Brands often invest substantial resources in acquiring new visitors to the store, yet they frequently overlook their most valuable audience.
Consider this scenario, a brand invests a significant portion of their marketing dollars to drive new customers through to their store using creative segmentation strategies, but only 30% of those individuals will convert and make a purchase. It’s a frustrating reality faced by many businesses. However, your store visitors hold a significant opportunity to drive revenue. They have taken the time and effort to physically visit your store, showcasing a genuine interest in your products or services. In the e-commerce world, you would retarget these “cart-abandoners”, but when it comes to the offline world, brands often fail to activate these valuable segments.
At Near, we understand the value in engaging this offline audience, and make it easy for you to activate them. By harnessing advanced technology and real-time location data, we empower you to bridge the gap between online and offline, allowing you to deliver personalised and compelling messages at the perfect moment of consideration.
Envision a strategy where you can precisely target your store visitors in the same way you would retarget online cart-abandoners.
In this blog, we will explore the strategies and tools offered by Near to activate your store visitors, engage competitor visitors, and leverage act-alike audiences, all with the aim of driving tangible return on investment (ROI).
Understanding the Power of Location
When it comes to understanding and activating your target audience, real-world data provides a wealth of opportunities for your brand. It’s more than just a pin on a map – it offers valuable offline insights that can take your advertising efforts to new heights.
Think about it. By understanding your audience’s movement, you gain valuable insights into their specific tastes, preferences and aspirations. You gain visibility into the context in which they make purchasing decisions. But how does this insight translate into action?
This is where location-based advertising comes in. It enables advertisers to deliver hyper-personalised messages to an audience, at scale.
This precision targeting ensures your messages reach the right people, in the right place, at the right time. Location-based advertising allows you to create contextually relevant experiences for your audience, as you leverage real-time location data to deliver messages that seamlessly blend with their immediate surroundings. The result? Your messaging resonates on a deeper level, capturing attention and inspiring action.
Targeting and Engaging Store Visitors
Capturing the attention and loyalty of your store visitors is crucial in the dynamic world of retail. With the power of location-based advertising, you can transform your marketing approach and create personalised experiences that resonate with your audience, at scale.
Personalisation is key to driving value from your store visitors. By harnessing the rich insights provided by real-world data, you can tailor your messaging to their demographics, behaviour and preferences.
Proximity to yours or your competitors’ stores is another powerful strategy for engaging your most valuable audience. By leveraging geofencing technologies, you can push real-time offers and timely reminders. By capturing their attention at that moment of consideration, you elevate your chances of driving them through your doors. This geofencing technology offers a more affordable and efficient alternative to traditional in-store retail media. It allows you to engage with your store visitors without the need for costly physical displays or distribution channels.
Reaching your store visitors at the right place and time creates a sense of urgency and relevance that can drive footfall and conversion. By leveraging the power of location-based advertising, you position your brand as the go-to destination for their needs.
Proving ROI with real-life data
Protecting your marketing dollars requires attributing advertising campaigns to tangible results. But how can you ensure your ads are delivering measurable outcomes? It all starts with measuring the right metrics. By aligning your objectives with the KPIs that matter to your brand, you gain a deeper understanding of the impact your campaigns have.
Instead of solely relying on metrics like Cost-per-Click (CPC) and Cost-per-Mille (CPM) that offer insights into efficient audience reach, it’s important to measure tangible results that directly impact your brand, like footfall and conversions.
Metrics like Cost-per-Visit (CPV) provide actionable insights to refine your marketing strategies. This metric bridges the gap between digital and physical worlds, providing visibility into the customer journey from online interactions to offline actions.
By measuring CPV, you can assess the correlation between advertising costs and in-store revenue, proving the true return on investment (ROI) of your advertising efforts.
Real-Life Success Stories
We partnered with Mindshare and an iconic Australian Quick Service Restaurant (QSR) to achieve remarkable results leveraging location-based advertising strategies. Let’s dive into the winning ad strategy:
Case Study: QSR drives 50% Uplift in Footfall with Custom Audience and Creative Ad Strategy
Mindshare faced several challenges when promoting the QSRs Value Box Range, including taking market share from their competitors.
They implemented Near’s ‘Triple A’ approach, authenticating an audience segment that frequented their competitors’ restaurants, activating this audience with “Tap-to-Map” rich media creative, and attributing footfall to the QSR.
The campaign resulted in a 50% uplift in footfall and 15% first-time customer acquisition.
Read the full story to discover how this QSR maximised footfall and achieved remarkable success through Near’s data-driven approach and strategic audience targeting.
Best Practices and Tips
To effectively activate your brand’s most valuable audiences while also increasing effective scale, consider these best practices and tips:
Personalise Messaging for Relevance
Tailor your messaging based on real-world data to address your audience’s needs, pains and desires.
Continuously Refine and Optimise
Analyse campaign performance and optimise targeting, messaging, and creative based on data-driven insights
Measure Footfall and Conversion Metrics
Incorporate real-world data to measure metrics like store footfall, visitation lift, and conversion rates to assess the effectiveness of your advertising efforts.
Optimise Ad Creative and Formats
Experiment with different ad creatives and formats including rich media, interactive content and immersive experiences, to capture attention and drive engagement.
Identify and Segment Valuable Audiences
Identify your most valuable audience segments, including store visitors and customers who frequent your competitors’ stores. Leverage “act-alike” modelling to identify audiences that behave similarly for increased scale.
By implementing these best practices and tips, you can effectively activate your brand’s most valuable audiences, maximising the impact of your advertising campaigns and driving tangible results for your brand.
Want to learn more about Near’s solutions? Sign up for a demo!