Geomarketing is a new term, used quite a lot in recent times. What is geographic marketing? What are the goals and key factors? Let's find out with IOTLink through the following article!
What is geographic marketing?
Geographic marketing (Geo Marketing) is a geo-based marketing strategy. Businesses will have to focus on analyzing, locating and reaching customers in a specific geographic area. By using digital maps, navigation systems, geographic data, other related technologies, etc. to know the geographical location of potential business and potential customers. From there, come up with marketing strategies with specific tactics. Help develop local businesses and products/services.
With the development of current technology, Geo Marketing has become an increasingly popular marketing method in many different industry sectors such as retail, service and tourism. Helping businesses optimize marketing costs and increase interaction with local customers.
Scale and trend
About the scale
In terms of scale, geographic marketing is very diverse. From small businesses to large enterprises, from domestic enterprises to global enterprises. Mainly businesses using this method are mid-range and above enterprises.
About the trend
The trend of geomarketing will continue to grow in the future. Because due to the resonance of the development of modern technologies and businesses see the importance of reaching local customers.
Here are some trends:
- The development of geolocation technologies such as API, GPS, GIS, etc. has created many new opportunities.
- Increasingly interested in optimizing marketing costs and increasing interaction with local customers.
- Considered an important part of online marketing strategy when every business is gradually moving from traditional marketing to modern marketing.
- The trend of approaching customers online and improving the ability to interact with local customers through online platforms such as social networks, running local ads, etc.
- The growth of the e-commerce market is driving the growth of geomarketing, creating local advertising campaigns to boost online sales and offline sales channels.
The goal of geomarketing
The goal is to optimize the reach of customers in a certain geographical area. To achieve this goal, it is necessary to:
- Identify potential customers in a certain geographical area. From there, create an effective marketing strategy.
- Increase interaction with customers through different marketing channels. Thereby creating a close relationship and increasing sales.
- Optimize marketing costs by focusing on potential geographic areas. Also remove inefficient geographies.
- Increase competitiveness by finding potential market geographic areas and focusing marketing resources on these regions.
- Improve business efficiency, optimize costs, increase sales and reduce business failure rate.
Key elements of geomarketing
Is a multi-dimensional advertising strategy. Includes many different elements. Here are some key factors:
Geolocation
An important factor in geographic marketing. Determine the position of potential customers and competitors. Thereby helping businesses find potential areas to reach.
Geographic data
Businesses need geographic data to analyze and make decisions. Includes information about the location, population, age, and income of customers in a given geographic area.
Local customers
It is necessary to understand the needs and consumption habits of local customers to create an effective marketing strategy.
Network connection
Geomarketing requires the connection between businesses and customers in a certain geographical area. Businesses need to find ways to connect with local customers through different marketing channels.
Local marketing strategy
Businesses need to build a local advertising strategy based on geographical factors. This strategy needs to focus on increasing interaction with local customers and optimizing marketing costs.
In short
Geomarketing is a method of reaching customers in a geographic area to optimize marketing strategies and increase customer engagement. The goal of geomarketing is to identify potential customers, increase engagement. Bring optimization of marketing costs, increase competitiveness and improve business efficiency.
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