A Fence to Reach Out

Retail store owners' wish throughout the day is to get the right customers to walk in through the doors, with an idea of what to expect on the shelves. What better way than Geofencing to bring them in. Geofence marketing is a form of location-based marketing where a Geographic boundary is placed around a point of interest. As soon as a mobile device enters the area several marketing communications or events could be set up. Earlier it was done through SMS but now being done through Push Notifications.?

According to the latest studies done for the industry, Geofencing Marketing is forecast to reach $2.3 billion by 2025, after growing at a CAGR of 22.4% between 2020 and 2025.?

Geofence marketing is evolving from mere location-based advertising and moving towards identifying and building large audiences. Surveys can be conducted post purchases to understand the perceptions and also enhance the quality of in-store experiences. Stealthily you can also identify the customers who go to competitor outlets and you could influence behaviour by offering them better offers. Such campaigns are referred to as Geo conquesting. You can also retarget customers who have visited a specific location or have engaged in your various campaigns.?

Los Angeles Airport once banned Uber and Lyft from curbside pick-up. Uber used Geofencing to get around the problem. It sent a notification as soon as a person gets down from the airport. All the traveller has to do is to walk to an area around the airport where Uber is available.?

Burger King best used Geoconquesting by offering users burgers at just 1 cent with a rider. The user had to download the Burger King app and order the BK burger from its rival Mcdonald's restaurant. Starbucks has been using Geofencing by sending push notifications during happy hours when the prices are down to all those in the vicinity. Geofencing is also used by Starbucks to segment its customers into cappuccino drinkers or Frappuccino drinkers. Companies can market their events and conferences, especially in new places using Geofencing technologies.?

Geofencing marketing should try and connect with the local audience by understanding their lifestyles, tastes and preferences. The content used for marketing has to be precisely aimed at a specific consumer base. Marketing campaigns should be tied up with limited period offers to entice people into brick-and-mortar stores. Google ad words platforms allow you to run effective Geofencing campaigns at a very low cost. Ensure that the size of the Geofence is not too large as it might reduce the chances of footfalls in the store. Small and big businesses should explore Geofencing as a tool to reach out and connect meaningfully with the local market.?

This is a guest post by Nitin Suresh. He works as a brand strategist with a leading media firm and is a product developer and researcher. He is also a poet at heart, a passionate quizmaster and a freelance writer.???