My name is Jon Reames.
I have been in the digital marketing space for almost 20 years now … yeah 20 years
To put it into context …. that’s a few years after google started and just before YouTube.
I am often asked “HOW can Geofence marketing work for MY business in Banking?”
To begin let’s make sure we understand what is Geofencing –
Ever seen one of these? (hold up a phone)
YEP the mobile phone.
It never leaves our side and the latest stats seem to prove that with the average American spending almost 7 hours a day on it and checking it at least 96 times per day, according to DataReportal.
Many of the apps you use on your phone–such as the weather–use GPS to know your location. Our partnerships with those apps allow us to build audiences with those specific devices. So when a person walks into an area where we have drawn a digital geofence, we can start serving ads to them throughout the day on their mobile devices or at home on their living room TV.
Here are three ways Geofence Marketing can help those in Banking related businesses.
- New Movers – Geofence the homes of those who have recently moved into your service area to make them aware of your bank and the benefits of banking with you.
- Event Retargeting: Is your bank involved in the community or wants to be more involved? You can set up event fences around events such as a farmers market, community fair, or sports event to reach those that attended the event for the next 30-60 days with ads from you on their phones.
- Demographic Geofencing: This third approach reaches specific consumers based on demographic criteria such as business owners in market for a loan, a homeowner looking to do a home remodel project that might need additional funds, or perhaps someone in the market for a new home or a new car that will need funding.
With each geofencing strategy, it will track each audience’s engagement with your website, AND how many users visited your branch each day as a result of seeing the ads.
If you’re interested in a demo of how this all can work for your bank, request a free consultation today!