Location-Based Marketing: The Ultimate Guide [2023] | GroundTruth - 1 views
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around 83% of marketers say they can run more successful campaigns when they use location data.
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teresastas on 20 Sep 21This is because they feel like they understand what their customers need and they can deliver that.
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more than 225 million American consumers, and 94% of all millennials, now own a smartphone. And they’re using them more and more.
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consumers now spend more time daily on mobile devices (3 hours and 43 minutes) than watching TV (3 hours and 35 minutes).
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If you want to grab customers’ eyeballs, you need to market where they’re looking. That’s why using location-based advertising to target mobile device users is a smart marketing strategy.
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geofencing marketing involves setting up a virtual location or radius so that you can market to people with in that area. Related to that, proximity marketing lets you target advertising and marketing campaigns to people who are within range of a geofence you have previously setup.
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Beacon marketing or beacon advertising allows you to use physical devices called beacons within the premises of a business to target marketing to people who are within range of that beacon.
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Proximity targeting lets you reach your desired customers in real time in or near locations you have previously geofenced.
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Weather targeting lets you use prevailing or upcoming weather conditions to target ads and marketing promotions.
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Audience targeting lets you market to people based on location, online and offline behavior, demographics, interests, and more.
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Location-Based Marketing Benefits
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There are 4 major marketing benefits to location based advertising. 1. location Targeting (target ads to customers within a range of your business or competitor). 2. Data Offerings (marketers can gain deep understanding of customers shopping behaviors). 3. Enhanced Targeting (personalizing ads to the consumer making conversions more likely and improving ROI on ad spends). 4. Cost Per Visit Performance Model (you only pay when the consumer clicks on the ad, visits the store, or hits a certain number of impressions)/
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Location-Based Marketing Disadvantages
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Four disadvantages of Location Based Marketing. 1. Opt-In Requirements (consumers must give permission for apps to access Location data). 2. Non-Smartphone Users (although this is becoming increasing irrelevant consumers without smartphones can't be geotargeted). 3. Inappropriate Targeting (It's important to segment your audience properly to get conversions). 4. Ineffective Location Data (the effectiveness of geoLocation marketing relies on accurate Location data).
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Location-based marketing is an extremely effective tool for getting the word out about your business. It’s had the most success in boosting in-store traffic and increasing brand awareness. It’s also a relatively cost-effective form of advertising compared with other advertising methods.
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What is Location-Based Marketing?
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This article covers location-based marketing, explaining that it is when we use location data from a consumers device to display relevant content to them. It also discusses the importance of location0based marketing and why we should be using it, citing that "consumers now spend more time daily on mobile devices than watching TV". We learn that there are many types of location-based marketing but the six key types are IP address marketing, GPS marketing, geofencing marketing, proximity marketing, beacon marketing and blueprints location-based marketing. The article also discusses how to use location-based marketing correctly and the benefits and disadvantages.
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Opt-In Requirements Place-based advertising only works when users use the location technology on their phones AND give verified apps access to that data. However, many people don’t do this because of privacy concerns. Without their participation, there’s no way to use location targeting with this group of users.