Going for the very first time at a particular place, but don’t know what and where to explore? But just think about an option that will provide you with each and every piece of information about the surroundings. Here let us all welcome geofencing marketing.
What Is Geofencing Marketing?
Geofencing marketing or location-based marketing in simple terms is the location-based marketing in which a geographical boundary is placed. As you will enter any given location, you will get the whole information about that area. During the initial stage, SMS service was used, but now instead of that push notifications are used.
Initial Stage Of Geofencing
Child security was the basic and major reason behind the launch of geofencing marketing.
For all those parents that were working and had to leave their child alone at home or without any domestic help, geofencing became a boon for them. Thus it became a kind of surveillance equipment for the parents.
Evolution Into Geofencing Marketing
As time changed, technology also underwent a drastic change. This advancement was also visible in geofencing. In the year 2015 Whole Foods in partnership with Thinknear introduced geofencing marketing.
How does Geofencing Marketing work?
There are simple three steps on which geofencing marketing is based and operates. These are as follows:
Identifying Geographical Location
The foremost step in geofencing marketing is to identify the geographical radius in which a person has entered. It is the location only. The terrestrial radius is simply the live location. It also refers to the real-time location.
In basic terms, it is a limit that you apply to geofencing. Set the virtual barrier as per your ease and comfort. The limit is fixed by the advertiser himself.
It becomes much easier for a business to trigger any particular event via the use of geofencing marketing. This takes place via push notifications.
Business And Geofencing Marketing
Now here is the basic point why a business requires geofencing marketing. Here we are highlighting some of the primary reasons:
1. Targeting The Audience
With the use of geofencing marketing, an advertiser is able to target a large group audience. Hence, it would be right to call it a mass marketing approach. Moreover, geofencing works on the virtual barrier. As soon as a person enters the barrier, a notification is sent. There are many chances that he will become your potential customer.
2. Attract More People
The attraction can be increased with ease. New, as well as existing customers, can be notified with the use of geofencing marketing. This strategy is referred to as retargeting. Therefore, you can easily retarget old customers too. Thus, you can easily attract and appeal to new customers.
3. Business Expansion
With geofencing marketing, a business can easily expand itself, moreover, awareness is also increased. By the use of this, the brand visibility expands a lot. This helps more people to connect. This expansion becomes much easier for a business.
The time aspect is something we cannot ignore. There is no delay in the content offering. With the use of geofencing marketing, it is way easier to promote the products. One can also promote limited-time offers. Considering the aspect of timeliness, geofencing is really important.
With this, we mean that it becomes easier for a business to attract more locals. These are simply the people who are already at that particular location or the area where your business is established. Thus it will be much easier for you as a company to attract more local people.
By applying geofencing marketing, these are the benefits that your company can derive. From a business viewpoint, it is really important.
Either small or large organizations, both can use geofencing marketing. Considering a small-scale organization, they will very much be benefited from the use of this technology, as they can easily reach a large base of customers easily. The large scale businesses, on the other hand, can also derive benefits from the use of geofencing marketing. It will be easier for them to expand themselves.
All those companies that are dealing in the financial sector like financial institutions can also opt for this. With geofencing marketing, they can easily locate the location of their potential customers and can easily send them updates and various other information as well as offers.
Alerts And Applications
In order to alert a person about your company or your brand, you need to notify them, so that they turn into potential customers. Here is what you can do
- You can promote or advertise yourself on any of the social media platforms that they are using.
- Text messages never go out of style.
- In-app notifications are in trend too.
The abovementioned are some of the things that can be done to notify people. Marketing, audience engagement, and social networking are the best applications to use for geofencing. As all of them have a mass appeal and integrating it with marketing will be very beneficial for the company.
The Other Side
As we all know each coin has two sides, the same goes with the geofencing market too. Here are some of the points that are the cons of geofencing:
Maintaining a record of all the activities that too of so many individuals is a tiresome and tedious activity. So one has to face some of the problems with the geofencing marketing technology, due to which they have to abandon it.
- Privacy Suffers
However the geofencing marketing uses your location, and it can raise some the privacy concerns too. However many people are not comfortable sharing their location with a third party. Hence this is a major hindrance to the progress of geofencing.
- Battery Life
With the use of geofencing, the battery life of mobile phones suffers a lot. It is also recommended to switch off the location so that the battery may not drain. As the location is the basis of the whole geofencing process. If it is turned off, then it is not possible to do geofencing marketing. Hence for more information, you can contact Cyber Dolphins Pvt Ltd.