Geofencing – Targeting Businesses
Geofencing is a technology, which describes a virtual limit around a geographic location. As in the radius around a mine site or a workplace, a geofence may be dynamically generated; or can be a predefined set of limits (i.e., school areas and neighborhood boundaries).
Geofencing is an essential component of the hardware and software in the Vehicle Management System (IVMS), which is also known as GPS tracking or Telematics. It enables system users to draw zones around workplaces, customer sites, and high-risk, hazardous, or safe regions. Geofencing can be a useful tool.
Examples of circumstances in which it can be used include:
- Mark ‘ no – go ‘ areas formally
Example: Can be used to guarantee that staff avoids building areas or environmentally protected areas.
- Create speed awareness
Example: Speed constraints can be linked to specific fields, such as a college or workplace.
- Block high risk/dangerous areas
Example: Aids employees in avoiding unsafe areas such as a train line or explosive area at a mine site.
Geofencing marketing
Geofencing marketing is a type of location-based marketing that enables you to connect to smartphone consumers in a specific geographic area, such as a store, through mobile apps or mobile websites. Geofencing, as a location-based technology, is based on various technologies, including Wi-Fi, GPS, RFID, and Bluetooth.
Below are some examples of how companies can use geofencing to develop the full capacity of geofencing marketing and to enhance their digital marketing initiatives:
- A retail shop could generate a simple geophysical place in a nearby region
- A car dealer can set up a geofence to target people who leave a competitor following their car browsing.
Artists, artists, and executives could also build geofences in advance around the different tour stops
Benefits of geofencing
Let us now look at three benefits of geofencing:
- IT INCREASES SHOPPER’S LOYALTY
Gaining fresh client expenses ten times more than retaining a current client. That is why building shopper loyalty in today’s market is so critical. Geofencing marketing or advertising can assist your business, do that — and without any promotions or discounts. Users instead speak about what your company has done better than your rival has. Why? Imagine you shared an appropriate promotion, non-spammy. Then, with a beautiful customer experience and product, you followed it up. With these, they will shop with you again or share your name with friends and family?
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2. OPTIMIZE DATA AND ANALYTICS
Analytics is a key component of geofencing marketing. It operates on data that provides actionable information for your next campaign to your marketing team or marketing service provider. Geofencing also offers real-time information to your team.
Some variables that you can assess include:
- Ad views/clicks and impressions
- The conversion zone visits
Another benefit of geofencing marketing is that you are allowed to change your campaigns on the go. You can, for example, check what isn’t working in your campaign if you find users do not respond to your promotions. Perhaps you aim for the incorrect region or timeframe, for instance.
3. IMPROVE USER APPLICATION/ENGAGEMENT
You can enhance your campaigns based on your collected information and increase your user engagement levels. In brief, you are refining your audience to produce better outcomes.
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With your new information, you can further refine your advertisements to increase the participation of your target audience.