What location-based marketing does?
Gone are the days when companies had to conduct tiresome studies on preferences and the local culture before entering a new market. Technologies like smart-phones, beacons, GPS, sensors and geo-maps have certainly given location-based marketing great impetus in the recent times. Now, as the concept has emerged powerfully, marketers are able to hyper-localize their marketing strategies and come up with marketing plans that are suited to the preferences of consumers within their geographic location.
Location-based marketing has also made it possible for marketers and retailers to foster more personal relationship with their consumers. Information on availability of products, different payment options, feedback and reviews, etc. is one great thing location-based marketing has to offer to consumers today. All these have a crucial role to play in shaping consumers’ purchase decisions. As such, marketers should never underestimate the influence of location-based marketing in today’s competitive marketing world.
Why marketers need it today?
There’s no denying the fact that location-based marketing is extremely important for brand marketers today. The following are a few points to justify this:
Pushes people to take immediate action
If marketers want more visitors to retail outlets, location-based marketing can help them do so. iBeacon technology can help them connect with potential consumers directly when they are somewhere close to the store. This can be done by sending lucrative offers relevant to their needs, thus enticing them to come and make a purchase.
Creates multiple touch points
One good part of location-based marketing is that it creates multiple touch points with consumers. One location can have several unique beacons, each having a different message. This gives marketers many opportunities to connect with consumers and push them to take action. The ability to market to a consumer’s location and sending relevant offers in real time is what makes beacons so useful in location-based marketing.
Provides consumer analytics
Apps powered by beacon technology can provide marketers with the access to insightful analytical data on consumer behavior. They are able to measure the number of footfalls to their store and refine their marketing strategies based on such data. Location-based marketing through beacon-powered apps can help marketers in analyzing the performance of their campaigns and plan better ones in the future.
Builds better relationships
Consumers today want personalization. In fact, they tend to trust ads that strike an emotional chord with them. Location-based marketing makes it possible for marketers to personalize their advertising campaign according to consumers’ needs. It helps them build better relationships with consumers by giving them relevant offers. Marketers are also likely to drive brand engagement by establishing a direct line of communication between them and consumers.
Improves competitive position
All big brands, starting from Starbucks and McDonald’s to Nike and American Airlines, have invested whopping sums on location-based marketing. It is predicted that location-targeted mobile advertising will reach $15.7 billion in 2018. It won’t be wrong to say that location-based marketing will be an integral component of brands’ marketing strategies. As such, investment in location-based marketing is therefore important for today’s marketers to rise above the competition.
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