Geo-Targeting is the latest buzzword to come out of the marketing world, and it’s becoming a game changer for businesses all over the globe. Geo-targeting is a multi-pronged approach to marketing, and it goes a little something like this:
Customer Julie has been shopping online for a new pair of shoes. She places a pair of shoes into her virtual shopping cart, but doesn’t ever purchase them (too expensive, not in season, waiting for a coupon, etc). A few days later, Customer Julie is driving through town and passes the physical store where she was browsing for shoes online. She gets an instant notification telling her she’s near the store (geo-targeting). The message is only sent out when she is within a certain proximity to the store (geo-fencing) and offers her a specific in-store deal on the product she was interested in. When Customer Julie stops in the store, her mobile application alerts the store manager (beaconing) to allow them to greet Customer Julie and give her a one of a kind customer experience.
Here’s Why Geo-Targeting Works
Geo-targeting sounds intense – because it is. However, businesses owners everywhere are seeing an increase in conversion rates because targeting their customer works. Geo-targeting works because customers are only receiving deals that are relevant to them based on purchases they’ve made or have shown interest in. Geo-fencing works because it puts a relevant boundary on when and where customers receive specific offers and messages. Finally, beaconing works because customers are given personalized, one-on-one attention that is often lost during virtual transactions.
The next biggest wave of marketing is going to be how to get products in the hands of customers faster and more efficiently. The best way to do that is to give consumers personal attention in ways that are convenient to them. As consumers, we are using our mobile devices to make purchases now more than ever. According to this report, the average smart phone users downloads around three apps per month, which means that the rate at which we are devouring information via smart phones will only increase. In other words, if your business isn’t utilizing the latest technology to implement the most cutting edge marketing trends than you’re probably getting left in the dust.
Geo-targeting is just getting off the ground, and already making a big splash. It is important to take advantage of this technology in ways the respect and honor the consumer, while putting the products and services they want into their hands quickly. We will be talking more about geo-targeting and geo-fencing in future blog posts, so stay tuned for more!