As the name implies, location-based advertising means creating highly customized and targeted marketing efforts tailored to consumers in a specific place. While it's not a new concept (neighborhood-based direct mail campaigns came about long before the internet age), geo-targeting and GPS-enabled mobile devices have made it easier than ever for brands to learn where their customers are and when to reach out to them for maximum effectiveness.
Modern location-based marketing tactics like text messages and app push notifications triggered by certain actions (entering a store, making a purchase, etc.) can help tremendously in engaging and retaining customers. But you can't just start sending texts to everyone who interacts with your brand: You need to do your homework and implement a carefully-crafted strategy to get the most out of local ad campaigns.
Fifteen members of the Forbes Agency Council offered one key fact all brands should know about location-based advertising before you get started.
1. Local Businesses Can Use It To Compete With Big Brands
Many local businesses often fear that the hurdle is too great when it comes to competing with nationally known brands. What business owners need to understand is that Google has given the advantage to local business owners by engaging in the most immediate of all audiences, which, many times, aren’t reached at a personal level by huge brands. - Charles Kim, Executive Digital
2. It's Highly Personalized And Measurable
Mobile advertising can be dynamic and personalized, based on a consumer's previous shopping behavior, apps downloaded, specific location and even external factors such as weather, sales inventory or sports scores. Further, brands can track exposure to a mobile ad or even a billboard to see whether ads had any impact on store foot-traffic based on a control and exposed group. - Jeff Tan, Dentsu Aegis Network