Marketing your products and services to people who are unlikely to buy is a wasted of time and resources. On the other hand, marketing based on specific demographics and interests can yield results and provide valuable insights that lead to more conversions. Location-based marketing, or geotargeting, is one effective strategy any business can apply to increase revenue.
And contrary to popular opinion, geotargeting doesn't mean SMBs focusing on audiences in their locality alone. According to a report by Forbes, larger companies can also use geotargeting in their marketing campaigns to locate audiences in different regions. Here are practical tips any business can use to increase its revenue with geotargeting.
A geo-fence is a virtual perimeter that demarcates a real-world geographical area for promotion purposes. Businesses can pair it with geo-conquest to create predefined boundaries based on the location of their competitors. Geo-fencing is a great marketing strategy used to enhance brand awareness within a specific area.
Consumers can also set up geo-fence in their smartphone apps to receive notifications about specific services. For instance, those using search terms like "title loans near me" can be able to locate the lenders in their localities. Geo-fencing benefits both business owners and customers looking to find services near them quickly. It's a segment of geotargeting that can significantly boost revenue when appropriately implemented.
This is a tidbit for businesses with a global market. Their websites should be multilingual to appeal to global audiences. They should allow consumers to easily change the language according to their preferences. They can measure conversion rates using key performance indicators (KPIs) such as time spent on the site and CTA click rates, among other product marketing specifics.
Samsung and Coca-Cola are good examples of international companies that use consumers' language to increase conversions. For instance, Coca-Cola's site appears in English when you visit it in Germany, but the German language is highlighted in case you'd like to switch. The same thing happens when you visit samsung.com from Hong Kong. The page directs you to the samsung.com/hk and you can easily change the language from the main menu.
Many businesses now use hashtags in their geotargeting marketing campaigns. Hashtags are highly effective, especially when used to promote major events. Location-specific hashtags or other relevant hashtags spread quickly when tied to trending events.
For instance, a business marketing surgical masks and hospital gowns can use the covid-19 pandemic and create a hashtag like #Covid-19ReliefFund. This is a hashtag with global appeal, but you can always create one based on your target audience. The business can then offer part of the proceeds to help the severely affected regions. Always ensure you provide a location geotag of the event.
Consumers want to know about tax charges before buying from you. Tax rates differ across states, nations, and continents but may not apply to select products. Make that information readily available on your website. You can promote your global products by displaying taxes that apply to specific countries. It's a strategic move to build loyalty and generate revenue. Also, let consumers know of tax-free product purchases by providing the information on your website.