The advent of digital technology has seemingly leveraged geomarketing for companies of different scales to tap its benefits. This marketing technique uses geographic information systems (GIS) and data to facilitate marketing campaigns for firms and their sites. As a result, the global market size for geomarketing will grow from $10.7 billion in 2020 to $32.5 billion by 2025.
Geomarketing uses location data and digital mapping to reach consumers with appropriate messaging in specific locations. In addition, it leverages the use of geographical data and location-based information to accumulate marketing strategies and campaigns.
Geomarketing makes use of demography to ensure the accurate promotion of products to the right audience. For instance, McDonald’s caters to their German user base with beer servings while they target local flavors in the middle east and countries like India.
Look at the banners from their US and Indian websites. These images reveal the modifications in their menu based on users’ taste preferences from the two countries.
Geomarketing is regarded as one of the most effective forms of marketing strategies that benefit both SMBs and large enterprises. Some of the benefits that firms can extract out of this marketing hack are enlisted below.
Smart Location as a Sales Strategy
Analyzing buyer personas, firms can present their point-of-sale in an improved fashion to their audience, enhancing customers’ purchase experience.
The combination of positioning and marketing enables marketers and decision-makers to design campaigns and create strategies based on buyers’ location. Focusing on this method along with customer data and competitive insights portrays the list of areas with the highest demands for specific products and services. This serves good for businesses helping them attract new customers and potential buyers.
Geomarketing for Building Loyalty
The customization of services along with attractive offers enhances customer loyalty and boosts sales. The key is to identify the customer journey and locate the buyers at all times of the purchase cycle. Honing these effective strategies rewards brands through loyalty towards committed point-of-sale.
Geomarketing can benefit businesses with its innovative strategy by the usage of location and demography. This caters to a targeted audience fetching high amounts of conversions and customer satisfaction. Here are five ways to leverage geomarketing to enhance conversions in your sites.
1. Know Your Audience and Focus On the Right Locations
Defining an area to reach customers can be effective, along with carving out an area that you wish to exclude. Sometimes, addressing the desired target location can be equally effective as cutting down on the higher ad rates of demanding target areas.
Look at this graphical representation that establishes this marketing strategy targeting lower-cost areas as compared to high-demanding areas.
2. Identify the Ideal Publishing Time for Your Articles
Reader engagement, bounce rates, and the number of social shares define the success rate of blog posts. Targeting the right days of the week and the best timeframe to publish write-ups can boost website content and articles to a considerable extent.
Here’s a study accumulated by Social Fresh that highlights the best day of the week and the ideal time window to go online with your content to maximize reader engagement.
These charts depict that Monday to Wednesday and the window between 8 am to 12 pm are considered ideal for attracting readers’ attention to gain success for your articles. It’s up to the content writers in your firms to maintain the quality that can connect with the reader’s intellect.
3. Offer Exclusive Discounts Based on Visitor Location
In recent times, social media activity is highly mobile-specific. The location tracking capabilities on smartphones benefit marketers to promote personalized ads on the scale. This report by Biakelsey demonstrates that almost 40 percent of mobile ads are all location-specific. This highly converting marketing strategy is sure to double up in terms of ad spends.
With the democratization of martech tools, businesses can start experimenting with location-based channels to enhance customer acquisition and retention.
Offering discounts and converting promo codes to audiences from specific locations can work great for firms looking to boost sales. In addition, leveraging several geofencing marketing software can present businesses with email addresses, contact numbers, and even IP addresses of customers.
See this in effect on coupon websites like RetailMeNot as they redirect customers to the local sites of retail merchants.
4. Focus On Point of Interest (POI) Targeting
The concept of point-of-interest targeting is pretty straightforward. Instead of chalking out a virtual perimeter around their physical store locations and focusing on customers that were already interested in your business, firms can even opt for mobile campaigns that revolve around their competitors’ brick-and-mortar stores.
For instance, a company like American Eagle Outfitters could benefit from POI targeting by sending push notifications to smartphone users within a perimeter of 100 feet from any store owned by marketplace competitors, like Fitch and Abercrombie. This research from Verve Mobile has reported geo-conquesting techniques to fetch 30 percent of higher click-through rates compared to traditional geo-fencing.
5. Decide Which Industries Can Benefit from Geomarketing Strategies
Even if it comes with its own set of perks, geomarketing is not for all, and sundry; below are some industries that can make the most out of geofencing marketing.
Utilizing geotargeting campaigns, specifically geo-conquesting, auto dealers can take great strands to surpass their competition. In addition, their high-value price tags, large retail footprints, and impressive purchase cycles urge marketers to work hard to reach out to car shoppers during the final phase of shortlisting auto dealers.
There’s heavy usage of geotargeted campaigns among tourism boards that influence travelers to mend their travel preferences based on their locations. For instance, marketers promoting tourism boards from Charleston, SC, would like to convince visitors of Savannah, GA, to come and visit their exotic locations during the following summer season.
Marketers at eCommerce chains and firms selling consumer packaged goods (CPG) can also use location-based marketing in certain challenging situations. For example, eCommerce brands, the ones with physical retail stores and entirely digital ones, seek audiences that visit competitors’ physical stores. Similarly, CPG companies that stock products in specific location-based stores can use geotargeting to good effect.
Location-based marketing with advanced geofencing technologies forms a virtual boundary that caters to consumers who cross the boundary to enter the geofenced area. It is a powerful tool that allows marketing teams to deliver their brand’s values and vision to the right customers with the right approach. Exploit the benefits, as mentioned earlier, of geomarketing to amp up sales and conversions at your business and improve the user experience of your websites.