In our latest Multi-Channel series blog, we will look at Location Technology and how it will help brands engage their users at the right time, with the right message in the right location.
What is Location Technology?
Now we are not talking about your Satellite Navigation, but we are talking about location technology which drives app engagement with contextual location-based app notifications to your app users. Brands can utilize location technology to engage their users in the right location resulting in increased footfall and a personalized brand experience.
There are two types of location technology that you can harness for your marketing.
Geofencing is a marketing technology that identifies when users enter the brands targeted locations and enable brands to send targeted messages to their users in the specific geographic area
Beacons are a piece of hardware that can be placed in particular locations. Beacons use Bluetooth to estimate your proximity to the device, and when close to the device a signal is triggered.
How can enterprises benefit from Location Targeting?
This technology isn’t for every organization, but if you have an app and have locations that you can target, then this is a tool you really should be exploring and utilizing.
A number of sectors can utilize Location Technology include; Retail Banks, Retail Stores, Sports Clubs, Airlines, Airports and Sports Betting companies.
For the Banking sector, a bank can promote their rewards programme. For example, if your bank offers rewards for shopping with a supermarket, the bank can geofence the participating stores and set-up an event triggered campaign where the user receives a notification upon entering the location. Or if a bank customer drops off an online application and are regular branch users, you can trigger a re-engagement campaign upon entering the branch to complete the application or to speak to an advisor in branch.
In the retail industry, stores can geofence their locations and engage users with special offers upon entering a location. This will increase footfall in the store and drive revenue. Retailers could set up geolocation fences up around all of your stores that will push special offers to your app users who visit in-store to make a purchase.
As with all engagement, brands want to manage the frequency of messages sent to users.
With location technology, campaigns can be triggered by entry or exit of a location or dwell time in a location. Brands can also manage how many times a user receives the message upon entering or exiting a location. For example, if you enter and exit a store 5 times in one day you will only receive a message the first time.
Using a location technology can also provide you with powerful analytics. For example, a bank could use ‘geofencing’ to gain valuable analytics and insights. Geofences could be placed around car dealerships, housing developments etc. and used to collect visit data on an individual when they enter the proximity of a dealership or development. This data could then be applied to a banks propensity model for loans or mortgages. Additionally, understanding the frequency of visit could help with the communication strategy when thinking about who to target, with which message.
In the latest Xtremepush case study from TBC Bank, discover how a retail bank utilize location technology to engage their users, build their reward programme and reward loyal customers.