A dealership's guide to Addressable Geo-Fence with Targeted Display ads
More and more dealerships are turning to Addressable Geo-Fence with Targeted Display Ads to conquest competitors and drive more sales. This blog post will provide an overview of addressable geofencing, how it works, and how you can get started implementing your campaign.
What is Addressable Geofencing?
Addressable geofencing uses property line data to target consumers in a specified area and reach them with relevant ads. This allows dealerships to customize their campaigns based on the location of potential customers (including a competitor’s location), ensuring that the right people are being served the right ad at the right time. Furthermore, businesses can use their location as a “conversion zone” to track foot traffic of those who have seen an ad. This type of marketing is a powerful tool for businesses wanting to reach their target audiences in specific locations and increase customer engagement.
How Technology is Used in Addressable Geofencing
Addressable geofencing uses mobile-specific technology to target customers within a certain geographic area. It works by creating a virtual boundary, or “fence”, around an area where target customers are.
GPS (Global Positioning System) is used to track the location data of the target customer and is typically sent from their device, such as a cell phone. This allows businesses to serve the customer's a targeted advertisement within a specific geographic area.
These are essential components of addressable geofencing as they allow businesses to identify potential customers in that area and send them custom messages tailored specifically to them.
The Benefits of Leveraging First-Party Data with Addressable Geofencing
Businesses can make the most of this technology by leveraging first-party data. First-party data refers to the data companies collect from customer interactions and activities, such as website visits or purchases made on an app. This kind of data gives businesses valuable insight into their customer’s interests, behaviors, and preferences, which they can then use to create more personalized messages through targeted display ads. This kind of personalization helps increase engagement and conversion rates for businesses by providing customers with relevant content based on their needs and interests. For example, imagine that a potential customer is looking at their phone while sitting in an office at one of your competitors, waiting on a trade appraisal. As he or she scrolls through their mobile phone, they receive an ad from you that says, “Bring us your trade-in offer from X dealership, and we'll pay you $500 more, Guaranteed!”
Additionally, addressable geofencing uses technology that suppresses ads, so employees of that location will not waste your budget, allowing businesses to target their desired customers with the precise vehicle they want and re-targeting multiple consumers up to 30 days after they have left the specified address.
Setting Up an Effective Addressable Geofencing Campaign
Addressable geofencing is a powerful and cost-effective marketing tool that can be used to target customers within a certain geographic area. Here are the steps to get started with addressable geofencing and set up an effective campaign:
1. Establish your goals. First, you need to determine what you hope to achieve from your campaign. The more specific, the better.
2. Set up your campaign parameters. Decide which areas to target and how specific the targeting should be (e.g., specific location, multiple locations, a building, a block, etc.). Additionally, consider setting up rules for when the ads should be served (days of the week/time of day) and budget limits, so you don’t overspend on your campaigns.
3. Implement tracking measures. Tracking your ad results is important so that you know what’s working and what needs improvement. This step will help ensure you get the most out of your campaigns by allowing you to adjust your strategy based on performance indicators such as the number of prospects that interacted with the ad and physically showed up at your business, click-through rate (CTR), cost per click (CPC), trade-in, service, sale, etc.
Contact Digital Downforce to set up an addressable geo-fencing campaign tailored specifically for your dealership.