We used to attribute being “in the right place at the right time” to luck or good karma. However, today’s marketers aren’t leaving the connection up to chance. In fact, they are scouting out web-based hot spots or desirable locations to target consumers and simulate those “right place, right time” encounters using location data. Spotify is one of the biggest brands employing this strategy, using Geomarketing to create an unmatched user experience. In our hyper-connected world, this approach enables brands to bridge the gap between online and offline consumer behavior and drive a strategy across touchpoints.
Consumer brands aren’t the only ones poised to realize location data Marketing or Geomarketing’s potential. B2B organizations can take a page out of Spotify’s book by utilizing user data to implement a similar strategy.
B2B marketers are making a huge mistake by neglecting this approach, as it can allow them to use location data to personally target the decision-makers they need to reach. This data builds a digital footprint of where targets are spending time while painting a bigger picture of the customer journey. The insights from this Marketing method can, ultimately, allow B2B organizations to personalize their outreach based on the products and services each customer might consider. This also enables B2B marketers to build more efficient ad-targeting strategies and budget allocation.
As seen in the consumer space, Geomarketing is wildly successful – and still growing. Here are three reasons why B2B marketers should consider this approach.
- It helps you collect customer information. Geomarketing tools gather customer data, allowing your organization to gain a deeper understanding of your consumer’s buying habits. This holistic view of customers will enable your organization to personalize its outreach approach. As B2B buyers want to build a trusted and sustainable relationship with their supplier, Geomarketing tools can be the first touchpoint in the longer Sales cycle.
- It gives insight into your competition. With the use of Geomarketing tools, businesses can build an analysis of their competitors. This allows organizations to see who they are competing with for specific locations and how their performance stacks up.
- It is easy to customize. Using the customer data you collect, you can run multiple marketing campaigns in various locations while geotargeting your audience for a unique approach. Changing the location of the campaigns is simple and pain-free. Additionally, with Geomarketing, you have the ability to tweak your message based on the targeted audience, which enables you to personalize your approach based on the priorities of different decision-makers.
How Can You Implement Geomarketing?
Geotargeting typically relies on combining past location data with particular audience attributes. This tactic also looks at behaviors and interests, however, it is largely based on demographics and keywords. You can geotarget advertising campaigns on platforms like Twitter and Google Ads. You can segment your customer data in your Marketing Automation platform by location and target the audiences in your campaigns. Using a visitor’s IP address, you can even have your website deliver specific messages based upon the visitor’s location.
By targeting destinations – such as business and industry conferences, a potential customer’s office location, or trade shows – B2B marketers can leverage location data to grab the attention of new prospects. For instance, in the case of trade shows or conventions, marketers could drive customers to visit their organization’s booth and initiate the first conversation in the Sales cycle.
What are the Potential Barriers in Location Data Marketing?
The success of a Geomarketing strategy is heavily dependent on mobile device usage, which could pose a challenge if intended buyers don’t spend much time on this medium.
Google’s research shows that 61% of smartphone owners prefer to buy from sites that customize information for their location. Mobile device users are also an audience seeking immediate action, with searches for “open now” tripling in the last two years.
As Geomarketing yields more favorable outcomes in the consumer space, marketers are still working out a few kinks to deliver the same results for B2B organizations. While 77 percent of B2B buyers bought more products online for their companies in the past year, buyers are slow to make the shift to mobile. Additionally, commonly targeted locations for Geomarketing campaigns are work-related. However, customers are less likely to be on their phones while carrying out work-related functions.
Furthermore, Geomarketing strategies rely heavily on research. In order to be successful, marketers must know where their clients are, their habits/routines, what services or products they may be looking for, and intended audience size. By conducting appropriate research, marketers can ensure they are setting their campaign up for success.
Ultimately, Geomarketing is just one example of how location data can empower rich and impactful marketing outcomes. With ample forethought, location data can allow B2B marketers to gather meaningful insights and identify untapped opportunities, ultimately benefiting the company’s bottom line in terms of saving cost and time.