Thanks to the ubiquitous smartphone, there’s now an entirely new level of marketing available: Geofencing.
Geofencing is a location-based marketing tool that enables more active consumer focus. There are three ways to track a customer’s location: GPS, Bluetooth, and beacons, and each method finds and targets customers in different ways. And while it’s a relatively new technology, it’s important for marketers to be aware of- and understand – geofencing in order to help their company’s bottom line.
A solid 30% of the international population uses location-based services, and an overwhelming majority of them are open to receiving location-based alerts from businesses. This can help increase sales and loyalty, especially when paired with CRM data, because you can offer individual customers the messaging they need in order to make a conversion.
With 92% of U.S. smartphones capable of responding to geofencing, this is a powerful marketing tool that retailers and other location-based companies need to use.