Examples of how a business can make use of geo-conquesting?

By practicing geo-conquesting, businesses can do location-based advertising to target competitor’s customers, extending their marketing reach diverting existing customers. This practice is useful in environments where market share is either saturated or dominated by few large players.

Retailers should understand the power of Data

Most of the online giants understand the power of data acquisition and use it to reach out to relevant customers. Retailers are increasingly leveraging real-time mobile location data by engaging the customers with interactive sections inside the store. This includes augmented reality – content and games that are based on their position inside the store. Adding value to the shopping experience are product reviews and tutorials based on nearby products that are based on the customer’s location.

Retailers are using location data to gain key insights about different customers and their path of purchase through their stores. This allows the retailers to understand the audience in terms of where they are going in the physical world. This helps in creating meaningful profiles on their shoppers. These profiles can further be used in campaigns for retargeting shoppers and engaging them when you have a deal that may interest them.

Measure the effectiveness of the marketing efforts

Retailers can also use location data when it comes to measuring the effectiveness of all the marketing efforts.  This can be done by connecting various marketing channels whether it is digital, print, or TV. Mobile location data can allow the retailers to quantify the return on investment for their campaigns. The ROI of marketing campaigns can be figured out by campaigns that are designed to drive consumers to their storefront using mobile location data.

If you see it from the consumer’s perspective, they are minimizing their effort by taking less steps for their shopping experience. Implementing a mobile payment strategy allows consumers to place and pay for orders, while it can also generate location data for the retailers to gain a better understanding of consumer profiles. So, it is working both ways. It is important to provide re-engagement opportunities and help further prove the value of their advertising spend. Ultimately, if retailers fail to provide significant value-add back to the customer for higher engagement and adoption, they will lose out on the customers. If consumers don’t see the value, they will consequently won’t take advantage of it.

It requires collection and analysis of the significant amount of customer data to maximize the value of location data. Privacy considerations that are associated with the use of this data require data security and privacy compliance to be built in from the very beginning of the program.

So, the primary trick in any location-based marketing strategy is to get consumers actually to share their location information.

Just because buyers get easily engaged in location-based marketing does not, at all, mean that they will. You definitely will have to brainstorm fresh ideas to make them share their location out of persuasion.

If you want to attract buyers to your brand, you can provide them with an option of mobile purchase through any of the mobile payment apps. Once the app gets downloaded and linked to their specific account, you can easily track their location whenever they are near your store. Accordingly, you can make them walk into the store with special offers and deals. Users can then, pay for the purchase of the app.

You can capitalize on the mobile payment apps that are capable of tracking locations. All you need is a bit of creativity to place your campaigns in the right direction and play it around geo-conquesting.

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