Geofencing can help you post the right content for your target group on mobile devices. In the B2B segment, this technology is mainly used within account-based marketing campaigns. But other cases of application are also an option.
What is geofencing?
A geofence is a virtual border in space. When this border is crossed, usually determined by GPS coordinates or sender/receiver systems, geofencing triggers an action. The action can be a blocking of wheels on a shopping trolley if these leave their predefined area. Or the sending of push messages to a smartphone when the device’s owner enters a predefined space. The possibilities for use are varied – but especially when it comes to location-based marketing does geofencing offer enormous potential. This is because there is the option to stream advertising messages via the respective apps within a defined area on customers’ mobile devices.
Geofencing as a part of account-based marketing for B2B
For brick-and-mortar companies in the B2C segment, this technology provides the perfect opportunity to address potential customers. If these customers are near the shop, a discount voucher, for instance, can appear on their smartphone’s display. Customers are therefore reachable for triggering a direct impulse on-site, granted they have downloaded the respective app and agreed to receive such messages.
But in the B2B segment, too, geofencing is suitable as a marketing tool. Particularly as a building block for account-based marketing, this technology has proven it is useful for B2B. What’s needed beforehand, however, is a list of accounts you want to address that can be clustered according to various characteristics. Usually, such lists also include the location of the companies the customer has viewed.
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With geofencing, ads like Google Ads or ads on social networks can be limited to clearly defined locations where the desired company is located. And this not only goes for entire cities, but also individual streets. Combined with additional target group settings, such as the type of contact person, the messages reach the targeted group of persons even more precisely. Financial and human resources are efficiently used as a result, and scatter loss is minimised.
Find out how the IT service provider IT-HAUS was able to leverage geofencing to finalise a successful account-based marketing campaign in the Visable guide Account-based marketing for B2B: requirements and benefits.
Geofencing and beacons at trade shows
At trade shows, too, and similar events, B2B companies can use geofencing. Thanks to this technology, visitors receive information about offers from individual exhibitors when they are near an exhibitor’s booth. If an interested person is located in a certain area of a hall for a longer period of time, it could make sense to suggest to this person other areas with similar exhibitors. With GPS technology for geofencing, precision down to the metre is possible – and with so-called beacons, even down to the centimetre. These small apparatuses communicate via Bluetooth® with compatible devices in the immediate vicinity.
Geoconquesting: winning customers from the competition
The virtual border in geofencing can be extended to also include the location of a direct competitor. This is called geoconquesting. In this way, customers from the competition can be made aware of your own offers. These customers are usually identical to your own target group, as they have demonstrated a heightened interest in the respective products or services. With a convincing offer, these customers can possibly be won over from competitors.
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