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5 Sure-Fire Ways to Earn More with Geofencing

Reaching customers where they are with what they need is the fundamental principle of geofencing.  Earn more. Win big. Geo-fencing strategies provide a targeted approach to digital marketing that helps businesses win new customers. The biggest earners in the geofencing space, however, practice these sure-fire ways to boost their ROI.

Be Strategic

Geofencing can be likened to a game of chess. Make the right moves and you’ll be able to defeat your opponent.  Think carefully about geofencing placement. Some businesses have used the diversion approach where a geofence is placed in the broad region surrounding a competitor. A customer who enters this region would receive notifications with deals and coupons from your store. Enticed by these deals, the customer will choose to purchase from your store instead of the competition.

Using the right size for your geofence is another way to be strategic.  For instance, if your product is sold in a large department store you may want to place a geofence around the product’s shelf space. Also, if you are building a campaign to sell a specific product line, it would be wise to create a geofence around that specific product’s location instead of around the entire store.

Population Density is Important

Your aim is to reach a large number of people who are more likely to make buying decisions.  It is fair to assume that the larger the geofence, the larger the audience. However, you want that audience to include people who are more likely to make the impulsive decision to visit your store. Shops in busy urban areas, therefore, benefit more from a smaller geo-fence. Conversely, stores in rural areas, where people are willing to drive miles to get what they want, benefit more from a larger geo-fence.

Use Wi-Fi instead of GPS

GPS drains battery life. Apps that are programmed to use geofencing with Wi-Fi and cell tower information fare better with users.  Although GPS provides a more accurate picture, Wi-Fi preserves battery life. The latter is more important to a consumer.

 

 

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