business, technology, cell phone

Top 5 Competitive Advantages of Geofencing for 2021

" Defining your target market or niche, is the single most important business decision you can make as an entrepreneur."
Saskia Gregory

As our team at Crestone DMS closes the books on 2020 and we look forward to fresh new world in 2021 – we are encouraged and energized by the competitive advantages that we more available to emerging brands, entrepreneurs and small business owners – than every before!

social media, social, keyboardWe wanted to start the new year with 2021 update to understanding how to better use (or if you are new to it – how to get started with…) geofencing to build new relationships for your business this year and for years to come…. 

Again, we are lucky to have this opportunity to share this article originally published by our partners with our Adcellerant Content Team on December 8, 2020.

What is Geo-fencing?

Geo-fencing is about “fencing-in” targeted consumers in a particular location and using these mobile device ID numbers to obtain data (such as their income levels, consumer activities, personal preferences, etc.) From the data, companies can further refine their ad campaigns.

human, observer, exhibitionWhen a targeted consumer enters a competitor’s store, they will get ads showing your products/services and how they compare in terms of cost and quality. This platform expounds on competitive “conquesting,” and it’s a significant benefit of geo-fencing.

Geo-fencing Creates Opportunity for Business Marketing Efforts

With a significant amount of internet traffic going through mobile devices, firms are clamoring to adopt this new marketing channel and take advantage of its benefits. But, how does it work for a business? By using the system to roll out attractive and scalable options, firms aim to add more rewards to the consumers. Apart from that, the tool is put right at the palm of the shoppers.

How Device Targeting ID Mobile Apps Work

Geo-fencing/location-based mobile apps aim to boost business expansion efforts. If a merchant knows where a customer is, it is possible for them to push offers unique to their location. Sellers promote their customized services/client-favorable offers through GPS-enabled devices. However, this can only apply within a designated geographical area. Such initiatives increase the amount of traffic into a store, fostering sales, and creating awareness around a service or product.

How Can a Business Leverage the Benefits of the Device ID

The geo-fencing application utilizes GPS technology advancements in mobile phones and other smart devices and delivers messages that are relevant to target consumers.

office, meeting, business partnersUltimately, a business can do location-specific advertising, disseminating the messages through customers’ smart devices based on locality at a given time.

Not only are location-based applications beneficial to vendors/merchants, but they also offer convenience in availing critical emergency services through related medical service providers. 

Does it Infringe on a Customers Rights

So, does a customer receiving automatic message prompts whenever they enter a specified designated location? No, unless the person has signed-in to receive the information. On the other hand, the target group can only get messages from merchants that have a geo-fence.

Part of the appeal of MicroProximity targeting is that it works in both directions. Merchants can offer real-time and applicable information to shoppers that are within their geographical zones.

Even so, the prospective client has to be willing to receive the information/incentives or any other contextual adverts based on the customer’s location.

Given it is in the customer’s control to select the location-based messages they wish to receive, they can, therefore, decide which ones appeal to them and make informed choices.

Other Uses of Device ID in Real-Estate

Geo-fences can also work in creating awareness. In the real estate industry, they can disseminate information about available investment opportunities. Besides its application in routing visitors around street closures, it can also be used to communicate changes to residents.

Adding geo-fencing functionalities to your business growth agenda will ensure you have a powerful and effective platform to engage your customers on their terms. What does this do for a business? Effectively, it helps a firm develop a tighter connection with its clientele.

As more businesses come to realize the allure of text message marketing, the platforms continue to improve. Conversely, this favors more innovative technologies that can entice customers into purchasing from a business.

So, as you can see, all that rightly placed fences do is make excellent customers. Marketing doesn’t have to be complicated or overly expensive to help you grow your business.

light bulb, current, light
"Innovation is change that unlocks new value." Jamie Notter

If you are interesting in learning more about this topic and how it may be able to help grow your business this year – let us know – visit Crestone DMS today to learn more. 

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