The Unmatched Potential Of Location-Based Marketing For Businesses

Location-Based Marketing For Businesses
Location-Based Marketing For Businesses

The advent of geolocation technologies has opened a new frontier for businesses. They can leverage it for location-based marketing, the innovative strategy that is fast emerging as a game-changer in the competitive business landscape. The concept of this strategy is unique and innovative. Since you know where your customers are, you can target them more contextually. You end up reaching the right customers at the right time and deliver relevant messaging that give you good chances of conversions. But this is just the tip of the iceberg, and the technology lets you do a lot more than what you can see on the surface. Let us highlight the unmatched potential of location-based marketing.

Know the customer better

The hyper-competitive markets make it vital for businesses to know their customers better. Location-based marketing leverages accurate data about the website and mobile visitors, so your business gets help with building its buyer personas more effectively. The insight about buyer location, behavior, and preferences can also help you come up with a better strategy. Mobile IP locations take the advantage a step further as you get insights on real-world metrics such as foot traffic to specific physical locations and the amount of time spent in specific areas of the store. A better understanding of the consumer helps you to create an impactful marketing strategy to boost conversions and retain them in the long run.

Attract new customers

With location-based marketing, you get the opportunity to convert online traffic and foot traffic into new customers. You can target even the ones who do not know your brand, just because you understand their preferences and know their location. Tactics like sending across a newbie-special offer to a customer searching from your city or someone using a mobile location near your store is a great idea. These potential customers will have good reasons for dropping in and shopping from your store. Alternatively, you can show contextual recommendations to online shoppers based on their location, which again ups the chances of conversions.

Convert impulses to sales

It is the era of instant gratification and micro-moments when businesses need to capitalize on consumer impulses. Location-based technologies help you to convert buyer impulses into sales without much work. You can check to understand how you can use the technology to remove barriers to sales. When you are able to locate the whereabouts of the consumers the moment they access your e-commerce store or reach near your retail location, you can send across a persuasive message or offer. There are good chances that they will give in to the impulse when you send them the right message at the right moment.

Get your business through the bumps

The nature of some businesses is unpredictable, as things may get to capacity at certain periods, followed by long lulls. The fluctuations may happen daily or may be seasonal. Surprisingly, location-based marketing enables you to even out these trade bumps by keeping the flow on during the quiet periods. Consider sending across special offers and discounts to customers who are around and more likely to drop in during the lean periods. You will probably end up with reasonably good traffic and also get a few loyal customers as a part of the deal.

Cost-effective yet highly targeted 

Another great thing about location technology is that it gives you extensive benefits without costing a fortune. Even if you invest in the more advanced forms of this technology, you will not have to spend as much as a majority of traditional marketing methods. Moreover, the strategy is highly targeted as you exactly know the geographical location of the consumers you are approaching. A targeted approach is always beneficial because it means worthwhile investment and zero wastage.

Improve your search engine rankings

A bonus point that you can get by investing in geotargeting is better search engine rankings for your business. Location-based services like Google My Business and Yelp require you to fill in your company pages. It will give you the advantage of local search optimization, so you can expect to rank higher in the search engine rankings. You cannot overlook the benefits of ranking higher because they get more visitors to your website and give you good chances of conversion.

Needless to say, location-based marketing can be a key differentiator for your business in current times. It can give your brand the winning advantage as you know your customers better and get a step closer to them, no matter where they are.

Author Bio: Amber Gale is the new face of ThinkTank at Outreach Monks with close to a decade’s experience in content marketing. Her accolades include working with top magazines for optimizing their content strategies.