What is Geofencing?
Geofencing is a location-based service that uses GPS, Wi-Fi, RFID, and cellular data to send messages, notifications or show ads to mobile devices that enter or exit a particular geographical area.
Geofence is a virtual boundary created for a specific geographic location. It is a technology used by businesses for various purposes like location-based marketing, engagement with customers, increasing sales at outlets, improving customer experiences, and much more.
Geofencing is also used for monitoring and security purposes in many organizations where geofences are marked to keep track of assets when anything enters and leaves the specific area. In this case, businesses use geofencing to monitor the mobile workforce in the field, track assets, control, and monitor fleets, etc.
How can Dista and geofencing help you?
Geofencing has various applications that many businesses can use. Let’s take a look at the key geofencing use cases.
1) Asset management
Assets are an essential part of any organization, and it is crucial to monitor them. With geofencing technology, the application can track assets, and whenever the asset moves out of the marked area, it will be alerted to the administrator.
2) Fleet management
You can use geofencing to monitor and live track vehicles. Managers will get a notification if a vehicle goes out of its route or a marked territory.
3) Drone management
You can set territory and monitor the entire drone activity throughout its use.
4) Proximity marketing
Companies use geofencing technology to provide discounts, promote products, increase footfalls to physical stores, and show relevant ads whenever people are in proximity.
5) Field agent tracking
To track and monitor field agents who work on-field, companies can use geofencing to ensure that they complete the jobs assigned for a particular area in the given time.
Benefits of geofencing with Dista
Let’s take a look at the advantages of geofencing with Dista’s platform.
1) Target customers to physical stores
Brands can target a specific set of customers who have shown some engagement with a geofence in real-time by sending them personalized messages.
2) Increase impressions, footfalls, and sales
Messages can be sent to customers who are in a particular geofence to increase footfalls, promote products, provide discounts, coupons and thereby increase overall sales.
3) Enhance customer experience and loyalty
Engage with customers at the right time, with personalized messages thereby, boost brand loyalty, and enhancing their experience.
4) Refine customers with location data
You can collect accurate location-based data of customers’ movements and activities around retail locations. A more refined list of users can be created and targeted accordingly for better sales.
5) Increase customer engagement
Campaigns with personalized messages, contextual messages, and relevant ads can be shown to customers to increase engagement.
6) User experience feedback
Businesses can send messages to customers who have exited a geofence and get their feedback and collect information about their recent experience.
7) Remote workforce management
Companies can do real-time monitoring of activities, job status, job assignment, and workforce management.
8) Better control and tracking
Fleets can be tracked and controlled easily along with on-road transportation.
9) Security enhancement
Improve security within the organization by keeping track of all the assets and other activities.
Which industries use Geofencing?
The banking, finance, and insurance industry have many services and sales processes that require a workforce involved in field service, and monitoring their activities, job status, job completion, etc., needs to be tracked. Also, when existing customers are within the defined boundary of banks, they can send them personalized messages, which will create awareness about their products and help drive more sales.
2) Logistics and transport
Assets and fleets are the most critical aspect for logistics and transport companies, and monitoring them is crucial for them. Asset tracking and management, vehicle tracking, fleets tracking, driver monitoring, route management, fuel consumption, and more can be managed using geofence technology.
Consumer goods companies use geofencing to increase overall sales and increase footfalls to physical stores by promoting products to consumers in proximity by sending them personalized messages or showing relevant ads.
When customers are in the physical stores’ defined radius, retailers leverage geofencing technology to drive traffic to their stores. They can send lucrative offers, discount coupons, new arrivals information to the customers, thereby giving a competitive advantage and boosting footfalls.
5) Restaurants and QSRs
Providing discounts and offers on food items helps to gain a competitive advantage and drive more traffic at the stores. Restaurants regularly make use of geofencing technology for increasing sales and improving customer experience.
Hyperlocal deliveries at customer doorstep have become crucial, and geofencing is used to track deliveries and their status.
According to recent reports, the geofencing market is projected to reach USD 1825 million by 2022 at a Compound Annual Growth Rate (CAGR) of 27.5% during the forecast period.
Studies also show that around 63% of consumers expect personalization when they receive special offers. So, we conclude that geofencing is applicable to a wide variety of industries which will definitely be utilized by many businesses in the coming years.