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Location Based Marketing for Small Business.
Build loyalty and attract new customers.
What is Location based Marketing?
Location based marketing allows marketers & business owners the opportunity to deliver content to a users mobile device depending on where they are located. It is a new way to deliver a targeted marketing message to users in a specific geographic location.
The Major Players.
Over 5 million new users in less than 1 year! 150,000 new users per week.
Their new Faces Places app is accessible to their 500 million users!
THESE BIG BOYS GET IT!
Companies using location based marketing.
What can Location based marketing do for my business!
• Build Loyalty. • Give you the ability to send personalized real time
messaging. • Receive analytics & reports that provide businesses insight
about their customers and venues, including demographics, time of check-ins, and more.
• Increase revenue.
What kind of content can I send?
• Coupons • Events
• Special Promotions
Location based marketing is a hit with consumers!A recent survey from the Mobile Marketing Association (MMA) showed:
• Ten percent of all cellphone owners use location-based mobile services at least once per week
• Adults ages 25-34 are frequent users of location services, with 22 percent using them at least once a week.
• Sixty-three percent of iPhone owners use location-based mobile services at least once per week
• Respondents said they use these services most frequently to “locate nearby points of interest, shops or services.”
• Consumers are interested in allowing their phone to automatically share their location in exchange for perks, such as free use of mobile applications and mobile coupons.
• One in four U.S. adults use mobile location-based services. And nearly half of those users responded in some fashion to location-based ads.
Why do Consumers Love it! Location based marketing allows consumers to announce that they have “Checked In” to their favorite businesses. Checking In allows them to share their current location with friends. Checking In promotes fun competition among friends. As in the case of "Foursquare" become the "Mayor"of their favorite businesses. Businesses who participate with these platforms are allowed to offer discounts and other specials to their best customers. All consumers love discounts & specials!
• Earn badges • Become the mayor
• Communicate with friends
• Receive specials
Business Scenario:
Joe Blow's Coffee Shop
Joe Blow's coffee shop has been around for a few years and has become a local neighborhood favorite spot.
Unfortunately, as with many small businesses in the U.S. at this time, he has seen his profits slowly diminish due to the current economic climate.
U.S. Depression
Slash!!
Joe, like most small business owners in his predicament, Joe starts slashing operating expenses to a bare minimum in order to keep the business going.
After slashing as much expenses as possible, Joe finds that this has helped sustain his business temporarily. He still needs the one fundamental thing that all businesses need to stay afloat. Customers!
Seeking Help
Joe starts researching on ways to help market his business. He reads an online article about Location based marketing. Joe knows that his time is better spent running his business so he conducts research and hires an agency to develop a campaign.
The 80/20 Rule.
The agency reminds Joel that for most small businesses, 80 percent of their revenue comes from 20% of the customers. They develop for Joe a Local Location Based Marketing strategy designed to build loyalty and reward his 20%. Joe's best customers become his own brand ambassadors by announcing their "Check Ins" on Foursquare, Facebook Places, Twitter etc. and spread valuable online word of mouth marketing about his business online,
Consumer Interaction
With the help of the agency, Joe starts sending targeted messages. • Joe sends discount specials on his slowest days to his best
customers offering them discounts on their favorite coffee drinks. • Joe sends special offers to consumers who "Check In" at other local
nearby businesses to increase foot traffic. • Joe offers special discount to any customer after "Checking In" at
his business 10 times. • Joe makes post on Twitter and Facebook alerting people of other
daily specials that encourages "Check Ins" to his business.
There is light at the end of the tunnel.
Joe starts to see a positive ROI as he receives more repeat business from his current customers, an increase in walk in traffic and increased profits. Joe is on his way to saving his business.
Famous Quote.
"Without promotion something terrible happens...... nothing."
PT Barnum
