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Chapter 1 – Being Able To Geofence Not Enough
Geofencing marketing equips advertisers with a more precise digital weapon to target people in incredibly hyperlocal areas, meaning individual homes, buildings, events, trade shows, retailers, convention centers, and most importantly your direct competitors. Marketers and enterprises now have a powerful tool allowing them to maximize ad dollars and focus on reaching just those people who are most likely to be your potential customer or care about what you have to say.
At Propellant Media, we like to say that location can indicate a user's buying intent. Physical location illuminates clues as to whether consumers are in the market looking to make a purchase or if the user fits a certain demographic. As an example, a patient at an ER center could need a personal injury lawyer because they may have gotten into a car accident. A consumer at a competitor car dealership can be in the market looking to buy a car. These are both great examples of locations indicating a buyer's purchase intent. But all too often new advertisers contact us knowing these simplified examples were executed by other agencies, yet the results were meager or non-existing at best, in part because everyone collectively didn't build out the proper strategy that would translate into fruitful results.
With understanding the various aspects of geofencing and how it works, let us first say that it's not enough to simply geofence locations. The capability of geofencing won't yield results unless you understand how to use it. A recipe is no good unless you understand the proper ingredients, cooking times, and presentation of the dish. And similarly a geofencing tactic is NO GOOD unless you understand how to develop the proper strategy to build it off of. Execution is 30% of the battle with geofencing, something many geofencing providers do not discuss. The other 70% deals with strategy and optimizations of the strategic geofencing plan.
Strategy matters more than the execution of geofencing campaigns because without a well thought out strategy that takes into account the customer journey, you're prone to build less than effective geofencing and programmatic display campaigns. With over 20 geofencing providers and more companies sure to hit the market demanding $10,000 – $20,000/month minimum spends, developing a strategic game plan starts with understanding your customer's buyer journey and your organization's core objectives.
So what is your core objective? Is it to drive foot traffic to your store front? Get more phone calls? Maybe it's a bit more complicated and you want to simply increase brand awareness for an event you're promoting? Maybe you have a strategic partnership with another organization and you have a few different objectives that need to match up with the existing Google Adwords, SEO, and offline marketing you're doing. Whatever your core objective may be, the geofencing marketing starts with understanding your NorthStar. From there, we can build out the ingredients that fit the ideal recipe for your organization, not someone else's recipe, but your recipe.