It’s no secret that Central Oregon has emerged as a thriving business hotspot. In fact, a recent study ranked Bend as the small city with the second highest rate of small business owners per capita in the country. That means that the average business owner faces an uphill climb on the customer acquisition journey, and must use innovative and measurable techniques to rise above the competition. Winning new customers is contingent on capturing the attention of the right people at the right moments.
It might be a good idea for a car dealership to run digital display ads on a news website, but what if the person those ads reach isn’t in the market to buy a car? It’s a safe bet that those same ads would have a much higher impact if they reached someone when they were on the lot of a competing dealership. That individual is actively engaged in the early stages of a major transaction, but hasn’t necessarily made a final decision about the car they’re going to buy. If the right message gets to them at just the right moment, they may leave that lot with a different deal in mind.
Through the use of a technique called geofencing, virtual boundaries are set around a specific geographical location (a car lot in the example above) and the phones inside that location are delivered targeted advertising messages for a set period of time, normally 2-3 weeks after the phone was “geofenced.” This strategy ensures that ads are seen by motivated consumers who are engaged in behavior that is relevant to what a business offers. Geofencing is inexpensive and available to even the smallest businesses, with no upfront costs.
Let’s imagine another scenario. A new nutritional supplements store opens in a busy strip mall in Redmond, but the owners are having a hard time generating foot traffic. They know they need to reach potential customers who are fitness-minded and looking to purchase health products like whey protein and multivitamins, but they don’t know how to reach those people through traditional advertising mediums. One solution for the business may be to geofence the smartphones of gym goers within a five-mile radius of the store and deliver digital display ads and streaming audio ads directly to those gym goers over the next several weeks, while they are visiting one or more websites that participate in the global advertising network that is the backbone of digital advertising today. This technique ensures that the supplements store is reaching people when they’re engaged in an activity that is relevant to the products that the business offers.
Like any digital advertising medium, however, geofencing is most useful when it produces measurable results. Ultimately, business owners want to know that people who saw and heard their ads ended up walking into their business to purchase products. By placing a geofencing boundary around the nutritional supplements business as well as the gym, the store owner can measure the effectiveness of the geofencing campaign by recording how many gym goers later walk through the doors of their shop.
Geofencing is just one of the many techniques that Whiteboard Media can deploy to grow your business. For more information on the products and services we provide, visit whiteboardmediagroup.com.