3 things you need to know about geofencing
So you just returned from a seminar where one of the breakout sessions or maybe even the keynote speaker talked about the marvels of geofencing. Now it’s up to you to figure out how to harness the power of location-based targeting for your company. Here are some things to know about geofencing to get you started.
Types of Geofencing
Geofencing tactics have evolved since the days of beacon technology. Savvy marketers can now target in real time, re-target through mobile ID capture and even use “look back” windows to target users who were within a geofence in the past. These capabilities have re-shaped the way time and place can be leveraged. Using a look back window, for example, is a way to achieve scale from the first day of a campaign. Mobile retargeting allows marketers to extend the conversation with prospects after they leave a geofence.
Self-Service or fully managed platform?
A self-serve platform allows the most flexibility with copy and campaign changes. If you need to swap ad units in the middle of the day, pause the campaign or change geolocations, you’ll be able to do so by logging into the platform. Self-serve platforms often require larger minimum spends. They can be tricky for the casual user and may not be the best option unless you have time to learn a lot about optimizing geofence campaigns as well as time dedicated to manage the campaign on a regular basis.
Fully-managed platforms, on the other hand, rely on an expert for campaign set up and optimization. With these platforms, there’s often a digital strategist who’ll help you conceptualize the campaign as well. The best full-service platforms use analysts who’ll optimize your campaign several times per week or daily. The trade-off is they’re typically a bit more expensive, and creative and campaign changes may take a business day or two to complete.
Geofencing can be an excellent way to prospect for new leads. It’s a tactic that can help fill your sales pipeline by adding new, top and mid-funnel prospects. It’s a great add-on if your search campaign isn’t generating enough leads, as it’s able to reach prospects who may not be actively searching for your business. Passive job candidates, for example. Or shoppers at your competitor’s store. It’s important to set the proper KPI’s for geofence campaigns. If you’re stuck in a last-click attribution model, geofencing might not be right for you, as few, if any, form-fill leads will come directly from a geofence click. You have to look up the chain at assisted conversions to see the real story. One early metric to monitor is new site visitors. Once these prospects have landed on your site, bottom-funnel tactics like retargeting can be employed to nurture prospects into actionable leads.
Well there you have it – a few thought starters to aid in your quest for geofencing knowledge! Bookmark this page and come back next week – our topic will be What to Look for in a Geofencing Company.