Whether you have a brick and mortar business or are ecommerce only, you probably just know that there are customers way outside your local range that could benefit from what you sell.
What are the best ways to find the most likely new customers – both inside and outside of your local area?
At the This Just Works digital event, the VP of Marketing at Reveal Mobile Dan Dillon walked us through 3 segments to geo-target relative to location-based marketing.
- Retargeting your customers
- Target your competitor’s customers
- Target where else your target audience goes
This session was presented at This Just Works, the digital anti-conference. You can see the full session (and 14 other talks) by registering here with code TJWAG2020.
1. Retargeting your customers
“This is a really key segment to think about because what you can do with this segment is retarget those who are not in your CRM. You might have email addresses, first and last names, or dates of birth. But for those people who you don’t have information on in your database, you can still know that they’ve come to your store,” says Dan.
“They may have come in the past, they may not be coming today. But by virtue of targeting your existing customers, it’s your safest bet for more engagement.”
If you don’t have these people in your CRM, how do you reach them in the first place?
“That’s where geotargeting really comes in. By virtue of people carrying a phone in their pocket every day and flowing in and out of stores, you can access custom audiences based on mobile ad IDs,” says Dan.
These are people who’ve shown up in your stores in the past and you can build those audiences. Once you have those mobile ad IDs or “MAIDS” for short, it’s easy to target them and market to them by simply building custom audiences inside of social media and any platform.
“With that custom audience, you can run really highly targeted campaigns based on people you know, have been to your locations in the past,” says Dan.
2. Targeting your competitors’ customers
“Moe’s is a quick-serve restaurant that specializes in Tex Mex food. Moe’s is really well known for an appetizer on their menu. And there was an established competitor on the scene who was launching their own version of that appetizer. Moe’s was a little nervous about that and they didn’t want their market share to diminish as a result,” shares Dan.
“What they did to counter was to essentially invite all of their diners to download their app and redeem a coupon or coupon for what the case so did right what they’re famous for. They did this to make sure they can increase their foot traffic to their existing restaurants, and also ideally win over competitive customers who might have been tempted to go to that other restaurant and try that appetizer.”
Moe’s did this competitor customer target through advertisements across social media, and actually they used custom audiences.
“First of all, they geo-fenced their own restaurants and their direct competitors in the Raleigh North Carolina area. They also geo-fenced their indirect competitors. In the aggregate, they got an audience of about 20,000 people that they could address,” noted Dan.
Moe’s pushed that audience up into Facebook and Facebook had accounted for 85% of those people. And that made those 17,000 people the core of Moe’s campaigns to make sure they could retain their dining audience – and also try to win over some existing or competitive audiences.
Because of this, Moe’s saw a 67% increase in app download conversions.
3. Target where else your target audience goes
You may not always know exactly where each person goes for various needs, but you can make smart guesses about the best areas to target.
“Think about it in terms of store locations that may have an affinity for your brand. Think about where people go, who you want to target, and what other brands they have an affinity for,” says Dan.
If there’s something you know you do, there are audiences you can geo-target right now if you simply geo-fence stores in your area. These are people who have an affinity for the product you’re trying to market and sell to.
People who visit grocery stores might also be interested in:
- Brands that offer grocery or home goods delivery
- Stores that offer online shopping and pickup services
People who visit home improvement and hardware stores might be interested in:
- Brands that sell furniture, decor, container gardening
- Craft-oriented brands that target DIY fans
You have 3 audiences to geo-target…now what?
“Let me walk you through this,” says Dan.
All of the social media platforms available accept mobile ad IDs (MAIDS), like:
Taking info from geofencing and adding it to Facebook is a fast way to increase the audience you can target.
“You can pull these mobile entities out of Visit Local, which is a geofencing product, and drop them right into these social media platforms. It’s a combination of pulling your audiences down, and then uploading them up into your social media platform of choice.”
Brand Equation, a Reveal Mobile customer, saw that their geo-fenced audiences converted at 1.21%. Compared to their standard retargeting click-through rate of 0.64% and 0.38%, a 246% jump in conversions was great! And it all comes from geotargeting and geofencing.
Conclusion: 3 key takeaways to remember
Geotarget your customers, your competitor’s customers, and wherever else you know your target audience visits
Think outside the box to find high-intent audiences – even when foot traffic is down
Use these audiences across social media and your demand-side platforms (DSPs) for campaigns that just work
If you’re just getting started with geo-targeting, make sure that you articulate your goals clearly. Make sure they are measurable, make sure they’re timely, and make sure they’re achievable.
To download the full recorded This Just Works digital event, go here to register with code TJWAG2020!