The Fundamentals of Geo Fencing
What is Geo Fencing?
Geo Fencing, also spelled geofencing, is a way of making a geographical boundary for targeting your advertising and marketing. This means that a business can separate a specific area to directly target for marketing. Geo Fencing is a valuable tool that can be used in a variety of different ways to direct traffic to a business or promote branding.
Geo Fencing and Your Marketing Goals
GEO fencing is a crucial marketing technique for driving more traffic to your local business. New innovations in location-based technology are making it easier than ever for small business to connect with the world around them. The right geofencing tools can propel your business to the next level.
How Does Geo Fencing work?
Geo Fencing Technology
Geo Fencing technology uses many different location-based platforms and services. Cellular data, GPS, Wi-Fi, and other tactics can help set a virtual boundary around a set area or geographical location. This set area or location is called a Geo Fence. Once set up, the geofenced area can target customers or potential customers for a variety of different purposes. Within the geofence area, customers can receive things such as push notifications or social media targeted advertisements. This marketing tools can also be used to collect data and to get a better understanding of the traffic that is visiting the geofenced area. A geofence is most commonly utilized within an app such as when an app requests for you to use their location services. This could also be used if a retailer set up alerts for users that have downloaded the retailer's specific app. Geo Fencing can be used for a variety of different purposes to suit the needs of any given business and can go beyond being simply a marketing tool.
Going Mobile With Geo Fencing Techniques
Reach Powerful Channels of Advertising
Geofencing has been proven to encourage the collection of more valuable data that can lead to even more productive advertising tactics. In fact, geofencing can reach a more direct and correct audience in order to lead to the largest return on investment. Geofencing can promote a large number of leads close to a business's geographic location and make sure that the right audience is being directed or targeted for advertising.
Who Can Benefit From Geo Fencing?
Utilizing Geo Fencing
The technology related to geofencing is adaptable and can be used for many different purposes. As a marketing tool, geofencing can be used to target users as they visit a specific location or even as they leave any given location. For example, a personal injury attorney might use geofencing to target clients that are at an emergency room or hospital. In another instance, a car dealership might target individuals as they arrive at another car dealership. As a marketing tool, geofencing can successfully boost engagement exponentially by targeting the right demographic groups.
Geo Fencing Costs & ROI Analysis
How Much Does Geo Fencing Typically Cost?
Geofencing can be adapted to meet the needs of an individual's budget or financial constraints. This makes geofencing an adaptable means of advertising and useful technology for a variety of different individuals and industries. Pricing for geofencing is a broad range. However, it is most frequently based off of CPM. CPM means "Cost Per Impressions". Trying to decipher a geofencing quote? $10.00 per CPM would be that the cost would be $10 for 1,000 impressions. This makes it easy to adjust the cost of geofencing to accommodate a budget. Another way to price geofencing is creating a static advertisement or a video advertisement. These advertisements are often somewhat more expensive. However, it is clear that geofencing is an adjustable advertising method that can accommodate a variety of different purposes.
What is the ROI from Geo Fencing?
ROI stands for return on investment. In terms of geofencing, this tactic often reaches a high ROI because geofencing is able to create targeted campaigns which are directed towards the most important users or clients possible. With geofencing, it is easy for a business to create valuable leads with the best clients possible. These tactics ensure that clients are close to your local region or are most interested in your business.