Have you heard of geofencing? This mobile display advertising tactic allows you to target users who enter a specific area around a location like your business or your competitor’s business and show your ad on their mobile device.
Here are three ways to make geofencing work for your business.
1. Target Your Competitors’ Customers
Say your potential customers frequent one of your competitor’s locations. With geofence advertising, you can set up an invisible “fence” around your competitors’ locations and target their customers with an ad that contains a special offer to drive them to your location instead. So, as a prospect near your competitor’s business is playing on his phone, he sees an ad for your business offering 20% off a purchase. Since that user already has a regular interest in purchasing the product or service you offer, chances are high that the prospect will make their purchase at your location, with a special offer, instead.
2. Target People Near Your Business’ Location
Using geofencing to target a large radius around your own location is an effective way to grow awareness for your business and drive more in-person visits. For example, if you open a floral shop in a new neighborhood, you can target people living or visiting within 20 miles of your storefront and reach them with a mobile ad that lets them know about your new business and provides a special offer for a first-time purchase. By targeting consumers who live, work, or play near your business, and letting them know what you offer, you can start to grow traffic and sales.
3. Target Patrons of Other Relevant Businesses
In addition to targeting your competitors and your own business location, you can also use geofencing to target relevant businesses. For example, if you are an insurance agent, you may target a nearby car dealership or apartment complex so new car owners or new renters can see your ads and call you for their insurance needs. Think about businesses that may complement yours and target their customers to drive more new customers to your business.