7 Incredible Benefits of Geofencing Advertising

Are you up to date with the latest technology available for you to market your business?

If you aren’t, you’re missing out. Geofencing can add to your bottom line.

The geofencing industry is growing every year. In fact, experts expect it to reach a market value of $1.7 billion by 2024.

But how can it help your business? You will learn that in this post.

Keep reading to learn seven benefits of geofencing advertising that can help your business.

1. Learn Where Your Customers Are

People are spending more time than ever on their phones. If they are out and about, what do you think they are doing?

They could be looking for where to go next. Geofencing allows you to target specific locations. When advertising in a particular area performs better, you know where your target customers are.

2. Stay Local

It’s hard to grab a potential customer’s attention when they are sitting at a computer and aren’t planning to head to your business.

With geofencing, you are targeting people who are already out and close. Local reach leads to a higher probability of a potential customer stopping by your business.

3. Targeted Advertising

When you are appealing to a broader audience, you have to change your message. You can’t personalize as much.

When you start to narrow down your audience, you can change it to appeal more to that demographic. You can provide exclusive deals to these demographics to get them in your business easier.

4. Better Ad Tracking

It’s hard to determine ROI for brick and motor businesses with online ads. You don’t know for sure if an uptick in foot traffic is the result of a promotion or if it was only a good day.

Geofencing analytics tells you all these. You will know if a customer went to your store after viewing your ad. This lets you optimize your ads to get better value from your ad spend.

5. See What Your Customers Are Doing

Do you have a way to see how long your customer’s stay in your store? How about the foot traffic outside your business? It helps to know these things.

With geofencing technology, you can monitor data points you couldn’t before.

6. Many Services Available

While geofencing technology is still new, there are a lot of advertising platforms that can provide you service.

For instance, this marketing firm provides one of the best platforms for setting up and running advertising campaigns.

7. Send Ads to Apps or Directly to Customers

You have a lot of options available for you if you want to interact with your customers.

If you are looking for new customers, you can run ads in thousands of applications that sell ad space.

If you make use of SMS messages and a customer opts into messaging, you can send deals to customers when they get close to your store to bring old customers back.

Benefits of Geofencing Advertising: Final Thoughts

You need to keep up with the rapidly changing digital world. Now that you know the benefits of geofencing advertising, you can start to take advantage of it to drive people to your business.

There are a lot of networks out there to help, so make sure you find the one that works best for your business.

Are you looking for more small business tips? Head over to our blog to find more posts!

Adam Hansen

Adam is a part time journalist, entrepreneur, investor and father.