We’ve all heard the term geo targeting discussed by marketing professionals, or we’ve read about it online, but it seems like, despite all the information out there, it seems surprisingly hard to get a clear answer about what these terms really mean. More importantly, it’s difficult to find a detailed explanation about what they mean for your dealership. BHPH Marketplace shares what you need to know.
Why should geo targeting matter to you? These days, more and more consumers use their cell phones to access the internet and shop online. That includes those researching which car to buy and which dealership to visit. As how and where potential customers look for vehicles changes, the way dealerships reach those customers has to change, too. Of course, you could simply advertise to anyone who searches Google and other sites for things like “BHPH dealerships” or “bad credit car loans,” but then you could end up wasting advertising money on buyers hundreds of miles away. That’s where geo targeting, and all of its related practices, come in.
Yes, there are other related mobile marketing strategies similar (and often complimentary) to geo targeting. The three primary terms you need to know are geo targeting, geo fencing, and geo conquesting. All of methods help to ensure the consumers you send targeted ads to are actually close enough to buy from you, but each also does much more than that. Although similar, each works differently and focuses on separate specific goal. In fact, for the best results, it’s usually recommendable to combine all three in your mobile marketing strategy.
The concept of geo targeting is fairly simple: it focuses online ads on a certain geographic area, such as a particular city or state. Combining this with targeted ads– meaning ads that are automatically displayed to consumers who have recently looked up related terms or visited related websites– helps to reduce wasted advertising dollars. Essentially, it ensures that the only people you are paying to advertise to are both interested and nearby.
Geo fencing is a little more specific. While geo targeting usually focuses on a more general area, geo fencing creates a metaphorical digital “fence” around certain areas that you want to target. In the case of BHPH dealerships, this might mean the local area surrounding you lot, areas in your city that tend to house more of your target demographics, etc. For example, you are far more likely to find low-credit consumers interested in buying used vehicles in lower income areas, so those parts of your local area would be included in you geo fencing campaign.
Finally we get to geo conquesting. This, too, is a more specific mode of geo targeting, but rather than targeting areas where potential buyers are more likely to go or live, it targets competitors’ locations. After all, if someone visits another BHPH dealership, they are clearly credit-challenged and interested in buying a used vehicle, Geo conquesting gives you the opportunity to target customers who walk away from competitors, making them more likely to visit your lot. By combining this with online geo targeting, which focuses on consumers who visit local competitors’ websites, you can gain an advantage on other BHPH dealers in your area.
Geo targeting, geo fencing, and geo conquesting are all necessary for the strongest possible mobile marketing strategy, and in a world where more and more business is done on our smartphones, that is vital. If you would like to learn more about geo targeting and all of its related methods, our partner, Magnum Contact, can help. Contact them at (1 866) 570-4729 to find out how these strategies can benefit your BHPH dealership.