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Geo-conquesting: All you need to know about itAdmin 25-11-2020
Have you ever received a message or notification from a store you just drove or walked past? Or received a message from your mobile operator when you entered or left your state? That is known as geofencing.
However, this post is not about geofencing. It is about geo-conquesting, which is the exact opposite of geofencing. It is a fairly new way of marketing your brand to your potential customers.
To understand geo-conquesting, you first need to understand what geofencing is.
What is Geofencing?
Geofencing is a marketing practice where a business or brand uses its geographical location to target potential customers of that area to attract them to their physical store. They use either their business application or other software and GPS or RFID tags along with the internet connection to trigger an action on the customer’s smartphone when they enter the area marked by the business to be their fence or a virtual boundary of their geofencing advertising.
As a business, you can send their consumers an SMS or a push notification to send them promotional content that can lure the consumers to the store where they can purchase your product or service.
Geofencing uses the consumer’s GPS data or the data from an RFID tag along with the network or a Wi-Fi connection to send these notifications. When a potential consumer walks or drives within the virtual boundary marked as your geo-fence, they will receive the notification or any other action that you have set to trigger.
What is Geo-Conquesting?
Geo-conquesting or competitor geofencing is a marketing tactic where a business or brand fences the competitor instead of fencing their own business. It may be the opposite of what geofencing is, but the goal is the same, to attract consumers.
In geo-conquesting, you put a fence around the competitor’s store. So whenever a potential customer enters the perimeter of that store, they will get a notification from your business offering better options, eventually turning them towards your business instead of your competitor’s.
The idea here is to create better advertising to appeal to those customers who are getting similar products or services from your competitors. If the deal you are offering is rewarding enough, then people might even drive over to your store from the doors of your competitors like they did in the Burger King and McDonald’s case.
Benefits of Geo-Conquesting
The good thing about geo-conquesting is that it works with the GPS of the consumer’s smartphone, and that allows you to target your consumers directly. You do not have to wait for your potential consumer to notice your ad and then come to your store when they need your product.
With competitor geofencing, you are targeting your consumers exactly when they have the highest purchasing intent, and that makes your advertisement even more relevant. When you fence your competitor, you know that customers going in or around that location need the product that your business offers too and that they are there to buy it.
People carry their phones everywhere they go, and when they are about to buy a product that your business offers, that is the best time to target them. And you are sure that you are not targeting others with low intent of purchase.
So then, how do you plan your competitor geofencing advertisement?
How to optimize your Geo-Conquesting Advertisement?
Before you start setting up a geo-fence around your competitor, you have to make sure that it will give you the results that you desire. For that, you should take care of the following things.
Location of your competitor
Knowing where you are going to put up a geo-fence is vital. It should be at most a 5-6 minute drive from your physical store. Any farther than that may not be effective unless you are offering an irresistible deal to your customers.
Consumers are likely to travel for about 10 minutes from home for regular or weekly purchases and no more than 20 minutes for infrequent purchases. That’s the most time they will take to reach your competitor’s store, and they might only leave the place and head over to your business if it is closer than a 10-minute drive.
Therefore, make sure that the competitor you are targeting is not that far from your location unless your campaign is as strong as Burger King’s.
Understand your consumers
You can target your customers more efficiently only when you properly know who they are. The needs and requirements of a 55-year-old rich, married woman living in Ohio will be different from a 16-year-old teenager from Dallas.
Here are some examples of questions that you need an answer to for a better understanding of your consumers.
Where do they live?
How young or old they are?
What is their gender?
What about their family?
What is their profession?
And so on…
Asking questions like these will help you identify your audience and understand them better so that you can offer them relevant offers and services.
Analyze your competitor
Your competitor is attracting customers in his/her own way. You need to know about your competitor just as much as you need to know about your consumers.
Here are other questions you might want to answer to analyze your competitor better:
What are they offering their consumers that you do not have?
What can you offer that your competitor cannot so you can leverage that to your benefit?
What marketing techniques of your competitor are successful in attracting consumers?
And so on…
Answers to these questions will help you develop a better strategy to attract more consumers to your store. They will also help you understand how does the consumer respond to that business.
Create ads that pull consumers
So, you set up a geo-fence around your competitor’s location, and you started sending messages and notifications to your customers as well. But if the content within that message or notification does not spark curiosity or interest in the customer’s mind, then chances are your marketing campaign may not work as well as you wanted it to work.
As you may have heard (or read!) many times, content is the king. You will have to create your messaging content so powerful that it pulls your potential customers out of your competitor’s store and towards yours.
Tell them about what you offer in the most compelling and relevant way, show them what are the benefits of purchasing from you. Let them know how your business is better than your competitor for the customers to attract them to your store.
Target the right customers
It may not give you the same results if you target loyal consumers of your competitor’s brand as it will if you target those who are not really connected with any brand. It is so because the latter is interested in the product or service more than the brand or business that offers it.
Those are the kind of customers that you need to target to get the most out of your geo-conquest marketing campaign. Customers who choose the product or service over the brand will be looking for a better deal so that they get more for what they pay.
If they receive your ad message or notification with the right deals, the chances of them driving or walking a little further to your store are higher than not.
Other than that, you can also retarget your loyal consumers. Those who prefer your brand over others but may go to your competitor on occasions are more likely to leave your competitor’s store and to yours if they receive a notification about an offer at your store.
Geo-conquesting or competitor geofencing is a great way to target your customers exactly when they have the highest purchasing intent. If proposed in the right way, this will give you a higher chance of getting them to purchase the product or service from your store instead of your competitor’s.
Competitor geofencing may seem like poaching the competition. However, it is only about who is better at marketing and advertising their brand.
What are your thoughts on the topic? Do share them with us in the comments section below. And for more interesting topics like these, stay tuned to our blog.