Is Geotargeting Right for National Brands?
This Marketing Profs article discusses the marketing issue many national brands face: geotargeting to smaller areas is often impossible, leaving local businesses to fill in the gaps in the market. The result is local market representation failing to become part of a company’s overall strategy – therefore, lost revenue.
Local marketing strategy and geotargeting are only one piece of a larger marketing automation puzzle. For businesses, the implementation of the right marketing automation strategy is only the beginning of the plan – not intended to be the plan itself. It’s important that large national brands that are thinking about geotargeting consider if they have the staff and resources to address the geotargeting data that emerges from marketing automation implementation.
The first step in considering geotargeting for large national brands is to get an idea of what goals the brands are hoping to accomplish. Ultimately an increase in sales and revenue is always the goal, but so is identifying whether or not the associated costs will be worth the investment.
For instance, if every geotargeted customer costs $100 in marketing dollars to obtain while the typical revenue per customer is $70, there’s a problem. Marketing automation is a good way to understand these ROI disparities and determine whether or not geotargeting is worth it for a larger business.
Marketing automation is also great for building localized lists. Having a standard set of users to continuously target will show you if your geotargeted marketing campaigns are as effective as possible. The sum of the geotargeted parts is your end user base in any given area, so it’s important to understand that marketing to a cluster of users in a singular location is essentially what you’re going for. Your end users are your bread and butter, so carefully monitoring how they use your marketing automation campaigns will make all the difference.
It’s important to work with a marketing automation firm that really has it together and can implement geotargeting effectively. After everything is set up, the available data stream is up for the company’s interpretation and use. Marketing automation set up is only the beginning – from there, companies need to be able to rely on their company’s support to help interpret data and figure out how to run their geotargeting efforts on a consistent basis.
Lead Liaison has some of the best customer support and follow-up in the business. We work with large and small brands alike and would love to chat with you about geotargeting your business! Contact us today for a free consult.