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:
RFID targeting helps B2B companies achieve a higher degree of precision by leveraging labor-efficient solutions at better velocities. Not only is the process of targeting hassle-free but it also facilitates the marketers to tag their audiences & prospects on the basis of their preferences & then allows the creation of personalized content for them, in order to attract their attention to optimize the Return on Marketing Investment (ROMI).
A study by Salesforce depicts that, of all the users availing location-based services, 80% are interested in receiving alerts from the business companies that they are interested in. Customers are targeted based on their GPS, Bluetooth & Beacons.
Geofencing allows sending customers targeted messages according to their geographical area (when they enter a particular area, alerts vary compared to other areas). Proximity beacons are devices transmitting relevant & targeted messages to nearby mobile users while geotargeting as well as customizing the content for the users based on their geographies.
Combining geofencing, geotargeting & beaconing with the intent data of prospects & several other data-points can help in creating hyper-personalized content to attract, engage & optimize the sales' conversions.
According to a study by IBM, 70% of a typical distribution center cost is represented by labor.
For most companies, providing products or services to customers in real-time is a challenge that can be combated with the help of geofencing, accompanied by targeted pieces of content.
Geofencing assists B2B businesses to better comply with the demands of the prospects by enabling integrated & all-encompassing solutions based on real-time marketing tactics as well as helping in integrating the data from the cluster audience to create targeted pieces of content.
Engaging audiences on Facebook, using Geotargeting helps marketers generate a greater Return on Marketing Investment (ROMI). Targeting specific niche-based audiences is easier. The audiences are filtered on the basis of their specific interests, their geographical areas, the technologies they use, the current job titles that they hold, etc.
Serving tailor-made pieces of content to a smaller niche audience helps in:
Geofencing is one of the most impactful targeting technologies & can be put to use on SnapChat as well. When designing ads for SnapChat audiences, the marketers must ensure that not only the ads being designed are eye-catching & relevant but they have also been served to the audiences based on the job titles they hold & the technologies being used by them in current designations.
Split-testing the new creative initiatives for attracting prospects, experimenting with call-to-action buttons and other targeting parameters used in serving personalized ads through mobile devices - can engage & convert a higher proportion of prospects & can help in bolstering the Return on Investment (ROI).
According to a report by linkedselling.com, 70% of the marketers agree that LinkedIn is an effective marketing channel. Considering the fact that LinkedIn is a professional networking site & holds a special place for B2B marketers, LinkedIn advertising can be used to geofence audiences & also to target them based on their demography, the technological requirements of their firm & their past researching methodologies & purchase-history. These data points along with the intent-data of the prospects can be used to target audiences by leveraging several spectrums of omnichannel marketing and an impactful content strategy can be designed to attract, engage & convert the prospects.
Moreover, users don’t convert right after they have been served with an ad & some of them may require re-targeting. A lead acquired on LinkedIn, for example, which has surpassed the awareness stage can be retargeted on other social media platforms such as Facebook & Twitter, using the RFID insights & can be used to generate a greater number of conversions.
Thus, geofencing & retargeting helps in intertwining social media targeting endeavors, for optimizing conversions.
Geofencing helps in tracking & targeting the number of attendees who have expressed their interest in a specific type of content by signing up for a webinar.
Such leads can further be nurtured & tactfully guided down the sales funnel by feeding them with specific pieces of content.
Furthermore, the geofencing data of prospects on a website can also be used to track the repetitive visitors on the website, who show a greater intent to buy. Combing the intent data of the prospects to their psychographic data can further be used to create targeted & relevant content so as to optimize the sales conversions for marketers.
Combining geofencing solutions with well-strategized ads or offers, based on the location, event or actions of the users helps in maximizing the endeavors of ad placement & execution. It also improves the Click-Through Rates (CTR) & the quality of impressions being served to the prospects.
Anyone within a particular geography who has been looking for something similar that a B2B marketer has to offer can be targeted by the marketers using RFID technic. Geofencing applications can track IP addresses of the prospects to derive their physical locations & business names.
With the business names coming in handy, Account-Based Marketing (ABM) can be used to target the key decision makers in a firm based on the technographic, firmographic & psychographic data of the prospects, which, in turn, can be collected from third-party tools or from the automated & integrated tools within a Customer Relationship Management (CRM) system.
With RFID there is an incredible scope for re-targeting in order to convert the prospects to customers by - email marketing, social media channels, cold-calling & other forms of digital advertising.
The biggest blockade in the path of implementing geofencing is that the marketers have to ensure that their targeting tactics across omnichannel abides by GDPR & under no circumstances, the privacy of the prospects is violated.
We, at Valasys Media, provide our clients with content syndication & Account-Based Marketing services, which are aimed towards optimizing their Return on Investment (ROI).
Our other services such as Lead generation, nurturing & content discovery services have been designed to help marketers get the best results of their social media marketing & other digital advertising endeavors. Special care is taken by us to deliver GDPR-compliant services so that the marketers don’t fall into any legal complications that might adversely impact their reputation & brand equity.
For more information on our services, feel free to contact us.
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.