Location-based marketing has become mainstream today. People target their audience based on the location so that they can attract the attention of a larger population. Where your retail store is located and which properties are located near your business play a pivotal role in determining your success. Geo-branding or geo-marketing is one such popular technique that has been used widely to promote your brand to the right audience.
The best part is that geo-branding has become so affordable that businesses of all sizes and nature can use it to their advantage. Besides, these techniques are compatible with all devices, including your PC, smartphone, and tablets, making geobranding a cost-effective and customer-friendly option for businesses.
Why is Geobranding Used?
Geobranding is a long-term marketing strategy that creates successful marketing campaigns. The technique helps you generate actionable insights into your target audience and understand the market condition so that you can customize your marketing strategies for your audience. As the name suggests, geomarketing helps customize your marketing efforts and decisions based on where your target audience is located. Using the daytime and nighttime population analysis tools, it’s become easy for businesses to figure out the audience that visits a specific area during certain hours.
Although the rapidly progressing technology has enabled even small businesses to use geo-branding tools, these are most commonly used by companies that have access to location information. As mentioned above, digital technology has made geomarketing tools pretty affordable for all businesses. Even small companies and startups targeting a specific audience can implement the geomarketing tools to take their business to new heights.
How does it Help Businesses?
You can use geobranding to target a local and international audience. Let’s understand this with an example. Suppose you own a furniture store and are planning to promote your products to the local audience. Using geobranding, you can figure out the audience located within a 1-2 hour drive from your retail store. This information is used for distributing flyers and other marketing material to the audience.
Not only that, but you can use geomarketing to identify the areas where your products and services are likely to sell the most. It helps you identify the demand for your product in different regions. Using this data, one can decide the perfect place to set up their business or expand their operations. A business may also use geomarketing data to identify the best places to buy billboard advertisements (depending on the traffic patterns of the area).
In addition, businesses use geomarketing to send push notifications to the customers present in a particular area. For example, people may receive discounts, coupons, and other offerings from retail stores located a few miles away from their current location. As customers enter the virtual boundaries, they will get a suggestion regarding the best hotel, restaurant, cafe, retail store, and a supermarket in the nearby area. These strategies help businesses boost their sale and maximize their revenues. Using geomarketing, a company can pinpoint the exact location of a customer.