5 Benefits of Geofencing technology

WHAT IS GEOFENCING?

Geofencing is a fictitious geographic boundary that can be entered or exited by a mobile device or RFID tag. Geofencing is a location-based service in which an app or other software program uses radio frequency identification (RFID), Wi-Fi, GPS, or cellular data to trigger a targeted marketing action (like a text message, email, social media post, or app notification).

BENEFITS OF GEOFENCING TECHNOLOGY

Improved Targeting

You’ll be able to approach them at the appropriate time and place and engage them with timely, relevant messaging if you can hyper-target prospects.
You’re significantly more likely to contact your prospects if you target people in a specific geographic area and narrow down that area using particular targeting criteria. In the previous Starbucks example, a marketer would not advertise the “cake pop” to any Jane or John Doe that passed by; instead, they would target the advertisement to a particular user demographic.

Spending Efficiency

Your engagement rates increase when your advertising is hyper-targeted and delivered at the appropriate time and location. Using geofencing technology, you can focus your marketing efforts on customers who are most inclined to act and spend less on those who aren’t.

Enhancing Data Collection

You’ll have access to a wealth of analytical data analytics once geofencing technology is implemented, including information on which brick-and-mortar locations are doing better and which target audience is the most engaged. Additionally, you may examine the impact of your messaging, stay durations, and traffic patterns (when people are in or around your venues).

A company may enhance the user experience, boost engagement, and better understand user behavior by fusing this information with online activity, purchase data, and web browsing habits. Using the same data, you can target people who have already visited particular sites and send them personalized follow-up messages.

Personalized customer Experience

You can tailor the consumer experience with geofencing. Reviewing the local population’s demographics will help you tailor your promos if you’re marketing to a particular region.
For instance, if a well-known area high school basketball team is having a successful season, you could use that information to develop special promotions (for example, a free coffee for every victory by the Panthers!).

Competitive advantage

Consider your geographical location and potential customer locations when deciding where to place your virtual border. Observer advice: They might sometimes be different.
Numerous major brands have had great success with this strategy. Why? Because geofencing companies allow enticing customers away from other businesses. This strategy has been used by many large chains. Dunkin Donuts is well known for using geofencing technology to lure customers away from rival coffee shops by setting up geofences around them and sending tailored advertisements to those customers. 18% of the 36% of users who may large chains have used this strategy clicked on the offer (a coupon), saved the coupon, and 3.6% came back to use their voucher. Burger King also activated a geofencing to reroute customers from McDonald’s

5 COMMON WAYS WHY COMPANIES USE GEOFENCING

Geofencing can be applied in a variety of marketing contexts. We list five of the most popular uses of geofencing for brands below.

1. Application of a brand

Have you ever questioned how Target knew you were coming to pick up your order? It is a result of Target’s use of geofencing.

2. Second-Party App

You can still employ geofencing in your marketing strategy even if you don’t have an app. To send your notifications, you can make use of third-party programs. For instance, a restaurant might email coupons to customers who enter a geofenced area using map software like Waze.

3. Text Communication

Everyone is familiar with the “terms and conditions” that must be agreed upon to receive something from a company (e.g., a coupon, an email or newsletter subscription, or a new account setup). We frequently check the small box that reads, “It’s OK to send me text messages,” allowing the company to text us about promotions. However, no company will want to squander valuable marketing funds by sending daily texts. Thanks to geofencing, text messages are only sent when a consumer enters a geofenced area.

4. Social Media Marketing

The major social media sites (Facebook, Instagram, Snapchat, and Twitter) all support geofencing. You can specify your radius using these platforms, and when customers reach the geofenced area, adverts are sent to them.

5. Email Marketing

Web advertising is presented to users after they enter a specific geographic area via web search engines like Google, similar to social media adverts. After all, if you operate a regionally based business in Houston, Texas, you don’t want to offer those critical Google Ads to someone in Portland, Maine.

The use increases productivity and ensures worker efficiency. Many employees think that tracking makes them more productive and motivated. This, as a result, boosts productivity and assists them in succeeding.
It not only facilitates efficient clocking in and out but also retrieves the precise position of your employee. As a result, knowing who worked on a project and for how long can give the admin peace of mind.