Geofencing or Radio Frequency Identification technology (RFID) is a technology that leverages virtual geographical perimeter targeting around any specific location, building, convention center or space that can be identified on a map & can be used for hyper-targeting sales’ prospects. The technology operates on a geographical radii-based targeting, wherein any mobile user, who has opted-in & provided his content to be targeted for marketing, can be tracked, & based on their interest areas personalized ad-campaigns can be used to target them. Delivering hyper-personalized content to the geo-targeted users, in-turn is used to optimize their experiences which help the B2B marketers in achieving their bottom-line goal of optimizing their Return on Investment (ROI). According to a study published by b2bcommunity.com: 70% of the B2B marketers are willing to share their location if they get some useful information about their buying interests in return for the information they provide. While 60% customers search local information about businesses on their mobile devices. Geofencing is a new concept & the next big thing for marketers who wish to target their audiences based on geographical radii & wish to launch specific geo-targeted ad-campaigns with well-tailored segment-specific content strategies to boost the experiences of their buying prospects. According to a study by Mobile Marketer, Geofencing is capable of generating twice as many Click-Through Rates (CTR) than normal mobile advertising. Furthermore, a study by Search Engine Land implies that geo-targeted mobile display advertising helps marketers achieve twice as many Click-Through Rates (CTR) as the standard industry benchmark. Audiences can be segmented into separate clusters based on their intent data, their demographic, firmographic, technographic, psychographic & cookie-data. Moreover, the audiences & prospects can also be refined using their cookie-data, past researching methodologies & their buying history. Before targeting the audiences using Geofencing or RFID, the most important caution to be taken is that the ad-targeting must be GDPR-compliant. If any targeting overlooks the preferences of the prospects, the violation of the GDPR norms can be perceived as creepy for the prospects & the company may have to pay penalties.
Usage of Geofencing or RFID in B2B Marketing:According to a study conducted by Salesforce, Geofencing technology is compatible with 92% of U.S smartphones & can be used by B2B marketers in the following ways:
- Facilitate Precise Targeting To A Specific Cluster Persona:
- Use Geofencing with Geotargeting & Beaconing for Targeted Marketing:
- Minimize Cost on Procurement & Logistics & Supply Chain Management & Allow Real-Time Solutions:
- Geofencing Campaigns On Facebook:
- Driving greater awareness amongst the prospects,
- Better-engaging the audiences based on their buying preferences & based on their research methodologies
- Optimize conversions through Facebook marketing endeavors by instigating audiences to press the Call-To-Action (CTA) buttons, asking them to sign-up for webinars & compelling them to perform other sets of actions that will optimize the conversions from the Facebook marketing.
- Employing SnapChat Geofencing Filters:
- Useful For Re-Targeting Audiences Across Several Social Media Platforms:
- Tracking & Targeting The Total Number Of Attendees For Webinars & The Number Of Engaged Prospects On The Website: