Are you losing a considerable number of customers to your competition? Sometimes, competition is so tight that traditional advertising campaigns aren’t enough.
Geofencing is a location-based marketing strategy. In the most basic sense, you target prospective customers within a specific area, usually near your brick-and-mortar store’s location.
There are several commercial and residential areas that you can “fence” in including:
This is possible through the use of the geolocation function in mobile devices and GPS technology. Users don’t even notice that they are leaving or entering a geofence. The only indication of geofencing targeting users can receive is through the highly targeted ads they receive from establishments.
Competitor geofencing advertising or geo-conquesting takes geofencing a step further by targeting your competitor’s prospect or even frequent customers. Businesses that leverage this advertising strategy include:
Even in digital advertising, casting your net wide produces results that are far from what you desired. You need to cast on the right location and on the right audience. Audience targeting is basically science and with geofencing advertising, it becomes more precise. The more accurate your targeting, the more qualified leads you to bring in to your storefront.
This strategy may sound aggressive but it’s not as simple as snatching customers from your competitor’s grasp. Advertising strategy matters. You and your competitor are basically competing for the same customer. You still need to give your prospective customers a better deal and product promotion.
Customers prefer a personalized approach to advertising. Advertisements often receive a bad rap for being disruptive and irrelevant. Competitor geofencing will change that for your campaigns. It will enable you to deliver well-timed and relevant ads that prospective customers actually want to click.
You’re going to reap multiple benefits at once that is if your competitive geofencing campaigns receive proper planning, targeting, and execution. Geofencing is a very competitive marketing strategy that provides results at the get-go.
Competitive geofencing is more than just hyper-targeting. It’s an outreach strategy that introduces your brand to people that may not know about its existence. It’s also an engagement strategy that reminds people that you are out there, and you have an offer that’s difficult to refuse. These personalized advertisements make people feel that you value them as customers, creating customer loyalty.
You don’t need to worry about geofencing compromising your other digital marketing strategies. Geofencing doesn’t only work well, it actually improves the effectiveness of several digital marketing strategies the most prominent being PPC advertising and SEO.
Get ahead of the competition by equipping yourself with our competitive geofencing features:
There are several approaches to one problem. We at Lounge Lizard won’t just take one approach and hopes that it works. We study each side of the problem and solve it in innovative and proactive approaches.
In the face of tight competition, Lounge Lizard offers solutions and strategies that keep on giving. Make the most out of our suite of digital marketing, and web design services to not only get ahead of your competition but support the growth of all aspects of your business.
We recommend the following services to augment your competitive geofencing advertising strategies:
