The new millennium brought with it drastic shifts in technology. Physical newspapers, magazines, and maps are archaic compared to digital systems like social media, news apps and GPS. As the world rapidly progresses, people adapt. Now, it is weird if you DON’T rely on technology to aid with everyday tasks like driving and communicating. Technology dependence has created a world of its own. In this world, location data is king. Known as geotargeting, this marketing revolution will continue to disrupt industries for years to come.
How Geotargeting Works
Geotargeting software can be found on every social media platform and most search engines. This technology utilizes GPS and cell towers to detect users’ locations. In the mid-2000’s, this tool was used to target states, cities and zip codes with location-specific advertisements. Geotargeting is still used in that way, but has become infinitely more complex when combined with strategy. National companies will run region specific ads on digital platforms with large aspects of the creative changing in accordance to the area.
Geofencing: The New Wave
The next big wave with geotargeting software functionality is geofencing. While geotargeting is focused on larger areas, geofencing takes location-based advertising to the next level. Now companies can target specific buildings, events and neighborhoods to reach an ultra-precise market. This level of direct messaging leads to substantially higher closing rates when used strategically. Storm-damage repair businesses run ads in select neighborhoods that have been hit by mother nature. Alcoholic beverage companies will run ads at concerts and events where their product is sold. Restaurants and food delivery apps will run ads on large apartment buildings during lunch and dinner rushes. This amount of control now allows companies to advertise where it matters most, increasing overall efficiency and return on investment.
Where Geotargeting Software is Heading
Geofencing is at the bleeding edge of Geotargeting software. However, the next three years will continue to see exponential advances in this technology. Namely, by incorporating the growing popularity of smart wearables. More and more people continue to take advantage of smart jewelry, watches, trackers and more for their fashion or fitness goals, generating greater amounts of accurate information for location-specific targeting.
For example, a potential purchaser could stroll past certain shops every day while wearing their smart watch. Geotargeting software recognizes their location while also accounting for information provided by the watch, such as spending trends, time of day and personal interests, to market a specific product appealing to the customer at a time and place they are most likely to make a purchase.
As smart accessories become commonplace, location meta data will be seen as the new gold. Geotargeting software has been and will continue to build data points on sidewalk traffic, event attendance and building vacancy. As more data is collected, artificial intelligence will be implemented to scan this data for patterns. This will allow companies to make strategic marketing plans YEARS in advance with confidence.
Stay on the Bleeding Edge of Digital Marketing
With the burgeoning popularity of wearables and opportunities involving technological advancements in metadata collection, the development of geotargeting software is inevitable. As this technology evolves, promoting ultra-personalized ads will become commonplace and companies will be able to build stronger relationships with customers online. Every business should utilize geotargeting now to ensure their future in this space. Scheduling a consultation with Social Media Energy will give you the tools to further your understanding of geotargeting and take advantage of the opportunities coming with it in the next three years!