Marketing has quickly become an impenetrable part of any successful business, with company leaders focusing titanic amounts of effort and resources into this sector. But as time progresses, so do effective marketing strategies. Gone are the days of simple posters and brochures. In fact, many businesses are focusing on geomarketing, a location based marketing strategy. As we delve deeper into this topic, we will discuss how you can use this technique to allow your business to reach new heights.
What is Geomarketing?
As mentioned previously, geomarketing is considered to be a location based tool. This technique uses location-based data to analyse developing customer trends. In turn, this data can help your business create new and innovative marketing strategies that are in line with the demands of your customer base. Geomarketing may be a new insight into our markets, but it has been very well received by potential customers. A survey from Search Engine Journal describes that ‘72% of customers say that they trust local businesses with good reviews. That means more businesses, which means more customer data, and better geomarketing.’ This informs us that local data greatly impacts the opinions and choices of customers, proving that geomarketing has a positive effect on potential revenue streams.
What can Geomarketing tell us?
Geomarketing offers more than just simple quantitative data. This superior tool can also provide a deeper understanding of local SEO trends. As a result, geomarketing can help your business build a stronger understanding of what your customers are searching for online. Thus, you can shape your marketing copy around these key terms.
Moreover, geomarketing can give us more information about what type of customer is reviewing your product or service. Due to its location based properties, you can use geomarketing to track the landmarks your customer is interacting with, which can help you determine whether your local area is a suitable spot for new developments.
Finally, geomarketing helps to paint a picture of your competitive landscape, giving you insights of your competitors actions. Due to the rich nature of geomarketing, you are able to filter through this data and spot profitable gaps in your respected market.
Benefits of Geomarketing
So, how can geomarketing benefit your overall business growth? Firstly, geomarketing is a paramount tool for helping your business get ahead of the curve. Since geomarketing data can be quickly obtained through SEO trends, changes in market data can be quickly spotted. In turn, your business will be better able to diversify and improve its marketing strategy, giving you that much needed edge in a saturated market.
Social media has become an invaluable asset to any marketing department as it offers the most accessible geomarketing data. Due to the ever changing nature of these platforms, customers are quick to post their opinions of local businesses as a way to communicate with their peers and wider community. Therefore, data from social media can be an effective and efficient way to scope how your customers are reacting to the products or services provided by your business.
Lastly, geomarketing is a grand step towards a completely digital marketing strategy. Successful businesses are no longer creating traditional, or even tangible, marketing resources. Instead, they are using a wide range of digital techniques to connect and influence a wider collection of audiences. Thus, geomarketing can be viewed as an integral way to push your online presence.
How does YourParkingSpace use Geomarketing?
At YourParkingSpace, we are proud to be leading the way and working hard to revolutionise the parking industry. Our geomarketing strategy aids us in delving into untapped markets, by giving us prime information about where our app is being used, as well as the surrounding perimeter of that area.
Adding on to this, YourParkingSpace also makes effective use of push notifications. These are pop-up messages that can appear on a potential customer’s device, if they are within a select perimeter of one of our parking facilities. This helps us catch the valuable attention of passing customers, and gain data surrounding their parking preferences.
Geomarketing is often presented as an elusive and complex marketing strategy. But in fact, it is a simple way to gather essential data on the nuances of your customer base. This technique has been a lifeline for many businesses, helping them dominate competitive markets and come out on top.
Ibis (2017), What Is Geomarketing And How Can It Benefit Your Small Business?, Available at: https://ibisstudio.com/what-is-geomarketing-and-how-can-it-benefit-your-small-business/