In this digital world, there is one thing consumers inevitably cannot leave the house without: their mobile device. Used at almost every juncture of the day it’s a no brainer that a business’s best shot at getting a potential customers attention is through his or her mobile device. While the task might seem daunting, there are a myriad of ways to reach your target audience on-the-go without breaking the bank using location-based advertising. According to a research report by Berg Insight, “Location-based advertising (LBA) market is expected to hit nearly $15 Billion by 2018.”
What is Location-Based Advertising?
Location based advertising is made up of several different methods to target consumers using data gathered from their mobile device. Different methods include: Geo-based targeting, proximity based targeting, and beaconing. Some approaches simply use location to drive customers into their establishments while others are able to analyze data and personalize marketing initiatives.
This type of location based advertising hones in on a mobile device’s GPS locator to contact consumers. Geo-based targeting is a perfect way to give a customer an incentive such as a discount to lure them into your location or to remind them they need a service done. For example, if the GPS locator is close to your car dealership you can send the customer a service reminder or a financing offer.
Proximity Based Targeting
Proximity Based Targeting, also known as “Geo Fencing,” takes geo-based targeting one step further by creating a virtual “fence” around your campaign. When a potential customer enters the “perimeter” you have formed, a push notification or advertisement gets automatically sent to them. For example, a restaurant owner could set up a geofence at a nearby concert venue to send alerts to attendees inviting them to come eat after the concert.
Beaconing is the newest member to the location based advertising family and differs from its predecessors in that it uses Bluetooth technology to contact customers. Since beacons use Bluetooth instead of GPS location they are able to predict a much more precise location. This is great for retailers who want to offer directional-based promotions. For example, if a customer was looking at a display the retailer could send a personalized coupon at that very moment to their mobile device.
Location Based Advertising is vital to your marketing campaign and is also one of the most profitable forms of advertising. If you need help deciding which location based advertising method is right for your business, give our specialists a call at 973-383-8703 today!