An Overview of Location-Based Marketing for Large Facility Marketers

Understanding the pulse of the customers is the most challenging task for marketers, especially in the context of evolving patterns in customers’ buying decisions. It is essential to know what triggers their minds and investing in location-based marketing is the key to know that, says research by eMarketer. Location-based marketing has different aspects which work in tandem to keep your business ahead of the curve. Though concerns have been rising regarding privacy of customers’ information, it is assured that their data is kept confidential and safe. 4 Primary Methods of Location-Based Marketing Geotargeting Geoconquesting Proximity marketing Geofencing All of these methods are interchangeable with one and another depending on the requirement of the facility. Now let’s delve into each individual method. GEOTARGETING – Geotargeting provides personalized content for visitors who have been in that location in the past. With that data of the visitors, strategic campaigns are built to target relevant audiences. By using the visitor’s immediate location, this technology sends push notifications that are specifically designed for individual visitors. GEOCONQUESTING – Geoconquesting helps in targeting the visitors who are about to get into a competitor’s store by providing them with a better offer or deal. Also, this method can work flexibly, provided it is served on the fingertips of the visitors; therefore, a Smartphone app will be an ideal platform to send relevant info. Whether the visitor is nearby to your store or to your competitors, based on their recent visits, the app will show discount notifications that will trigger their visit to the store. PROXIMITY MARKETING – This method is made possible with beacon technology, Wi-Fi, and NFC as it allows businesses to leverage the accurate location of the visitors and sends them contextual and relevant notifications. Studies reveal that proximity marketing market is expected to grow by US$77.8 billion during 2019-2025. Huge companies worldwide are going to pick up this method to improve their business strategies and increase their bottom line. GEOFENCING – Within a virtual boundary, geofencing works as a service that can trigger an action when devices enter or exit the boundary. Actions such as notifications, coupons, engaging offers, safety tips, etc. can be projected via this method, provided the facility integrates their communication with an app. Few geofences are set up only to monitor the security of the visitors and the management. Businesses such as convention centers, shopping malls, large retail business, etc. can use this method to automate time cards, track assets, monitor users within the designated field and much more. Location-Based Marketing (LBM) for Diverse Industries Location-based marketing is undoubtedly the best marketing strategy that can be used via mobile phones and offer the visitors and the owners of the industries a handful of benefits. Look at how LBM can help these industries: Location-Based Marketing in Retail Businesses Retail business solely relies on the user’s location and LBM precisely provides them with the same information. Location becomes the pivotal factor in the retail business as it improves the conversion chances of the