Addressable (Home Addresses) GeoFencing

The world of business is becoming more and more competitive every day.

New technologies, strategies, and ideas along with ever-changing consumer behaviors keep businesses on their toes to keep adapting to overcome hurdles. One thing that has consistently helped businesses stay relevant and competitive in digital marketing.

In our modern world, successful digital marketing means the difference between success and failure for many businesses. This is why we want to bring your attention to the all-new marketing practice of Geofencing, Addressable GeoFencing in particular.

You can effectively use Addressable GeoFencing to get an edge over your competitors and scale your business to new heights.

Let's discuss what Geofencing and Addressable GeoFencing are, what are their benefits, how Addressable GeoFencing is used, and some marketing strategies, real-world applications, and success stories to give you a better idea of this exciting new marvel of marketing.

What is Geofencing

Geofencing is a location-based marketing strategy or technique that connects your business with devices in a specific geographic location. Geofencing works by relying on a variation of Wi-Fi, GPS, Bluetooth, and radio-frequency identification (RFID) to implement marketing.

Geofencing is a three-step marketing process that includes:

  1. Choosing a physical location to create virtual parameters (fences) around it.
  2. A user that enters your GeoFenced location with their device.
  3. That user's device is then targeted with an advertisement from your marketing campaign.

Geofencing allows you to take advantage of the right prospect, at the right place, and at the right time. It is an exceptionally effective marketing strategy that brings excellent results for your business's marketing campaigns.

Benefits of Geofencing

Being full of targeting opportunities, Geofencing has many benefits that are advantageous for your business. Here are just a few of these benefits.

  • Competition-Based Targeting
    Geofencing allows you to target people who visit other relevant businesses or who visit your competition. For example, if you run an auto parts business, you can target the people that visit a local auto repair shop by creating a GeoFence around the auto repair shop.
  • Effective Retargeting
    Geofencing allows your business to effectively retarget audiences in your GeoFenced location for up to 30 days. This means you can accurately engage them for conversions after they have visited a certain location.

    For example, if your business runs a weekly or monthly class, seminar, or event. You can use Geofencing to accurately retarget audiences for your next session, well after they visited the previous one.

  • Addressable GeoFencing
    If your business wants to effectively target ads to individual homes or businesses on their smartphone, computer, video, display, and over-the-top or connected TV.  Addressable GeoFencing is the solution for this type of highly targeted marketing.

What is Addressable GeoFencing

Addressable GeoFencing is applied when you want to target individual users, homes, or businesses in a specific geographic location. Your business can choose the specific area or neighborhood where you want devices in homes or businesses to receive your ads.

This enables your business to accurately and effectively target prospects and customers in an individual physical location. You can reach them on their smartphones, laptops, desktops, or tablets, based on where they live or work.

It allows your business to remain in control by targeting prospects and customers who pass through pre-determined areas like your stores or your competitors' stores. While Addressable GeoFencing may seem similar to regular Geofencing, it is quite different.

Addressable GeoFencing allows incredibly personalized marketing ads, unlike typical Geofencing. Your business can personalize and target individuals living near your stores or start a discount campaign for those who visit your competitors' stores.

There are many potential applications of Addressable GeoFencing, and this new personalized marketing technique has only just begun to take form.

Addressable GeoFencing is strategic marketing that gives excellent results as a stand-alone marketing campaign or even as an extension to our existing campaigns and marketing strategy.

The fact that mobile devices like smartphones or tablets are now an integral part of daily life and that every individual keeps one close-by means Addressable GeoFencing is highly lucrative.

Benefits of Addressable GeoFencing

New marketing techniques like, Addressable GeoFencing, are enabling businesses to achieve goals faster and more efficiently than ever before. Addressable GeoFencing is allowing them to target with extreme precision, enhance ad frequency and improve the overall effectiveness of their marketing campaigns.

Here are a few benefits of Addressable GeoFencing for personalized marketing in business.

Plat Line-Specific Ads
Unlike most tech, which uses physical addresses to identify locations, Addressable GeoFencing goes a step further and considers individual property using public data, like property tax records. This offers immense precision when targeting ads to a multi-home property like a building.

This precision is even more accurate than IP address targeting, which uses the IP address of users' devices to target them for marketing campaigns. Addressable GeoFencing can precisely target devices in a single-family home, or a multi-home property, providing exceptional results.

Improve Customer Loyalty
Using Addressable GeoFencing, you can show appreciation to your customers for bringing business to you, without the need to give them offers, discounts, or promotions every time. You can instead offer them valuable relevant content that is not too promotional.

This helps customers feel more independent and make their own informed decisions when it comes to purchasing products that relate to your business. This makes for a very positive perception of your brand, and customers become more loyal to your business.

They are more likely to purchase from a business that is honest, unbiased, and promotes valuable content than just the typical promotional content. Even if they do not immediately need your products, they will still regard your brand highly, and when the time comes, they recommend you to others as well.

