Mobile location targeting through Geofencing is becoming one of the hottest topics in the world of marketing & advertising. Defining Geo-Conquesting in simple terms would be targeting those potential customers who are difficult to convert due to the intense competition by attracting them with messages through real time, based on their location. In this post we will be discussing about how Geo-Conquesting helps in pulling customers.
The Geo-Conquesting process starts by setting up a virtual perimeter called Geofence around the locations of your top rivals. Following this step you can plan a specific time and day to target what your message will say. It is up to you to decide whether your message would be general like a banner in mobile apps or it would be more customized with time savings alert.
What the Experts Says
In the world of marketing, the practice of conquesting is not new. We have been witnessing running advertising for a product or a brand near editorial content. The most recent twist in the tactic is sending advertisements on mobile phones when they are around the premises of competing businesses. “Till date, there is not enough data on the effectiveness of geo-conquesting. The company is just seeing the click-through rates by the retailers who used these tactics across 17 Mother’s Day to promote gift items which includes baked goods, flowers and cards,” according to the CEO of location-centric mobile ad network Verve Mobile, Tom MacIsaac.
The company won’t be disclosing the names of any of the retailers who used it, but they confirmed that during the complete Mother’s Day week it pulled foot traffic to over seven thousand store locations, which means Geo-Conquesting led to about 30 percent higher click-through rate than standard geo-fencing.
“One more important thing is validating, as I am not sure marketers and advertisers are there on geo-conquesting completely,” added MacIsaac. Last week, xAd, competitor mobile location ad network, has released data which shows that marketers are progressively shifting to behavioral patterns and geo-fencing. In the first quarter, the share of campaigns using such “geo-precise” techniques has grown about 58 percent from 27 percent a year ago.
In March, the firm also told Screenwork that national advertisers who are setting up place-based targeting on their network, which is 2/3 of national advertisers, 9 out of 10 were doing competitive conquesting. Geo-conquesting was adopted across categories which don’t require an in-depth buy consideration including:
(#3) Financial Services/Insurance
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