3 Ways for an App to 💸 Cash 💸 in on Geofencing
Updated: Apr 20, 2020
There is a change in marketing that is making waves across all industries. From small businesses to huge corporations, websites have been a main focus – after all we are living in an internet driven world. What if we tell you that the idea of a website holding all the power is outdated? Mobile apps are now the dynamic powerhouse of the marketing world. Websites require a consumer to actively reach out to engage with any information. This is a stale marketing method, and with a society that has their eyes on their phone every 8 minutes on average – why not cash in on this reach? Mobile apps are on the rise and will be the leader in brand platforms before you can say, “Opt in.”
One of the facets that propels mobile apps to the front of the marketing line is the location abilities associated with them. Location is a superpower for businesses. With geofencing technology and app user location information, app’s have the ability to build a longer lasting connection with consumers.
This is a specialty of the software company, BoardActive. Place-based messages with full scope measurement and filtering options bring a whole new level of personalization to the menu for apps, but let’s get back to why this is what apps need right now.
So, let’s start with the basics. What is geofencing?
Geofencing is the process of setting up a virtual perimeter around a location (store location, sign, public place, literally anywhere). Geofences are used for triggering messages, accounting for visits, and multiple form of measurement.
How does geofencing fit into a marketing space?
The real question is how doesn’t it? From measuring foot traffic to your store location, dwell time, conversions from signs to POS, and even triggering push notifications – geofences are the key component to location-based technology in marketing campaigns and providing the most relevant and personalized experience for their users.
How can you maximize the marketing advantage associated with geofences?
1. Give users a choice.
A user should always have the choice to turn on or off the permissions they give to apps. Whether they have their location monitored and whether they receive messages from the app needs to be entirely in the user’s hands. This builds trust in the app, and in turn gives a higher percentage of people that will choose to retain and engage with an app. Tracking someone without their permission is not how you win loyalty. Plain and simple.
2. Use Location to Send Recommendations
Geofences offer an immediate advantage to a marketer. By knowing where the user is and what they are doing, an app can send relevant information that a user will utilize.
For example, a local pizzeria has been sending out push notifications for a BOGO promotion with little consumer response. They realized that the notifications were not relevant enough for their app users and set up a geofence around the local park down the street from their store location. Now, when their app users enter the park, they receive the notification with the promotion showcasing their close proximity to the pizzeria. Conversions increase, and consumers are happy with the deal they receive.
3. Monitor traffic and conversions using geofences.
Measurement using geofencing offers a variety of stats that aid mobile marketing campaigns.
The first focus is competitive monitoring and extraction. By geofencing competitors, it is possible to send notifications to reroute those consumers to your store location instead. For example, Mary pulls into the parking lot at Lowe’s and gets a notification from Home Depot. The push offers 20% if she heads three blocks down to their location instead of heading into Lowe’s. That is a deal that she can’t pass up, and Mary leaves Lowe’s. Crisis averted for Home Depot, and a successful conversion with a simple location-based push notification.
The second scenario that showcases geofencing measurement is monitoring foot traffic. Geofence store locations and compare the amounts of people entering the geofences. You can deliver information about what store locations are showing the most success and which are suffering. Find your “hot” areas, and target campaigns based on the information found.
The third situation that delivers results for apps is impression to point of sale (POS) measurement. Geofence a store location and geofence other nearby areas where you want to reach consumers. When they enter a geofenced location, trigger messages to deliver to the app user with promotions, store location details, the latest products and more. After making the push impression, the geofence around the store shows when the user gets to the point of sale and makes a purchase. This will broadcast the ROI of mobile marketing campaigns showing what messages work in what areas with which users. This level of information is invaluable to a marketer’s campaign.
BoardActive has a platform that when installed into the SDK of an app – will provide a one stop shop to all of the location-based needs of mobile marketing. From engagement to sales – results are more defined when they utilize geofencing technology. So as websites fall to the background and mobile apps take over the industry, trust a platform that is going to cash in on all of the rewards you deserve with location-based messaging. Schedule a demo to see for yourself.