The Rise of Location-based Marketing: Is it right for you?
Location-based marketing is rising in popularity as the 2016 consumer wants their information personalized and fitting seamlessly into their lives. This style of targeted marketing is sophisticated and is an immense opportunity for companies wanting to embrace the shift to mobile driven connectivity. The application itself feeds off the built-in GPS capabilities of mobile devices. If you are still not sure exactly what this technology is, let me share an example with you.
Example: As I drive down the street on my way home passing all the local businesses, my phone buzzes and I receive a message about current Target store deals. Due to my proximity to the store itself I received an advertisement. This could then prompt me, the consumer to stop by and pick up forgotten items or seek out the deal offered in the ad.
This technology is a direct way to reach specific consumers while they are close to a company and can quickly act on the call to action. Cisco reported that coupons are currently the most popular application of this marketing technique. Cisco’s research also found that more than half of customers say they would use coupons if sent to them as they were near the store in question.
If you say coupon codes are not for my business, or I sell services not retail, this tactic is still applicable. Think about all the events you attend promoting your services. Using this technology, you could target a select group based off location and time period of say a convention. Encourage people to engage at a certain booth number or pick up a freebie you have at your event location. These short, targeted campaigns can drive customer engagement and leads.
Privacy is one of the main hesitations that is holding this technology from explosive status. By being straight forward with consumers and utilizing specific tactics companies can push past the privacy barrier. Some of these tactics include instore Wi-Fi, geo-fencing, and radio frequency identification.
Every company can find value from utilizing location based marketing technology, however, depending on your budget it may not be the right strategy for your business at this time. Media Venue is always glad to review and recommend particular strategies based on company specifics, contact us anytime.