Are you prepared to advance your online marketing? You might find the tool you need in geofencing. Real estate agents can connect with their target audience using the location-based marketing strategy known as geofencing at the precise time and place of their choosing.

The most crucial query to answer before beginning any marketing strategy is: What is my primary goal? Is it to forge stronger ties within the community? entice customers to visit your website? draw audiences to a performance? You can begin to prepare your geofencing marketing strategies once you've decided who your target client is and what action you want to see them do.

This article explains geofencing's operation, its benefits, and how you may utilize it to increase the return on your advertising investment.

Describe Geofencing

A mobile-focused marketing tactic called geofencing sends a text, email, sponsored ad, or other messages when a device enters a predetermined area. Your target users will see adverts that are pertinent to those borders when they pass through a geofenced area. The physical locations of geofenced regions can range in size from little cafes to huge cities.

Have you ever crossed a border or visited a new city and your cell network operator automatically notified you about international rates and deals? How about alarms that are sent by home security systems when someone enters or departs the house? or pick it up at the curb? If your response was affirmative, you have already used geofencing.

We use the term "geofencing" to describe the use of a geofence. Most real estate marketers configure their geofencing to send out non-intrusive signals like paid internet adverts or targeted social media posts. Text messages work well for alerts that call for a quick response, like increasing texting rates or a restaurant bargain that is only valid for one day.

Don't be fooled by these new terms. You probably use geofencing frequently, as we just discussed, and it's simple to incorporate into your own marketing. It might be as easy as picking a particular geofilter on Snapchat or a particular region to target with your Facebook advertisements.

In reality, all of the main social media sites—Facebook, Instagram, etc.—allow for the use of geofencing.

Geofencing Types

The three primary networks used for geofencing are cellular, wifi, and GPS.

Until your target enters the geofence perimeter, WiFi and cellular networks remain inactive and functioning in the background. On the other hand, GPS is a larger and less efficient network. The device batteries of individuals connected to your GPS geofence will begin to deplete quickly because a GPS continuously collects and uses position data.

Why Employ Geofencing In Your Digital Real Estate Marketing?

Flashy graphics and excellent writing are amazing and essential, but in order to have an impact, they must be seen by customers who are interested in what you have to offer.

When done correctly, geofencing should target a certain demographic inside a predetermined area. Compared to ads without geofencing, these ads frequently display higher click-through rates and interactions with the ideal client. Mobile Marketer reports that the click-through rate for mobile advertisements using geofencing is two times greater than the industry standard.

When a potential customer sees your ad at a moment when it is pertinent (for instance, when they are searching for nearby family homes on Google and your sponsored Google advertising appears), they are more likely to remember you the next time they conduct the same search.

Geofencing is a fantastic tool for generating leads and learning more about your customers. You get notified where and when someone enters your geofencing area. Other marketing strategies often do not make this information available. Real estate agents can learn which regions are most popular with their prospects and why by keeping an eye on this movement.

Once your geofence has been in use for a time, you'll have access to enough demographic data to eliminate pointless target markets and, as a result, reduce or repurpose your marketing budget. You can tailor retargeting and future advertising using this information.

Geofencing can be used in a variety of inventive ways to achieve a particular outcome or action. For instance, real estate companies can utilize geofencing to divert potential customers from their rivals and increase their own traffic. In this scenario, you may set up a geofence around a new hyperlocal area that is now dominated by another brokerage and that you would like to work in.

Let's explore further applications of location technology for improving your real estate marketing.

Strategies For Using Geofencing In Real Estate Marketing

1. Think about the areas where your potential client spends time. For instance, new families would frequently visit neighborhood park or hardware stores. Create virtual borders there so that your advertisement appears. Highways, woodlands, and other places with little foot traffic should be avoided. understanding where your clients are is more important than understanding where you want them to be.
2. Use multiple nearby smaller geofenced areas that are easily accessible by foot or automobile. Avoid making them too large or you risk missing your intended audience.
3. Always have a prominent CTA. Direct readers to a specific action that will provide leads for you after reading some informative information. Use a prominent social media post or a link to your website, for instance, to entice people to your profile.
4. If you are unsure of which CTA will be the most successful, track many of them. Which CTAs work best with your audience can be determined through A/B testing, which involves comparing two CTAs with two distinct groups at the same time.
5. Run advertisements only at busy times (if possible). There is no need to spend money on advertising when families aren't visiting hardware stores late at night.
6. Don't cut corners with your copy text. Because there is a limited amount of advertising space, be sure to choose the powerful language that is also readable. Always include specific contact information or ways to reach you in your copy.
7. Create a landing page for visitors you get from geofencing. These prospective customers probably want to know more about the places they frequent.
8. Users with mobile devices are the objective of geofencing. Consider running conventional display advertisements or retargeting to target them on desktop and mobile.
9. Observe what works and what doesn't as you adjust your geofencing tactics.

Risks Associated With Geofencing In Marketing

The majority of public-facing sectors use location-based advertising, however, there are privacy risks. To safeguard the security and privacy of its residents, some countries are taking tough measures against location-based advertising.

You must have a privacy policy in place as a digital marketer (no matter how small-scale) that expresses how important audience protection is to you. Your choice of language when discussing location sharing (if necessary) can allay their worries or drive them away. Explain why you want to use location-based marketing and what you hope to achieve from it.

Comparing Geotargeting, Geofencing, And Geolocation

Location-based marketing techniques include geotargeting and geofencing. There are a few significant changes, though.

Geotargeting

Geofencing is one of several elements that make up geotargeting. It involves showing relevant adverts based on the user's geographic location. Geotargeting can be effective on a national, city, or district level.

Local, hyper-local, and advanced geographic targeting are the three categories into which marketers most frequently subdivide geotargeting.

Geofencing

To entice an audience to take a particular action, geofencing is frequently employed in strategically chosen areas. Typically, geotargeting concentrates on a larger geographic area, such as a city, county, or nation.

Wi-fi, cellular data, RFID, and other technologies are used by geofencing to create a defined boundary around a given area. A sort of advertisement begins to run the moment a device enters said perimeter.

Assessing Success

Depending on the objectives of your real estate business, you can use a variety of metrics to gauge geofencing performance. Make sure your local markets are being reached and that you are inspiring them to act.

Some of the most widely used measures are listed below:

CPM: Refers to the price that your adverts must pay to generate 1,000 impressions. This measure assists companies in calculating their geofencing marketing expenses, which is essential for assessing the campaign's effectiveness.

CPC: Stands for cost-per-click and indicates how much interest your advertisement is receiving.

CTR: Click-through rate is referred to. This is the ratio of the number of times your ad is displayed to the number of times viewers interact with it. Higher CTRs indicate that the creativity and copy in your ads are successful in persuading viewers to take the next action.

Your Overall Marketing Strategy And Geofencing

An effective real estate marketing strategy includes geofencing.

Every real estate company depends on the requirements and preferences of its specific local market. Real estate agents can better support their clients by learning about their needs through geofencing.

When used in conjunction with other marketing techniques, geofencing improves holistic marketing and enables you to focus on the buyers and sellers of real estate who have the biggest impact on your business' performance.