Definition of Geo-Conquesting
Geo-conquesting is a digital marketing strategy that targets potential customers within a specific geographic area, often near a competitor’s location. The goal is to divert and attract consumers to one’s own business by providing timely and relevant offers, ads, or incentives. This technique makes use of location-based advertising tools like GPS and mobile data to reach the targeted audience.
Phonetic
The phonetics of the keyword “Geo-Conquesting” can be represented as:/jee-oh-kən-ˈkwɛst-ɪŋ/
Key Takeaways
- Geo-conquesting is a location-based marketing strategy that targets consumers in close proximity to competitor locations, enticing them to choose your brand over the competition.
- It utilizes mobile advertising to deliver targeted, time-sensitive offers and promotions directly to consumers when they are most likely to engage with your brand, increasing conversion rates and driving foot traffic to your store.
- Geo-conquesting can provide valuable insights into consumer behavior, enabling brands to better understand their target audience, fine-tune marketing campaigns, and effectively allocate resources to maximize return on investment.
Importance of Geo-Conquesting
Geo-conquesting is an important digital marketing term because it enables businesses to strategically target potential customers based on their physical location and proximity to competitors.
This innovative technique capitalizes on location-based data to deliver tailored ads, promotions, or personalized messages when individuals are near a competing brand’s location, thereby incentivizing them to consider an alternative option.
As a result, geo-conquesting not only enhances a company’s marketing capabilities by identifying prospective clientele but also fosters direct competition by captivating consumers with compelling offers, thus maximizing their chances to attract, engage, and retain customers in a highly competitive market.
Explanation
Geo-conquesting is a powerful digital marketing strategy aimed at capturing potential customers who are physically near or visiting a competitor’s location. The primary purpose of this approach is to entice these prospects by offering them better deals, promotions, or an overall enhanced customer experience.
By leveraging location-based data and targeting technologies, businesses can intelligently reach out to consumers within a specific geographic radius, offering them a timely and relevant opportunity to win their loyalty and engagement. This strategy enables marketers to identify, engage, and ultimately convert prospects by capitalizing on micro-moments when potential customers make real-time decisions and choices about products or services they need.
The practical applications of geo-conquesting span across various industries, from restaurants and retail to automotive and travel. For instance, a fast food restaurant chain might employ geo-conquesting to send targeted ads or promotional deals to customers in the vicinity of their competitor’s outlets, encouraging them to visit their own establishments instead.
Similarly, car dealerships can target those who are visiting rival showrooms by providing personalized incentives or financing offers. In this competitive digital landscape, where consumers are bombarded with countless marketing messages each day, geo-conquesting serves as a powerful tool to differentiate businesses, attract new customers, and ultimately gain a competitive edge.
Examples of Geo-Conquesting
Example 1: Retail Store WarsA popular retail clothing store, Store A, realizes that their main competitor, Store B, is having a huge sale event to attract customers. Store A decides to use geo-conquesting by creating targeted ads to deliver to potential customers physically near Store B. As users approach Store B, they receive notifications on their smartphones, offering exclusive discounts or offers from Store A. This strategy aims to draw the customers away from Store B and entice them to visit Store A instead.Example 2: Restaurant RivalryA local fast-food restaurant notices an overwhelming popularity of a competing restaurant in the area. To attract some of the competitor’s customers, the fast-food restaurant decides to deploy a geo-conquesting campaign. Using mobile targeting data, they send targeted ads to users who are near the competing restaurant, promoting a limited-time offer for a free side dish with any purchase at their establishment. This creates an opportunity to win new customers who might be enticed to change their decision due to the offer.Example 3: Car Dealership CompetitionA car dealership is looking to increase foot traffic and sales in their showroom. They know that a nearby dealership (offering similar car brands) is frequently visited by potential customers. To capitalize on this, the car dealership decides to implement a geo-conquesting campaign. They create targeted ads that deliver to potential customers when they enter the competitor’s dealership location. The ads showcase exclusive incentives, such as a lower interest rate or a cash rebate, only available at their dealership. The objective is to lure customers away from the competitor and entice them to visit their showroom and, ultimately, make a purchase.
Geo-Conquesting FAQ
What is Geo-Conquesting?
Geo-Conquesting is a marketing strategy that targets potential customers in the vicinity of a competitor’s location. It uses location-based technology, such as GPS, to send marketing messages to prospects when they are near or in a competitor’s store. This technique can drive foot traffic and brand awareness, encouraging people to visit your business instead of your competitor’s.
How does Geo-Conquesting work?
Geo-Conquesting works by setting up a virtual boundary, also known as a geofence, around a competitor’s location. When potential customers enter this geofenced area, they are targeted with ads and promotional offers related to your business. The technology behind this strategy can tap into the GPS data of smartphones and various mobile apps to identify when users enter a geofence and to deliver targeted marketing messages.
What are the benefits of Geo-Conquesting?
Geo-Conquesting provides several benefits, such as:
1. Increased customer acquisition: By targeting potential customers near a competitor’s location, you can drive more foot traffic to your business.
2. Enhanced brand awareness: By sending targeted ads and promotions, you can increase awareness of your brand among prospects.
3. Competitive advantage: Geo-Conquesting can provide valuable insights into a competitor’s foot traffic patterns, helping you better understand their strengths and weaknesses.
4. Better ROI: With a focused advertising approach, you can concentrate your marketing budget on prospects that are already interested in your product or service, improving your overall return on investment.
What industries can benefit from Geo-Conquesting?
Geo-Conquesting is suitable for a wide range of industries including, but not limited to, retail, restaurants, automotive, travel, fitness, and real estate. Essentially, any industry that relies on physical locations to drive business can benefit from this hyper-targeted marketing strategy.
How to start with Geo-Conquesting for my business?
To get started with Geo-Conquesting, follow these simple steps:
1. Identify your competitors and their locations.
2. Define the radius for your geofences around each competitor’s location.
3. Create compelling offers and promotions that will appeal to potential customers.
4. Choose a mobile advertising platform or partner with a marketing agency that offers Geo-Conquesting services.
5. Monitor the performance of your Geo-Conquesting campaigns and adjust your strategy accordingly.
Remember that the success of your Geo-Conquesting efforts relies on understanding your target audience and offering valuable promotions that encourage them to choose your business over your competitors.
Related Digital Marketing Terms
- Location-based targeting
- Proximity marketing
- Geofencing
- Mobile advertisements
- Competitive advertising
