The advantage of geotargeting your in-store visitors over other targeting methods is that you can identify individuals who may not have made a purchase or supplied an email address. While location data might help you be far more relevant to a visitor who may have only browsed, transaction data is still valuable. Retargeting these visitors on social media and through display advertising encourages them to return more often and make larger initial purchases.
This is very applicable to both online-only merchants as well as conventional brick-and-mortar stores: Consider Casper, Allbirds, and Warby Parker. Consumer Supercharging in Experience-centric Channels, a new research from Wharton and Harvard, found that digital-first shops with physical locations report increased sales and reduced rates of product returns from customers who visit. Also, they often purchase more expensive things, which results in bigger revenues for the shop.
The car sector is also adopting this strategy. According to Kevin Root of Dealer Marketing Magazine, the typical dealership has less than 10 percent correct email addresses for their whole customer base, which means that many auto sales are to consumers who were not in the dealer's CRM 30 days previous to the transaction. Dealers are including the option to geotarget in order to maximize their ad budget due to the short time frame from visit to purchase, which is often less than 30 days. Dealerships provide advertising to their visitors within certain time frames and successfully persuade them to make a purchase without knowing their email address, phone number, or any other contact information by collecting mobile ad IDs and presenting ads to everyone who enters their lots.
Retargeting customers that visit in-store locations, regardless of the kind of retailer, boosts the success of your other initiatives, eventually raising transaction value, loyalty, and retention.
The advantage of geotargeting your in-store visitors over other targeting methods is that you can identify individuals who may not have made a purchase or supplied an email address. While location data might help you be far more relevant to a visitor who may have only browsed, transaction data is still valuable. Retargeting these visitors on social media and through display advertising encourages them to return more often and make larger initial purchases.
This is very applicable to both online-only merchants as well as conventional brick-and-mortar stores: Consider Casper, Allbirds, and Warby Parker. Consumer Supercharging in Experience-centric Channels, a new research from Wharton and Harvard, found that digital-first shops with physical locations report increased sales and reduced rates of product returns from customers who visit. Also, they often purchase more expensive things, which results in bigger revenues for the shop.
The car sector is also adopting this strategy. According to Kevin Root of Dealer Marketing Magazine, the typical dealership has less than 10 percent correct email addresses for their whole customer base, which means that many auto sales are to consumers who were not in the dealer's CRM 30 days previous to the transaction. Dealers are including the option to geotarget in order to maximize their ad budget due to the short time frame from visit to purchase, which is often less than 30 days. Dealerships provide advertising to their visitors within certain time frames and successfully persuade them to make a purchase without knowing their email address, phone number, or any other contact information by collecting mobile ad IDs and presenting ads to everyone who enters their lots.
Retargeting customers that visit in-store locations, regardless of the kind of retailer, boosts the success of your other initiatives, eventually raising transaction value, loyalty, and retention.
