Geo location is not a new concept, it’s been around as long as geocaching has. For those who don’t know, geo caching is the art of using GPS signals to locate an object, usually a container, so you can sign your name on it. Geo location is a bit like the search for that canister. You’re using coordinates on a map to find your customers.
GPS isn’t new, but how we can use it has evolved. Here are some of the important changes marketers need to consider.
Hyper Local Targeting
One of the biggest changes has to do with proximity of targeting. Geo-targeting was never as effective as it can be today. With lat/long targeting, marketers can target users who frequent certain locations. Think about car dealerships that compete for business in a heavily trafficked area. One dealership could offer targeted incentives for a better price or upgrades.
Localized targeting presents a significant opportunity for local businesses to compete in larger cities, developing a brand presence and presenting value to users at a cost they can afford. The volume of people in those areas isn’t as high as the World Wide Web, but the traffic is likely to be highly targeted or motivated to buy a certain product or service.
The costs will be lower using this method of targeting purely because the volume of people reached is lower. Even if the rates were at a modified premium, advertisers could still potentially pay less for conversion than trying to localize ads to a city or town.
Bio: Ted Dhanik is the CEO of engage:BDR, a digital advertising company. Ted Dhanik is passionate about marketing . Since the early 2000s, Ted Dhanik has sold engaging ads and offered advice through blogs.