What is Addressable Geofencing: More Than Just a Passing Fad

What is Addressable Geofencing: More Than Just a Passing Fad

What is Addressable Geofencing: More Than Just a Passing Fad

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Imagine walking down the street, minding your own business, and BAM! You receive a notification on your phone. It’s a coupon for that coffee shop you’re passing by. 

Coincidence? I think not. Welcome to the world of addressable geofencing. But what is addressable geofencing, and why should you care? Let’s dive in!

What Is Addressable Geofencing: More Than Just A Passing Fad What Is Addressable Geofencing

What Is Addressable Geofencing, and Why Is It Rocking the Marketing Boat?

Addressable geofencing is like a ninja in the world of digital marketing. It’s stealthy, precise, and packs quite a punch. It’s a type of digital marketing that uses GPS or RFID technology to create a virtual boundary around a specific location. When a device enters or exits this boundary, it triggers a pre-programmed action, typically sending a targeted advertisement to that device.

Now, I know what you’re thinking. “That sounds like some Black Mirror stuff right there.” And, to be honest, it does have a bit of a futuristic vibe. But let’s not get ahead of ourselves. Addressable geofencing isn’t about mind control or world domination (at least, not yet). It’s about efficient and targeted advertising.

So, why is addressable geofencing making waves in the marketing world? It’s simple. It’s precise, efficient, and versatile. Addressable geofencing allows businesses to target specific customers in specific locations at specific times. It’s like having a sniper rifle in your marketing arsenal rather than a shotgun.

The Magic of Addressable Geofencing: An Example

Let’s say you own a pizza shop. You’ve just created a new pepperoni pizza recipe and want to get the word out. You could put up billboards, run ads on TV, or spam people’s inboxes with emails. Or, you could use addressable geofencing.

With addressable geofencing, you could set up a virtual boundary around your pizza shop. When someone with a smartphone walks by your shop, they receive a notification on their phone. It’s a coupon for a free slice of your new pepperoni pizza. They’re hungry, close by, and love pizza (because who doesn’t?). Chances are, they’re going to stop by your shop. And just like that, you’ve got a new customer.

The Stats Don’t Lie: The Effectiveness of Addressable Geofencing

Now, I’m sure some of you are sceptical. And I get it. Addressable geofencing sounds like a fancy term some Silicon Valley tech bros invented. But the stats don’t lie. 

Addressable geofencing can help you reach your audience members across multiple touchpoints to build brand awareness and loyalty. 

In the for-profit sector, it takes an average of eight touches before prospective customers feel inclined to make a purchase. Addressable geofencing can increase the number of touchpoints between your organization and its prospective audience members by supplementing your marketing with digital outreach across recipients’ mobile devices, tablets, and laptops.

Addressable geofencing also gives your organization access to a wealth of audience insights. With tools like AccuData’s Addressable GeoFence, you can gather individual data on audience members, such as identifying matched households, and track their interactions with your digital ads. 

Use this information to determine the effectiveness of your advertising and adjust your future ad campaigns.

Should you take the plunge and incorporate addressable geofencing into your marketing strategy? Like anything else, it depends. It requires a certain level of finesse and experience to pull off successfully. 

If you don’t have a tech wizard on your team, it’s recommended that you work with a geofencing specialist to get the most out of your campaign. 

They can help identify your target markets and audiences, launch and manage your campaign, work as an extension of your team, and track data and report on campaign insights.

The Nuts and Bolts of an Addressable Geofencing Campaign

Alright, let’s get into the nitty-gritty. How does one go about setting up an addressable geofencing campaign? Here are the four core steps:

  1. Build a List of Physical Addresses to Target: You can use consumer demographic and psychographic data (or firmographic data for businesses) or CRM data for targeting current customers or building lookalike audiences.
  2. Design Your Ad Content: If your campaign addresses multiple target audiences, you’ll want to develop ads customized to each. Because of their digital format, ads can include video, animation, and text.
  3. Serve Ads to Targeted Devices: Once your list is built and your ads are ready, your digital advertising partner with addressable geofencing capabilities will begin delivering your ads to the connected devices within your geofence.
  4. Track and Manage Your Geofencing Campaign: At the end of your campaign, you’ll receive a performance report that includes the total number of impressions served, the total number of clicks, the click-through rate, the estimated number of people who saw your ad (unique views), time and day trends, a sample of the websites on which your ad may have appeared, the top performing creative ad, behavioural insights, and additional conversion tracking/attribution reporting if enabled.

Pro Tips for Addressable Geofencing Success

If you’re going to do addressable geofencing, you might as well do it right. Here are some pro tips to help you design the most effective addressable geofencing campaign:

Understand your target audience

Before you launch your strategy, it’s important to understand exactly who you’re trying to target with your campaign. It helps you determine how or where to reach them with your geofencing techniques.

Optimize your ad content

Ensure that the ads you send to your audience are well-designed and compelling. It includes choosing imagery representing your business, running a spelling and grammar check, and adding interactive or video ads to your geofencing campaigns.

Use a compelling call to action (CTA) to encourage engagement

Your digital ads should include compelling CTAs encouraging audience members to take a clear next step. Depending on your organization’s goals, you might say, “Sign Up for a Free Account Now,” “Book Your Free Demo,” or “Access Your Free Sample.” Forget the generic “Click Here” button.

Track engagement data to assess progress

Track engagement data to assess the effectiveness of your addressable geofencing efforts. How many people click on your digital ads? How many individuals visit your business or use your online store because they saw your ad campaign and were intrigued?

Keep your data organized

As you gather information on your audience members and ad campaigns, keep your insights easily accessible. It includes auditing your database to identify errors or mistakes, standardizing your data entry procedures, and designating one staff member to handle all data entry issues.

The Bottom Line:

There you have it, folks. Addressable geofencing: the future of marketing or just another buzzword? Only time will tell. But one thing’s for sure – it’s definitely worth checking out.

 
 
 
 
 
 
 
Konger Avatar
Konger
9 months ago

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*The information this blog provides is for general informational purposes only and is not intended as financial or professional advice. The information may not reflect current developments and may be changed or updated without notice. Any opinions expressed on this blog are the author’s own and do not necessarily reflect the views of the author’s employer or any other organization. You should not act or rely on any information contained in this blog without first seeking the advice of a professional. No representation or warranty, express or implied, is made as to the accuracy or completeness of the information contained in this blog. The author and affiliated parties assume no liability for any errors or omissions.