How Geofencing Advertising helps Real Estate Industry across Borders

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Are you a real estate agent or broker struggling to find the right audience for your properties? Do you find traditional marketing methods too broad or too expensive?

Geofencing is a powerful tool that can help real estate companies target their marketing efforts to specific neighborhoods or communities, increasing the likelihood of generating leads and closing deals. In this article, we’ll explore how geofencing is transforming the real estate industry, the benefits of using this technology, and some practical tips for implementing geofencing into your marketing strategy.

What is Geo-Fencing Advertising?
Geofencing marketing also known as geofencing advertising is a location-based advertising technique that uses GPS, RFID, or cellular data to create a virtual boundary around a specific location or set of locations. Once a user enters this boundary, they will receive targeted ads or notifications on their mobile phone. This can include push notifications, in-app ads, or even text messages. Geofencing advertising generates fewer, but significantly more qualified leads because of its very focused and high audience.

Geo-fencing Ads in Real Estate
With the help of geo-fencing, real estate agents and brokers can target potential buyers and sellers within a designated area with customized and personalized ads. Geo-fencing advertising works by setting up a virtual fence around a specific area, which triggers a pre-set ad to a potential customer’s mobile device when they enter the designated zone. Real estate companies can use this technology to target specific neighborhoods, communities, or even buildings, to reach potential buyers or sellers. This method allows agents and brokers to be precise with their advertising efforts, focusing on specific properties or neighborhoods that fit the needs of their target audience.

For instance, if a real estate agent is selling a home in a specific neighborhood, they can use geo-fencing technology to advertise their listing to potential buyers who are looking to buy a home in that area. They can also use geofencing to target individuals who have visited open houses, attended real estate events, or shown interest in similar properties in the past.

Let’s have a look at some of the advantages of geofencing advertising.

The ability of geofencing advertising to reach customers at the ideal time and location is one of its key benefits. For instance, a neighborhood restaurant may utilize geofencing to target people who are passing by their area during lunchtime with advertisements. Retailers can target consumers who are close to their business using geofencing in order to entice them to come in and make a purchase.

Specific Targeting
Geofencing can also be used to target specific demographics or interests. For example, a clothing store can use geofencing to target ads to users who have previously shown an interest in fashion. This can help increase the likelihood of a user making a purchase. Using geofencing, a business can ensure that its ads are being seen by the people who are most likely to be interested in its products or services.

Geofencing advertising also has the benefit of being extremely cost-efficient. Geofencing, in a contrast to conventional forms of advertising like television or print ads, only targets users who are in a precise location or region. This indicates that people who are truly interested in the good or service being promoted are more likely to view the adverts. By more efficiently reaching their target audience, and saving money.

Integration with CRM
In order to develop more customized and successful campaigns, geofencing technology can also be connected with other marketing tools, such as CRM platforms. For instance, a retailer can monitor consumer behavior, past purchases, and preferences to provide more specialized and targeted marketing.

Tracking Customer Behavior
Advertising with geofencing also gives companies the ability to monitor consumer behavior and preferences. Businesses can better understand their target market by tracking customer behavior, which enables them to develop more successful marketing strategies. A business, for instance, can utilize geofencing to track customer behavior throughout the day so they can generate advertisements that are more likely to be viewed by customers at specific times.

Push Notifications
Additionally, geofencing advertising can be used to improve customer engagement. For instance, a business can utilize geofencing to deliver tailored push notifications to customers who are close to their store, enticing them to visit and make a purchase. Businesses can also utilize geofencing to alert customers when they are going to have a sale or any other special Promotions.

Implementing Geo-Fencing into Your Marketing Strategy
Here are some practical tips for implementing geofencing in your marketing strategy for the real estate industry:

Identify your target audience: Before setting up a geofencing campaign, it’s important to identify your target audience. Who are you trying to reach? Are they homebuyers or sellers? What neighborhoods or communities do they frequent? Once you’ve identified your target audience, you can set up geofences around those areas to ensure that your ads reach the right people.

Develop a clear message: To be effective, your geofencing ads must have a clear and compelling message. Make sure your ads highlight your unique value proposition, such as your ability to sell homes quickly or your expertise in a specific neighborhood. Your ads should be concise and attention-grabbing, with a clear call-to-action that encourages potential clients to contact you for more information.

Use relevant images and videos: Incorporating relevant images and videos into your geofencing ads can help grab the attention of potential clients. For example, you can use drone footage to showcase a property’s unique features or use virtual tours to give buyers a more immersive experience.

Set up multiple geofences: Don’t rely on a single geofence to reach your target audience. Instead, set up multiple geofences around different neighborhoods or communities to maximize your reach. You can also set up geofences around local events or conferences to reach potential clients who are attending these events.

Track and measure your results: To gauge the effectiveness of your geofencing campaign, track and measure your results. Use analytics tools to monitor how many people are entering your geofences, how many are clicking on your ads, and how many are converting into leads or sales. This data can help you refine your marketing strategy and improve your ROI.

By implementing these tips, you can use geofencing technology to reach potential buyers and sellers in specific locations, increase your brand awareness, and generate more leads and sales for your real estate business.

There are several ways in which you can track your geofencing advertisement.

The number of times a mobile phone entered your geofences is counted. To put it another way, it tracks the number of times your adverts were broadcasted, and whether or not anyone responded to them.

This represents the number of distinct mobile devices that entered your geofences. Nevertheless, it does not take into account repeated visits from the same person, unlike impressions.

This indicates how frequently consumers responded to your adverts by acting in some way. They typically do that by making a purchase from your business, but there are other ways to quantify it as well. For instance, it may just be someone entering one of your stores, or it might be them joining a rewards program or mailing list for a newsletter.

Geofencing advertising is a powerful and successful method for businesses to connect with customers in a particular area. Businesses may boost foot traffic, boost revenues, and boost consumer engagement by focusing on the right people at the right time and place. Geofencing additionally enables businesses to observe consumer activity, develop more individualized marketing strategies, and generate more engaging customer experiences. As technology develops, more businesses will likely use geofencing advertising to reach their target market and increase sales.

In conclusion, geo-fencing advertising is a powerful tool that the real estate industry can leverage to reach potential buyers and sellers in specific areas. By utilizing this technology, real estate companies can personalize their advertising efforts and ensure that their message reaches the right audience at the right time. As more homebuyers and sellers turn to online channels for their real estate needs, real estate companies that embrace geofencing advertising will likely have a competitive advantage in the marketplace.