Being a business in the world today requires a lot of integration with technology in almost every aspect – marketing, finance, sales, etc. According to a survey conducted by BrightLocal, your consumers are diving head-first into technology to help them choose where they should shop. 95% of people have used the internet to search for local services within the last year, 53% searching more than once per month and 11% searching every day. Geolocation is not the exception – here’s everything you need to know about how geolocation can affect your business.
According to TechTarget, geolocation, as a verb, refers to the wireless detection of the physical location of a remote device. This means the location can be as generalized as identifying the continent on which the device can be found, or as accurate as specific latitude and longitude coordinates. Most location services use the IP address on a computer or the radio-frequency identification (RFID) of a smartphone and work similar to GPS system, tracking through Wi-Fi, light-based triangulation or wireless beacons. Accuracy depends on the method and equipment used; this means that most geolocation services are more likely to use registered locations such as businesses and well known facilities to plot customer movement.
Because of the convenience of online shopping, tangible shopping has taken a hit. Avoiding queues, showing stock, and always being open and available give the digital stores the advantage. But with geolocation, physical stores have the opportunity to use online sites to transform in-store experience and overall customer satisfaction.
According to EMarketer, 74% of smartphone users use location-based information services, relishing in the ability to check-into locations, track other friends, and find services and stores closest to them at that point. This means that you have the ability to see and correlate the locations visited by your customers so that you can tailor your marketing in a way survey demographics never could, as well as actively market to them through social sites and new “in-the-moment” feedback apps and websites.
Some business intelligence services take the information gained by geolocation and adapts your business’s marketing strategies, potential distribution points and plans, and sometimes the content and products offered by the business according to the wants of the target market. The in-depth demographics available with geolocation take business data analytics to another level.
Marketing through social sites is extremely convenient as they add to the accuracy of the positioning whist boosting your company’s social media. For example, some sites link your social feeds directly so customers can see your latest updates by simply being in the vicinity of your store. This will not only attract customers in immediacy, but allow them to follow your social media sites to get updates and other marketing projects. Some business intelligence suggests encouraging followers to check-in to potentially receive time-dependent promotions. This is great way to increase foot traffic in typically slower times of the day and to keep your business well known, and therefore, well visited.
Geolocation can also help you locate potential branch expansion points. It can also help scope out, size up and research potential competitors and determine how to shift customers to your business instead.
Geolocation services have so many advantages in the short and long term for both small and large businesses. If you have any questions about geolocation, other online services or about Connectica, don’t hesitate to contact us today.