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Whether your organization operates in the business-to-business (B2B) or business-to-consumer (B2C) sector, addressable geofencing is a smart and effective strategy. You can target the location of businesses, as well as residential neighborhoods, to reach and convert your audience with ease. Nine additional benefits of addressable geofencing services include:
1. Improve your geofencing ad targeting
Ad campaigns with little-to-no targeting fail hard and fast. That’s why targeting has become a core component of digital advertising. With options like location, age, interests, and more, your business can create hyper-targeted ads that reach the people you want versus only a sliver of your audience.
iTransparity addressable geofencing advertising services amplify the targeting of online advertising. Our geofencing software uses property tax information and plat line maps, for example, which show the different subdivisions of a piece of land, to pull the latest data.
With this data, we can create campaigns with accuracy, helping your business reach its target audience with precision. For example, a pest control company looking to generate leads could use this data to target residential neighborhoods with older homes.
2. Scale your geofencing campaign to your needs
Every advertising campaign is different. Whether you’re trying to encourage shoppers to come out for a seasonal sale at your retail store or drive quote requests year-round as a part of your HVAC advertising strategy, all your campaigns will have a different goal. In some cases, they may even have separate audiences, especially if your business serves both B2B and B2C users.
That’s why a scalable addressable geofencing solution is critical. If you don’t have a scalable solution, your team will have to bounce back and forth between providers and applications. It’s a hassle, and you don’t need it. With iTransparity, you don’t even have to worry about this problem. Our addressable geofencing software can target up to one million addresses per campaign.
3. Attribute foot traffic, sales, and leads to your geofencing ads
With online marketing, especially geofencing advertising, it’s essential to credit your different channels. For example, if your company receives a phone call because of your search engine optimization (SEO) strategy or social media advertising campaign, you want to know about it. The same thought process applies to your addressable geofencing efforts.
If those ads result in a sale, store visit, or call, you want to know because it helps you measure that strategy’s effectiveness. Our addressable geofencing services help your team track and credit the following to your campaigns:
Web forms, like a quote request form
Ecommerce-related actions, like a purchase
Foot traffic, like a store visit
For your business, this kind of tracking is invaluable. You can monitor the performance of your campaign with accuracy, as well as demonstrate the value of your addressable geofencing services to company decision-makers. Attribution from our geofencing software takes the guesswork out of advertising.
4. Enhance the performance of other ad campaigns
Depending on your business, you may use other types of advertising and marketing. For example, your company may already target specific addresses with direct mail or advertise to certain areas with traditional pay-per-click (PPC) advertising. Either way, you can use addressable geofencing advertising to support these other ad strategies. This benefit of addressable geofencing is beyond valuable.
That’s because companies with an omnichannel approach to marketing and advertising retain almost 90% of their customers. In comparison, companies that don’t use omnichannel strategies have a client retention rate of less than 35%. With a multi-channel approach to marketing and advertising, your business can reinforce your message (and unique offer) via different outlets. You can also build brand awareness and reach the ultimate goal of your advertising strategy: sales.
5. Use cross-device targeting
While only 31% of transactions come from cross-device interactions (which is when a user bounces between multiple devices, like from their phone to their computer, before converting), cross-device targeting is still a valuable tool in online advertising, including addressable geofencing. It’s also critical for companies operating offline and online.
According to a Google study on electronics, services, and retail purchases, over 80% of consumers conduct research and make purchases using both channels. For example, someone may discover your product online and then buy it at your store later. Or, vice versa. Using cross-device targeting provides your business with additional opportunities to reach your audience and make your offer. It also lets you benefit from competitors who may ignore cross-device targeting and focus all their efforts on a single channel or device.
Our addressable geofencing services make it easy for your company to take advantage of cross-device targeting. You can target mobile, tablet, and desktop devices, which helps you reach users in varying stages of the buying funnel, from awareness to purchase.
6. Amplify your ad personalization
Personalization matters to not only shoppers but also business buyers. Around 91% of consumers, for example, are more likely to shop with businesses that create a personalized marketing experience. Amazon is one of the best examples of companies that deliver a personalized experience by recommending products. Tailoring your marketing and advertising efforts can also have a tremendous impact on your bottom line. Recent studies show that personalization can lower acquisition costs up to 50%, as well as improve revenue by five to 15%.
With geofencing solutions like our addressable geofencing services, your business (and dedicated WebFX account manager) can create a targeted and personalized campaign. These campaigns appeal to your audience’s needs. Plus, they help you maximize the benefits of geofencing. For example, take the fictional Green Thumb Landscaping.
This company provides residential landscaping services, and they’re looking to generate some customers from a new housing development. With addressable geofencing, they can determine which houses sold, as well as create personalized ads for those new homeowners. These homeowners, for instance, may want to start planting grass for their lawn but don’t have the time. Or, they may need help designing a garden for their backyard. Green Thumb Landscaping can incorporate these different scenarios into its geofencing ads.
7. Import and use offline data
Another excellent benefit of our geofencing solutions comes from our import capabilities. If your company uses customer relationship management (CRM) software or specific databases, you can use that data for addressable geofencing advertising. It’s fast and simple for your team to share and import this data, which can improve your campaign’s performance dramatically. A few examples of some other databases that work well with geofencing advertising include:
Lease renewals for automobiles
Cable or Internet household statuses
Mortgage loan data
Direct mail listings and more
No matter your database type, it’s vital that your company has an extensive database. If you want to only use your CRM database or direct mail listings, for example, your business should feature at least 5000 addresses. We recommend 5000 to 20,000 addresses for addressable geofencing, though we can help your business target more than 20,000 addresses.</p
8. Access zip+4 level reporting
Reporting is a critical part of any advertising campaign, whether offline or online. That’s why our geofencing software includes ZIP+4 level reporting. With ZIP+4 level reporting, your company can view campaign data by the last four digits of a ZIP code. These final four digits include critical details, like the area and surrounding streets.
This granular level of reporting can help your team and dedicated WebFX account manager determine your strategy’s effectiveness and the potential value of a specific location. You may find, for example, that a particular set of streets don’t perform as well compared to another. In response, you remove those low-performing addresses and direct more of your ad spend towards those lucrative ones. With this reporting, you not only make your campaign smarter but also help your budget go further.
9. Receive daily audience updates
People change, and you need to adapt to those changes. That’s why our addressable geofencing services use software that updates your audiences daily. Daily audience updates help your dedicated account manager make strategic and timely choices about your campaign and strategy. If they spot a significant shift in your audience, they can make changes immediately.
Constant audience updates also help your business uncover trends. For example, you may notice that audiences tend to convert, like by visiting your store, within a week. Or, that most users follow a path of visiting your website, returning to your site later, and then contacting your business. All this data can provide your team with additional insight into your customer base.
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