Marketing is getting more complex by the minute. Marketing experts know that it is a complicated endeavor. With so many moving bits and pieces around, it can be hard to decide what you should focus on. What mediums should you prioritize? How to narrow down your target audience? Whether you should be focusing on the social platforms to drive in traffic to your e-commerce stores or use SEO to bring masses to your brick and mortar business. The choices are endless but the results need to be carefully studied so that you only chose nothing but the best for your business. There is a solution for you that works like a charm and it’s called Location Based Marketing (LBM).
Location Based Marketing
Location based marketing is a recent term that is paving its way into the marketing business and is here to stay for long.
Imagine you are browsing a website on a cold winter morning in LA and you see an ad of hot fresh brewing coffee from a Starbucks nearby. This has been a marketer’s dream and work is in progress to make systems that take geolocation to target customers in a similar fashion.
Location based marketing, although in its initial phases with a lot of work to be done on the accuracy of the data and the target user, will change the way people see advertisements all around them.
By focusing on using additional information that is available on your website such as geolocation, you can really make your conversion rate hit a new high.
So what is location based pricing and what has for you to be interested in?
What is Location Based Pricing?
Geotargeting uses a customer’s location to push forward marketing campaigns. Software with geotargeting capabilities uses the users’ IP address or ISPs to find what city the user is accessing your site from. Different areas support different incomes, age groups and have a different gender make up than their neighbors.
By utilizing this information, you can transform your marketing campaign with significantly less effort.
Here are the 5 best ways to utilize location based marketing to work wonders for your business:
1. Nationwide Stores with Multiple Location Based Pricing
If you have multiple e-commerce stores working in different locations around the world you can use geolocation to price your items based on each location.
This essentially means you can combine the user’s location data you have with the knowledge of the region’s buying power to set different prices for your products.
For instance, if your users are based in LA and Washington or Portland, you can use higher prices for LA as compared to the ones in Washington or Portland. Use separate landing pages for people coming to your website through different locations. This has proven to work immensely well for many businesses out there.
2. Retargeting your Customers based on Location
By using customer location data in combination with drip email segmentation you can go for a retargeting drive and incentivize your customers to visit a local store.
This is the best way out there to use an email automation sequence to attract masses to your physical store via your online presence i.e. social media or website/apps. This is a really smart marketing tactic, especially for people with a physical store.
There is a company called Evo in the Pacific Northwest which uses retargeting to drive traffic to their store by utilizing the location data of its customers. They offer a 10% discount to their customers who have landed on their site and then go to the physical store to redeem it.
What they are trying to achieve with their location based marketing tactic is greater local traffic, increased email capture for specific areas and improved site visits.
3. Collaborate with Local Stores
Collaborating with around 10 local stores in a 5-10 mile radius of your store to give additional discounts to customers who come in with the store’s receipt is another major marketing concept practiced to achieve massive results.
By portraying yourself as a part of the community you are building on your trust and brand loyalty for your local customers. They now associate you with their trusted stores and this greatly helps you augment people’s interest in you as a brand. They will feel more confident buying from you than if they were to buy from a new business in town which they never heard about.
4. Combine Local Events
If there is a local event in Portland put that in your newsletters to encourage people to visit the stores and while they are visiting the event, they can have an additional discount to visit your nearby store.
This is how you give them the incentive to come to you.
5. Use Location on Ads
Using location based wordings and graphics in your ads make your website or landing-page appear more personal. People like conversational commerce.
Target your visitors with local data, for example, ‘Hello Portland Homeowners’ sound more personal than just ‘Hello Homeowners’.
Or something like,
‘Hey, I’m determined to make you a success in Los Angeles California. There are 30 thousand success stories in LA and you can be one of them.’
This attracts more customers as it becomes more personal and relevant to them.
In conclusion, marketing is not an easy task but concepts and practices like geotargeting and location based marketing can make it much easier. With these 5 basic ways, you can increase your marketing campaign conversion rate and increase ten folds on your brand loyalty. It will help you build a relationship with your customers, this essentially improves your brand image. Most importantly it increases your revenues.
Do you think location based marketing can work for your business? And how will you use these five tactics to make them work for you? Let us know in the comments.