How to Grow Leveraging New Geofencing Tech & Strategy by Tim Wolfley
Tim Wolfley has been in the digital marketing space for almost 15 years and comes on to talk about some recent technology changes around geofencing. Historically, geofencing has been intriguing, but due to limitations to pinpoint targeting impressions and budget could be wasted. Tim shares how accurate the targeting has become allowing for some new strategies businesses can utilize:
- Conquesting: This allows you to target the shoppers of your ideal competitors. You can then deliver media that helps differentiate your business from the competitors.
- Affinity: This strategy allows you to target your ideal customers that are shopping in “like” businesses. Let’s say you’re a higher-end pet store, and you think your customers would also likely shop at Wholefoods. You can then filter on demographics to narrow down those shoppers, such as targeting only pet owners to find the perfect affinity match.
- Recapture: Just like how you can retarget website visitors, this strategy allows you to target people who have shopped at your storefront so you can encourage them to continually come back.
Tim also talks about the importance of testing into campaigns. He encourages companies to be very leary of those marketing “expert” that says they know exactly how to approach a campaign. The reality is that we don’t have unlimited budgets so testing allows you to incrementally build your campaign out.
Finally, we talk about the power of video, especially in the year of social distancing.
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“Everyone should be doing retargeting, but if you have a retail store, especially in today’s climate where some people are uncomfortable going out shopping, I think those who are willing are raising their hands really tall and you’d be a fool not to be retargeting those people” Tim Wolfley