If you remember my blog from earlier this year, the word geo-conquesting should sound familiar. Geo-conquesting is when you target customers that are near your business’ competitors and try to pull them away with a message in real-time. This is all based on location targeting. And according to MDG Advertising, 53% of consumers are more likely to engage with location-based advertising. This type of advertising usually yields high ROI because the messages sent are relevant and highly targeted. Furthermore, according to a Pew Research Study, the average young adult looks at their phone a whopping 109 times a day.
Here are some of the industries and retail categories that can benefit from geo-conquesting:
- Businesses that sell bigger items like furniture or automobiles will have more of an appeal because of the infrequency with which people make those purchases. The bigger the savings, the more enticing to customers they will be. Saving a few hundred dollars on a vehicle will encourage someone to drive across town to get a look at your prices.
- On the other end of the spectrum, industries such as retail, restaurants and gas stations can take advantage of this specific target marketing. These categories, plus other similar low-interest industries where there is a small window of thought before the purchase, can benefit too.
- Holidays and events are a great time to take advantage of geo-conquesting because stores will have a higher volume of traffic throughout the day.
- One way hotels could take advantage is by setting up geo-fences around nearby airports to attract incoming travelers. A great time to send these ads would be late at night and early in the morning to weary travelers and also during severe weather when flights would likely be cancelled and people will be looking for hotels.
The best way to develop successful campaigns through geo-conquesting is to first have a profound understanding of your competitors. You will need to find out why people are shopping at a competitor over your business or store.
Your mobile strategy should be equal parts of push and pull technique. A great way to really make your strategy shine is by using more customized alerts that have a time limit with them.
If you don’t think geo-conquesting is right for your business, be aware that the chances are your competitors are already doing it. Staying on top of digital marketing trends is vital for business success, so it might be time to reconsider.
Has geo-conquesting ever persuaded you to shop at a specific store?