Scalability
With Addressable GeoFencing, you can immensely scale your digital marketing efforts. You can add hundreds of thousands of addresses to your marketing campaigns, which means your ads will potentially reach millions of users.

This means unlimited targeting potential because your ads are visible to these users in places where it makes the most significant impact on their buying decisions.

Incorporating Multiple Demographics
While the location is one demographic aspect that Addressable GeoFencing covers comprehensively, you can incorporate hundreds of other demographic points as well. Your marketing campaigns can be customized to target demographics, such as age, gender, income, interests, etc.

This allows you to further focus your digital marketing efforts where your research suggests the best conversions. A good marketing partner will enable your business to incorporate multiple demographics for your Addressable GeoFencing marketing campaigns.

Measure Marketing Campaigns with Conversion Zones
If your business has a physical location where conversions occur, as a brick-and-mortar store, you can use it as a conversion zone to measure campaigns. By creating another virtual boundary using Geofencing, you can mark the location of your business as a conversion zone.

When a prospect or customer enters your business area after receiving an ad from your marketing campaigns, you will know that they converted and landed at your business location because of a specific marketing campaign.

You can effectively connect an offline conversion to an online digital marketing campaign from the valuable data you receive from conversion zones. This is extremely useful data for those businesses that heavily rely on prospects and customers visiting their stores for conversions.

Omni-Channel Connectivity & Testing
Addressable GeoFencing allows your business to connect to its customers in your GeoFenced area through multiple channels. You can connect with them through display ads, audio ads, video ads, and over-the-top or connected TV ad campaigns.

Moreover, you can use these channels to conduct multiple market testing by targeting specific demographics with certain marketing campaigns to measure their response. This will allow you to measure what works better with whom and plan future marketing campaigns accordingly.

How Addressable GeoFencing Is Used

There are plenty of ways marketers use Addressable GeoFencing and your business should use it in similar ways. Addressable GeoFencing is used in digital marketing to:

Increase User Actions
You can effectively increase the rate at which users respond to your calls-to-action (CTAs) when they enter a GeoFenced area. This means more availed offers, more app downloads, and generally more conversions for your business.

Increase Brand Awareness
When users enter GeoFenced areas, you can effectively raise your brand's awareness and user engagement by notifying them of your brand through text or alerts. For existing customers, this means highly personalized engagements for improved brand awareness.

Promote In-Home Advertising
You can use Addressable GeoFencing to promote complementary connected TV ad efforts and direct mail in the homes of users.

Place Targeted Web Ads
Addressable GeoFencing makes effective use of placing highly targeted web ads through services like Google Ads.

Cross-Promote Partnerships
If your business has strategic partnerships, Addressable GeoFencing easily allows you to cross-promote these partnerships.

Achieve Marketing End-Goals
Ultimately, the end goal of any marketing campaign is to promote your brand and increase sales. Addressable GeoFencing helps you achieve this goal by accurately targeting audiences to promote your business and increase its overall sales.

Marketing Strategies for Effective Geofencing

Similar to other marketing campaigns, Addressable GeoFencing requires quite a bit of planning for effective results. It is highly recommended to consult a good GeoFencing marketing agency before you plan to implement a Geofencing marketing strategy for your business.

Here are some critical marketing strategies for effective Geofencing that will help get you the best results.

Size of Your GeoFence
Seeing how beneficial Geofencing can be for your business, it is only natural to want to cover larger areas across multiple locations. However, this is not the best approach, you need to be selective in your approach to get the optimum results.

This is because oversized areas of Geofencing can tend to deliver diminishing results and can very well drive traffic to your competitors. You want to employ Addressable GeoFencing to create compact GeoFenced areas that yield superior results.

Typically, you will want to initially target areas that are within a 5-minute walking or driving distance from your physical stores. If your business is based online, you will want to target areas where consumer behavior and demographics fit your ideal customer profile and direct them to your website or online store.

Conduct Market Research
As with any marketing strategy, you will first want to conduct thorough market research to identify your target audiences. For successful Geofencing, you must first understand who your customers are, what they want, and how they behave.

This will allow you to create better-targeted ad campaigns and personalize them according to your target audience. These are critical things that improve customer engagements and result in a higher number of conversions.

If market research is not your thing or you lack the tools or expertise to conduct market research efficiently, a professional GeoFencing marketing agency will help you with it. They will help analyze your existing data and engage and interact with your existing customers to conduct market research for you.

Use Specific & Effective CTAs
You want to implement the right call-to-action (CTA) for improved results. They must be specific to a single CTA and not distract from the main message while also being inviting. However, you need to make sure that CTAs are not spam-like or too self-serving.

If you have a new product that you are promoting, use words like 'try' instead of 'buy'. Using such a copy will give the target audience an open invitation to try your product instead of pushing them to buy it. Open invitations tend to bring in more customers to your business organically.

Always Keep Updating
If your Addressable GeoFencing marketing campaigns are performing well, it does not mean they cannot be improved further. Customer needs, behaviors, and actions are always changing, and your business needs to stay on top of these changes to remain competitive.

