Location-based marketing has been considered a powerful way for advertisers to reach target customers when they're most ready to make a purchase.
With advancements in mobile technology, marketers can use a tactic called "geofencing" to beam content or messaging at people within a specific geographic area.
With geofencing, marketers can run "conquesting" campaigns to steer consumers away from the locations of rivals, including stores, restaurants or car dealer lots.
While geofencing used to be the domain of major brands, smaller businesses can harness the technology.
It used to be you had to meet monthly minimums, so it was confined to big brands," Brent LeVasseur, vice president at Propellant Media, said in this episode of "Streaming Boom Accelerates the Adoption of CTV," a Beet.TV leadership series presented by Slimpli.fi, the local programmatic advertising and demand-side platform (DSP).
By pooling more businesses together, they can run geofencing campaigns, he said.
"Being able to meet that in aggregate has opened the door a lot more to service smaller business, clients and agency partners," LeVasseur said.
"It's a powerful tactic.
It's a great technique for reach and awareness." Location-based marketing can help to personalize experiences for customers, improve the segmentation of ad targets and find the right moments to lead consumers along the path to purchase, according to researcher eMarketer.
Empowering Addressable TV Combined with the targeting of addressable TV, geofencing becomes even more effective at reaching target consumers.
"There's been an amazing progression with geofencing," LeVasseur said.
"Certain ad tech platforms have evolved to where we can actually upload up to a million physical addresses and geofence households down to the home." Marketers can use their existing customer data to help target their location-based campaigns among a variety of devices, a key way to make omnichannel marketing more effective.
"You're reaching those folks not only on a mobile device, but you may reaching them on a laptop, a table and now the OTT and CTV, and getting in front of them from all angles," LeVasseur said.
"You can really hone in … and have a really powerful campaign." You are watching "Streaming Boom Accelerates the Adoption of CTV," a Beet.TV leadership series presented by Simpli.fi.
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