- Prospecting and the Efficiency of Addressable Geofencing
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Prospecting and the Efficiency of Addressable Geofencing
If there’s one undeniable truth in digital marketing, it’s that ad tech is constantly evolving, seemingly at the speed of light. New platforms, constant upgrades and shifting trends often mean that the rapid pace of innovation can challenge us to identify a clear strategy. Compounding these existing challenges, marketers must also now rapidly adapt to the unfolding COVID-19 crisis in real time.
With that in mind, it’s worth noting that there are tried and true tools at our disposal which are both effective and resource efficient.
Residential Geofencing: The Digital Version of Direct Mail
Scanning new email takes precedence over my first cup of tea (I’m not a coffee guy) and I’m confident the same habit applies to most of us, whether we’re working from our home office or running errands. Digital messaging has become our literal lifeline to the outside world.
Addressable Geofencing is a consistently reliable approach to lead prospecting. Knowing how and exactly where to reach high-value prospects is more important than ever before. Marketers are reassessing their approach towards the new challenges clients are currently facing: ever increasing choices and limiting “Shelter in Place” orders.
It’s not enough for our message to be relevant, it has to be seen.
One Ad Buy, Reaching All Screens
After scanning my phone for the day’s new email, I switch to my laptop so I can begin to respond. If I’m on the go I’ll use my tablet. As the day progresses, so do the corresponding sizes of the screens throughout my house and office.
Data tells us this behavior is consistent across residences. While the size of our screens may vary, our ability to discover and target every one of those household screens with a consistent, trackable message is a constant.
Direct targeting and cross-device matching technology means any device in the targeted address can be shown your . Every. Single. One.
Think of large screen HDTV’s, computers, laptops, tablets, and smart phones as spokes in a residential communications hub. How marketers utilize this hub to communicate their brand message and create customer loyalty is limited only by our imagination.
Tracking and Optimizing for Results
A key advantage of digital advertising is the ability to report and analyze multiple conversion metrics, often in real time. However, large volumes of data aren’t helpful unless we apply them to clear, quantifiable goals. To make the best use of high-quality campaign data, our digital partners build in tracking features so we can ensure our strategies are producing desired results. Furthermore, applying unique coding to each ad and tactic gives us the potential to optimize each campaign by reallocating ad budgets to the tactics that are producing the highest ROI.
Knowing which type of marketing data is relevant for each of our partners not only guides strategic business planning, but gives us a clear view of what’s working when, where and how.
Deeper Insights through Reverse-Appending Residential Physical Conversion Data to Consumer Data
Since we can determine the source address of a device we’ve served an ad to, which device has clicked on ads, and which device has visited a physical location, we can, therefore, use the address as the common data point to reverse-append household consumer data to the device providing source data. This information help marketers narrow down which addresses are the highest value prospects and helps ensure we’re reaching the right consumers.
Beginning every day with an “audience-first” mindset combining the best digital marketing and data tools at our disposal will go a long way in executing business strategies that amplify budgets and produce ROI positive results.
We have a clear mandate to avoid waste by reducing marketing costs while improving the customer experience. For example, integrated campaigns which combine Addressable Geofencing with highly targeted direct mail have demonstrated high returns in their overall results.
Our industry is evolving at a faster pace than ever before. To succeed, we’ll need to challenge existing assumptions by combining quantifiable metrics with thoughtful execution.
Stay creative and stay safe.
Founder, Canopy Advertising