Better Advertising Targeting the Ideal Target
Advertisers try to find the perfect marketing solution that will singularly grow their business. Geofencing is one of the new kids on the block in the digital marketing world. Despite being around for the past 10 years, marketers have not had access to utilizing geofencing for hyperlocal marketing purposes until recently. And it was mainly the larger brands and companies that could afford the required $20,000/month+ spend levels.
The sheer fact that companies can now market to people in precise areas and target users on their mobile devices gives advertisers more marketing reach, more focus with their ad spend, and precise ways to measure their results. Our hope is this gives a comprehensive overview of geofencing, the many uses of it. How to build out the proper geofencing strategy, and companies you can consider for any geofencing marketing needs.
Advertisers can place a digital geofence directly around the building or location you want to target. and begin capturing the mobile device ids of people who walk inside that geofence. You then can serve ads to those individuals while they are there at the location and also for up to 30 days after they leave the geofence. a user does not need to be looking at a mobile app for us to capture their mobile device ID.
They just need to have their phone turned on and their location services turned on to be able to capture their mobile device ID.
Beacons transmit small amounts of data via Bluetooth Low Energy up to 50 -100 meters, and as a result are often used for indoor location technology, although beacons can be used outside as well.
But beacons also have their advantages as well
NEARBY MOBILE PUSH NOTIFICATIONS -Many people like the idea of sending a push notification to people. So, the nearby SMS phenomenon is truly a notification that says to someone they are nearby a particular store and retail location with a message custom-tailored to them. LESS EXPENSIVE THAN GEOFENCING -Beacons are not traditionally too expensive to install and implement.
THE BENEFITS OF GEOFENCING
Many people misperceive geofencing as 1-mile radius targeting or even 1-block targeting. Facebook claims to have a radius targeting solution down to 1 mile, but in our mind that is nota true geofence. A geofence is a virtual fence placed around the precise area or down to the contours of a building, which is what our platform at Propellant Media does. Consider how much more efficient you can get when you are targeting specific buildings and areas for a company versus a 1-mile or 2-mile radius of the location you want to target.
With geofencing, you can build individual virtual fences around particular locations where you know your ideal clients frequently.
Stronger Engagement Possibilities
The upside to geofencing is you are truly getting your message in front of the audience that matters the most to your brand based on their physical activities and the places they go. That campaign is probably one of our strongest campaigns engagement-wise because of the passionate audience and how granularly we got with the campaign. Geofencing does produce higher engagement if you focus on your targeted audience.
Geofencing Does NOT Require Physical Beacons
With geofencing, you only need to know the locations you want to target as well as the creative ads to upload before launching a geofencing.
OA virtual geo-fence is traced around an area where the advertiser wants to target customers visiting another location
When the customer enters the Conversion Zone with their mobile device and has previously been served the advertiser’s ad, the Conversion Zone recognizes the user and attributes their visit as an offline conversion for the geofencing campaign.
So not only can you measure foot traffic to your location, you can calculate your percentage increase in foot traffic as a result of people seeing your ads versus those who did not.
Track consumers who saw your ads and then visited your store
With our geofencing technology, we can now track the number of people who saw your ads and then actually visited your storefront. COST IMPLICATIONS OF GEOFENCING it’s important to understand the costs and prices for geofencing because they truly vary across different providers that are offering geofencing solutions. At Propellant Media, we peg ourselves as an ad agency offering enterprise-level solutions to small to midsize companies. An impression is when an Ad via a mobile app or website passes your line of sight or purview … similar to you driving pasta billboard or listening to a radio spot… .those count as impressions.
We typically see wide ranges in CPM charges for static ads that are utilized for geofencing. We’ve seen personal injury attorneys and medical groups perform well with video ads because of how engaging they can be to their target audience. Don’t be shy to mix in both static ads and video ads into your geofencing strategy either. Video may be slightly more expensive, but it will also yield more engagement and a stronger audience to pull into your brand.
Geofencing Marketing Campaign Minimums
Fi require a minimum of $10,000 -$20,000/month, however they do offer the best platform for programmatic display and geofencing with their unstructured data technology.
Charges Based On Number Of Geofences
So if you get people trying to charge for additional geofences, be sure to ask what other concessions you can get if they do plan on charging per geofence.
What Else Am I Getting?
Propellant Media is managed services and we handle all client execution and campaign building for both direct clients and white label geofencing partners.
Geofencing For Attorneys & Lawyers
an ER center, a car dealership, a car repair location, or a towing location after they’ve been in an accident. Attorneys can win with geofencing by thinking about where their potential clients end up after an accident or a particular event in their life. An example is Google Ads, which can be far too expensive for some personal injury attorneys. Whereas geofencing for attorneys, the cost per click can be $5 -$10/click depending on how effective your ad copy is and the locations you’re geofencing.
Geofencing For Medical Practices
We see medical systems, dentists, plastic surgeons, and orthodontists mainly geofencing their competitors as you know those are places where your intent-based clientele are likely to be in the market needing their medical services.
Geofencing For Trade Shows, Conferences & Events
You can geofence Mercedes Benz Superdome in New Orleans during the weekend of the conference. Anybody that goes inside the Superdome, we now have the mobile device I. as well as after they leave the event. Geofencing can be used in a lot of different situations for events whether it be festivals, parades, conferences, sporting events, and stadiums. The sky is the Unit with event targeting.
Retailers, Franchises & Restaurants Using Geofencing
If you’re a boutique clothing store, you could geofence nearby boutiques and also nearby malls while also building a conversion zone around your storefront so you can measure the number of people who saw your ads and then came back to your storefront.