Drive More Customers to Your Local Business Using Addressable Geofencing
Most local businesses have a very specific customer base: the people who live and work near them.
Local businesses don’t need marketing that reaches the masses. They need local marketing that reaches the people spending time around their business. They need addressable geofencing.
What Is Geofencing?
Before we dive into what addressable geofencing is, let’s start by looking at geofencing as a whole.
Geofencing is a type of location-based marketing tactic that targets customers based on where they are. It identifies a location where ideal customers spend time and presents ads to people when they go in and out of that location. It does this by drawing virtual boundaries -- known as a geofence -- around specific locations and identifying people as they enter or exit the fenced area.
Learn More: Geofencing Marketing: A Complete Guide to Building an Effective Strategy
What Is Addressable Geofencing?
Addressable geofencing is a specific type of geofencing advertising which uses addresses to create geofences. Businesses identify specific addresses where they know their customers spend time and set up geofences around those locations. Addressable geofencing can target addresses of households, businesses, or any other place where customers are likely to visit.
What Are The Benefits of Addressable Geofencing?
Addressable geofencing removes many of the barriers that make marketing difficult. It makes it easier to identify an ideal audience, reach them with targeted messaging, and monitor and optimize the results of the campaign.
Benefits of addressable geofencing include:
- Using precision targeting and pin-point accuracy to reach customers.
- Avoiding IP address issues by targeting audiences through physical addresses.
- Ability to scale campaigns to reach thousands of customers.
- Getting real, measurable results that clearly show ROI.
- Presenting highly targeted ad creative based on customer interest.
- Presenting ads across a variety of devices.
- Collecting data and building a powerful customer database.
- Optimizing campaigns to reproduce campaigns that work and discontinue campaigns that don’t.
How Does Addressable Geofencing Work?
Addressable geofencing comes with a variety of benefits that make it a good option for small and local businesses. One of the primary benefits is that the campaigns are easy to set up and manage.
To launch an addressable geofencing campaign:
Step #1: Identify the addresses (and audience) you want to target.
Start by identifying the customers you want to reach. Where do they spend time? Where are they when they are most likely to be interested in your business?
Then, consider what information you have in your customer data platform. Do you have addresses for your most loyal customers?
Upload the addresses you have and the addresses you want to target.
Step #2: Design targeted ad creative.
Once you know who you want to target, decide what you want to say to them.
Use audience segmentation to break your database into smaller sections and create campaigns that will resonate most with them. For example, a restaurant may want to target customers who haven’t visited in more than three months with “we miss you” messaging.
Identify single campaigns, such as a one-time offer or happy hour special reminder.
Also think about how you can use your addressable geofencing campaigns to cross-promote your other campaigns. To cross-promote campaigns, consider the offers you are already putting in front of your audience and reinforce that program with your geofencing messaging. For example, if you are running Facebook ads to re-engage customers who have visited in the last month, pair it with a geofence ad that reinforces the messaging and offer.
Related: 7 Audience Segmentation Examples and How to Use Them
Step #3: Deliver ads to your audience.
Once your addresses are defined and your ads are created, begin delivering ads to your audience. Ads can be displayed to your audience in a variety of ways.
Target audiences within your geofence may see ads on their mobile devices, tablets, or even their television screens. Ads may appear as:
- Display ads and native content ads on website and in-apps
- Video ads that appear before video content online
- Video ads that appear before programming on streaming platforms and connected TV (CTV)
Step #4: Receive performance reports.
Once your campaigns are running, you will begin to receive performance reports that show the results of your ads. Performance reports track:
- Impressions
- Click-through-rates
- Clicks
- And, most importantly, conversions
Conversions are often difficult to track with display advertising, but geofencing makes it possible to track who sees your ad and takes action. By setting up conversion zones around your business, you can track the customers who saw your ad and then entered your building, making ROI much easier to monitor and measure.
Step #5: Optimize campaigns.
Once you gain data from your campaigns, you can use what you learn to optimize campaigns and produce even higher returns. Look at your campaigns results and identify ways to:
- Adjust your audience
- Adjust you messaging
- Optimize frequency and times
Addressable geofencing is a type of programmatic advertising, which means it can automate the process of setting up and optimizing campaigns. Use what you learn to set up even more powerful campaigns, and consider how you can automate some of the process using data from your other systems. Use marketing automation to segment audiences and trigger campaigns based on customer engagement and activity.
Related: How Effective Is Geofencing? 3 Examples of Real Campaign ROI
How to Get Started with Addressable Geofencing
To launch addressable geofencing campaigns, you need a platform for setting up your audiences, delivering ads, and managing your campaigns. MyArea Network is proud to work with an addressable geofencing platform partner so we can provide access to this powerful location-based marketing tactic.
If you are interested in launching addressable geofencing campaigns, sign up to create a free mySuite account. Within your account, you get access to tools that help you launch geofencing campaigns.
If you want someone to walk you through the process, we can do that too! Get a free consultation with our team to find out how we can help you start using addressable geofencing to drive more customers to your local business.
