24 Jun 2021
Last Updated: 28 May 2021 | 8 min read
Businesses, whether large or small, have always been in search of creative ways to target their audience. In that regard, geofencing ticks all the boxes. It’s nothing less than a boon to every business using it. Here you’ll learn about what you can gain from geofencing.
A small business’s boat will sink without customers to keep it afloat in the tumultuous ocean of commerce. This statement may sound philosophical, but it’s true to the bone. Larger businesses won’t crash and succumb if they lose a customer, but every patron is crucial for small businesses.
If you’re the owner of a small business, you know it better than most. You’re perfectly accustomed to interacting with your clients every day, which means you can acknowledge their value.
Just take a moment to consider how much it costs you to get the attention of one customer. If you don’t know anything about the expenses associated with it, you’re in a deep creek without a paddle to help you stay above the water.
When customer acquisition costs start building up, they will snowball and affect your company profoundly. You should consider focusing on retaining customers instead of attempting to gain new ones during such a situation. In doing so, you’ll increase your chances of selling something to a buyer as opposed to a prospect.
However, retention strategies can get stale after some time. What will you do once your methods don’t yield results anymore? You have to resort to new technological measures to assist your efforts, and one such new-age technology is geofencing. Apart from getting your existing customers to spend more money, it will help you acquire new buyers.
If geofencing is a new term to you, you need to go through this write-up. Here you’ll learn everything about it.
If you’re willing to utilize geofencing strategies, you need to purchase a ticket to the mobile app development express. If you already have one, you should give yourself a pat on the back because you already took the first step. Those who don’t have a mobile app must be wondering whether it’s worthwhile or not. No matter how many educational resources you come across on the internet, you’ll find at least one common statement – every business needs a mobile app. You should also know that you have to spend money to earn money when it comes to running a business. So, why not get an app developed when you still have enough time instead of moping over your decision in the future? Besides, almost 95% of all consumers rely on their mobile devices to seek out local businesses. Do you still need more convincing?
Now that your app is ready, it’s time to find out what geofencing does and how. Geofencing will let you target every individual who downloads and uses your app. This group includes both existing customers, as well as prospective. After all, just because someone downloads your app doesn’t mean he/she will use it to buy something from you. Don’t think about it for now.
At the moment, just concentrate on what geofencing is all about. It simply uses GPS tech to monitor the position of each person who has your application. You have to create a virtual barrier around a specific location and it will kick into action whenever a user enters the area.
Regardless of the kind of business you run, you may need to hire drivers and let them do the legwork for a variety of reasons. With geofencing at your disposal, you’ll receive a notification whenever a driver abandons his/her territory. As a result, you ensure that you keep your employees in line and accountable for what they do. You also ascertain that they don’t waste time. Having a fleet of vehicles out on the streets is a massive investment, and you’re perfectly aware of it. Geofencing will come in handy when you need to prevent them from getting stolen or sustaining irreparable damages. It’s surely something you’ll appreciate, especially if you’re in the business of delivering goods or services.
Is there a way to make your existing customers spend more money on what you have to offer? As long as you have geofencing, you can make them do it. Just think for a moment that you own a restaurant. Whenever someone passes through the boundaries of your geofenced area, they’ll get a notification. You shouldn’t make the mistake of believing that only restaurants and eateries can benefit from it. Any business can leverage geofencing to climb the ladder of success. If you’re creative enough, you can even use it to get more foot traffic through the front door during slow hours. However, you mustn’t go overboard with sending notifications. Market researchers have evidence to prove that when notifications start to become annoying, customers will simply start avoiding you. Make sure to use geofencing strategically.
Well, it’s time to wrap up this write-up even when there’s a lot more about geofencing you need to know. Apart from allowing you to do everything described above, you can use it for brand awareness promotion, sending exclusive offers, personalizing customer experiences, offering online shopping services, and maintaining relevance in the market. However, all of it will be possible only when you have a mobile application crafted specifically for your business. As soon as you launch it, incorporate geofencing technologies and tactics to increase your earnings. Geofencing can promote your brand and remind your existing buyers about everything you have to offer. It can even encourage a few prospects that downloaded your app but never used it to purchase something.
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