Geofencing is another outstanding advertising product for advertisers looking to acquire more of their competitors local marketshare by setting up “virtual advertising perimeters” of their competitor’s locations.
Geofencing is where the location-based data of a mobile phone can be used to advertise (a local business) – to their targeted audience within a virtual zone.
How Geofencing Works
This is done by “virtually fencing off” a designated area & then sending a relevant advertising messages to smartphone users that enter into only that specific zone
Imagine being able to deliver your ads ONLY within a specific area on a map & then targeting potential customers to see those ads directly.
(Ex) Deliver your ads to all of the people in a stadium attending a game
Helpful Auto Dealership Geofencing Stats:
Before a consumer buys a vehicle, almost 50% of users research auto information using their smartphones.
Of all auto buyers, 23% researched or shopped while at a dealership using their mobile phones.
Example of Geofencing a car dealership
The top 5 uses of a mobile phone at a car dealership are:
59% compared prices for vehicles at other dealerships