Business First Family Business, Accounting, Finance, Investing, Marketing And Management
Small business owners are continually looking for ways to improve efficiencies. One valuable approach for achieving this goal is utilizing geofencing platforms. The technology uses data from sources like GPS or Wi-Fi to pinpoint a person’s location. This allows small business owners to set virtual boundaries and track a defined population. Using geofencing platforms to track employees and customers conforms with all current privacy laws. More importantly, the data geofencing tools provide is extremely valuable to small business owners for many areas of the business. If you are interested in why small business owners need geofencing platforms, read on for some ideas.
Monitor Employees
Not only can the data from the geofencing platforms help improve scheduling but it also promotes accountability. Knowing the whereabouts of your employees during business hours is of significant importance to small business owners. Companies that offer delivery service, for instance, can use the information provided by the geofence technology to keep an eye on employees. The software provides an alert when employees enter and leave a designated area. This can have a tremendous impact on scheduling. The alerts allow you to plan the next delivery and know when to expect your employee to arrive back. Geofencing platforms are worth exploring just from an accountability standpoint alone. However, it also saves you time and money when it comes to monitoring your employees. Consider the importance of geofencing platforms to help you monitor employee activity for your small business.
Improve Customer Retention
Next, geofencing solutions can boost your customer retention. The ability to retain current customers is the cornerstone of a successful small business. You know it is much easier to sell to an existing customer than to someone who just set foot in your store. Ideally, your customers visit your business on a regular basis but in today’s busy world, they may not. With geofencing platforms, business owners will know when the customer is in the “area.” This is a perimeter that you define within the software that is usually within a few miles of your business. You can decide to send a message, coupon or other relevant information to the customer. In this way, business owners using geofencing platforms can position themselves as someone who cares and increase the likelihood of customer retention.
Simplify Brand Building
Using geofencing platforms for this aspect of marketing is very efficient. As a business owner, you know that building a brand can be time consuming. However, the importance of branding is integral to your business recognition and identity. The initial setup for brand building includes defining your virtual geography, target audience and messaging. It is not quite a “set it and forget it” process, but it will facilitate the increase of brand awareness with less effort on your part. Moreover, the time you do spend on building your brand will be enhanced by the platform’s geofencing data. You will be sending relevant messages, appropriate information or applicable coupons to your target audience. All the while keeping your business in the forefront of the customer’s mind. Simplifying brand building is another reason why small business owners need geofencing platforms.
Observe The Competition’s Customers
By using the geofencing platform technology, you simply define a perimeter around your competitor’s locations. It is a technique often referred to as “competitive conquesting.” Collecting data about the potential customer’s behavior allows small business owners to create highly targeted ads. If you have contemplated growing your customer base, you have probably thought of doing some sort of competitive analysis. When done with traditional approaches, this is typically a time-consuming process. The best geofencing platforms are a small business owner’s key to enticing customers from the competition.
Enhanced Data Collection
Business owners who live in a data-driven world will be thrilled with the information they can collect from geofencing platforms. You will not only know when people are near a specific location, but also how long they were in the area. Of course, you understand the importance of capturing information about user behavior and improving the experience. With the right feedback, you can make better decisions, create new products, or customize your marketing campaigns. Additionally, the geofencing platform can rate the effectiveness of the message, helping you tailor it accordingly. When used correctly, the data from geofencing collection will ultimately increase your company’s efficiency and bottom line.
Geofencing marketing platforms provide all-important data to small business owners. By creating virtual boundaries, small business owners can track any person using a cell phone with location data enabled. Employees can be monitored during business hours which holds them accountable for their whereabouts. Additionally, small business owners can track current and potential customers in order to create marketing strategies and increase brand awareness. Consider the points outlined in this post the next time you wonder why small business owners need geofencing platforms.
