Examples Of How A Business Can Make Use Of Geofencing

Geofencing opens up a huge world of opportunity for business owners. Especially since 70% of US adults have a smartphone—and over 90% of those smartphones are compatible with geofencing marketing and advertising.

Location-Based Marketing

Location-based marketing uses a business location to entice customers with location-based ads, sales, and promotions.

For example, you might send customers a notification that you’re giving a discount as they walk by your place of business.

Taco Bell increased its annual sales by 6 percent by using location-based advertising.

Customer Retention

A recent Bain and Co. study showed that retaining just 5% of your customers can earn you as much as a 95% increase in profits. So, in a digital world, where consumers expect excellent experience and superior customer support—customer retention is key.

Geofencing can help you create loyal fans out of your customers by showing repeat customers some extra love.

For example, you might show more discounts to loyal customers when they re-enter your store with a simple message, “Thanks for coming back!” or something similar.

Customer Service

In today’s digital world, customer service can make or break a business. With millennials, more than half of them are willing to dump a business for poor customer service.

With geofencing, you can let your customers know that you’re readily available to them—and willing to help if they need it. For example, you might send a notification to shoppers that there are two checkout locations within your retail store, one downstairs and one upstairs—that way, they don’t have to wait in a long line thinking there’s only one checkout.

Social Media

Your customers are likely on social media several times per day. And, that means it’s likely they might check their social feeds while they’re in your store.

Why not encourage them to engage with your brand on social media? With geofencing, you might show them an ad where they can click-through to your Instagram profile or Facebook page.

Take Advantage of the Power of  Geofencing Today

Geofencing is undoubtedly the next big thing in digital advertising. With the decrease in click-through rates and subsequent decrease in the effectiveness of traditional digital advertising methods, it’s important that business owners get started quickly so that they can take advantage of the many benefits offered to them—and their customers—through geofencing.

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