Measuring the success of your marketing campaigns and regularly reviewing the data to implement changes that keep your Addressable GeoFencing campaigns relevant is vital.

Incorporate Multiple Strategies
As previously mentioned, Addressable GeoFencing can be an excellent stand-alone marketing strategy, and it can also work well with your existing campaigns. If you incorporate Addressable GeoFencing with your other campaigns, the results will compound beyond your expectations.

An experienced Addressable GeoFencing agency can help you do this and much more to give you unmatched results and a solid edge in the market.

Real-World Applications of Addressable GeoFencing

Even though Addressable GeoFencing is a relatively new concept, it is currently being applied to many real-world businesses. The potential is incredible, which is why businesses of all types are slowly realizing its benefits and turning to Addressable GeoFencing as a highly lucrative solution.

Here are just a few real-world applications of Addressable GeoFencing in multiple industries.

Auto Dealerships
When the end of an auto lease agreement is near, most drivers are interested in their next car. Using Addressable GeoFencing, auto and car dealerships are now efficiently targeting and effectively marketing their offers and products to these people during this window of opportunity.

Moreover, auto and car dealerships are using Addressable GeoFencing to target competitor's dealerships and measure traffic back to their showrooms.

Retailers
As mentioned earlier, Addressable GeoFencing can help create loyal customers. Retailers use this to their advantage by running customer loyalty programs by Geofencing their stores to drive repeat customers. This is a tactic that is used by many franchises as well.

Healthcare Industry
Medical and healthcare facilities are using Addressable GeoFencing to market to new or existing customers within their physical locations to drive traffic. This is especially useful for annual checkup reminders, screenings, or before flu season when vaccinations are needed.

Financial and Legal Consultants
Banking, finance, and legal service providers or consultants all benefit from Addressable GeoFencing by targeting local customers near to their offices. They market home loans, student loans, tax forms, wills, and much more to create a local customer base.

Additionally, Addressable GeoFencing makes it much easier for professionals like personal injury lawyers to reach victims at hospitals, ERs, or other relevant places.

Utility Contractors
Professionals in the home improvement or utility contracting business promote their services in nearby locations using Addressable GeoFencing. Moreover, they also promote the work they have recently completed in those local areas to garner new clients.

Real Estate
Buyers and sellers are always assessing the markets to get the best pricing for buying or selling homes. Real estate professionals or companies can take advantage of Addressable GeoFencing. They can pique interests by targeting locations where a recent property has been sold or is up for sale.

Through this GeoFencing campaign, real estate professionals will get the locals interested in buying or selling homes. Moreover, Addressable GeoFencing can help promote open houses by getting more people to attend them.

Restaurants
Addressable GeoFencing allows restaurants to target locals because they understand the importance of local patrons and how critical they are to their business. They can target locations to market their events, deals, discounts, specials, new items, and much more.

These were just some of the real-world applications of Addressable GeoFencing, and there are plenty more that exist. Interestingly, more and more industries are finding use cases for Addressable GeoFencing, and its user base is expanding daily.

To get a better idea of how effective Addressable GeoFencing can be, you must look at the recorded success stories that exist so far.

Addressable GeoFencing Success Stories

While it is the best for businesses with physical locations or brick and mortar stores, Addressable GeoFencing is also beneficial for online businesses. Here are a few success stories of businesses that applied Addressable GeoFencing to get amazing results.

American Eagle
The clothing brand American Eagle effectively tripled its revenue by targeting malls nationwide that had its retail store. They created incentives and offers through Addressable GeoFencing campaigns and encouraged customers to choose their brand over the competitors.

Burger King
Burger King famously implemented Addressable GeoFencing in their 'Whopper Detour' campaign. They created a GeoFence around competitors, McDonald's restaurants, and asked their customers to a McDonald's restaurant to unlock a one-cent Whopper on their Burger King app.

This unique and high-risk offer resulted in 1.5 million Burger King app downloads over 3 billion impressions and equated to 37 million dollars in earned media.

Taco Bell
The fast food chain Taco Bell used Addressable GeoFencing to effectively target customers below the age of 30 near their restaurants with the Taco Bell app. This strategy drastically improved their annual profits by a whole 6 percent, generating almost 600 million dollars in added benefits.

These are only some of the many success stories of Addressable GeoFencing, and you can find more, including success stories of popular brands, like BMW, Sephora, The North Face, and many more.

Conclusion

Addressable GeoFencing is an excellent strategy to incorporate in your existing marketing campaigns or to run as an individual marketing campaign on its own as well. It offers your business precision targeting, wider reach, improved brand awareness, increased foot and online traffic, and much more.

Whether you have a physical location for your business or it is strictly online-based, you will certainly benefit from Addressable GeoFencing in many ways. Implementing other tactical marketing strategies to complement these efforts will yield results unlike ever before, as it has for so many other businesses.

We highly recommend you to seek the services of SP Marketing for the best digital marketing and Geofencing solutions.

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