter. When the users enter the virtual ‘fence,’ their phones are tagged and ads are served if they match the targeting criteria.”
Geofencing enables digital marketers to put to rest old “spray and pray” techniques; ads can be finely targeted to each potential customer, with custom messaging and creative to match their unique needs and desires. With finer targeting comes less irrelevant impressions, which results in higher ROI.
Marshal Fenn leverages geofencing in a number of verticals including gaming, real estate, healthcare and senior living. We were able to geofence relevant locations like retirement homes, car dealerships and more. These ads “are resulting in a consistently high CTR as well as a lower CPA, because we’re reaching people with the right ads at the exact right time,” says Daoud.
Geofencing can also be employed in other, more creative ways, in order to collect data about customer habits and learn more about a business’ direct competitors.
“Another great advantage of geofencing is understanding the number of people of a certain demographic passing by a particular area,” describes Aneet Hundal, Digital Media Coordinator at Marshall Fenn. “If you had an OOH campaign, you may want to gain a better understanding of how many people who fit your specific target audience pass by the OOH ads. By setting a geofence around the ads, you can gain insights that would have otherwise been impossible to obtain.”
Marshall Fenn has also been utilizing the GPS technology behind geofencing to leverage other experimental tactics, like geoconquesting. “We geofence out clients’ competitors, and track on site visits from said tactic. Results have been very promising, where we were able to shift customers away from competitors to our clients’ locations,” says Hundal.
Geofencing can enable your campaigns to speak clearly to your potential customers, and collect critical insights on customer habits. And, according to Daoud, refining mobile ads through geofencing is a logical response to the data that proves customers’ changing habits. “With the increasing prominence of mobile consumption, people are more on the go than ever before. Data has shown that customers don’t consume content on desktops the way they once did. As such, it’s imperative to target them on their phones and tablets while they’re on the go,” says Daoud.
No matter your field of business, geofencing is a critical addition to mobile ad campaigns that will attract new customers. If you’re curious about how geofencing can work for you,?contact us?today to learn more about how this cutting-edge digital tactic can make your campaigns more effective.