Enterprises are heavily investing in geo-based marketing technologies to connect to their ideal buyers. According to the latest 2019 report by Zion Market Research, the global geomarketing market spending was about $7.4 billion in 2018 and is expected to reach approximately $38.1 billion by 2025.
Re-targeting Audiences Across Social Media Platform
When it comes to B2B businesses, LinkedIn is the most popular and effecting marketing social media marketing channel. LinkedIn advertising can be used to geo-target audiences and also factor in demographics for more accurate results. As part of Omnichannel marketing efforts, these leads can then be re-targeted across other social media platforms like Facebook and Twitter. Other platforms like Instagram and Snapchat also provide geo-based targeting options.
A recent study by Search Engine Land showcased that geo-targeted mobile display advertising achieved double the CTRs compared to the standard industry target. According to Marketing Profs, more American adults use mobile devices than traditional computers when searching for local products and services. The success of location-based strategies is heavily dependent on mobile device usage as it provides accurate segmentation data based on geographical location. Decision makers are using smartphones and tablets to navigate their buying journey in new ways. For example, B2B trade shows can use geo-targeting to send out personalized invites based on their hosting location to respective leads in the area. By setting up a virtual geofence, a gathering of business owners, employees or consultants at a convention, seminar or webinar can be engaged with. Geo-targeting allows B2B enterprises a pathway into mobile-based marketing which was previously solely proprietary to B2C marketers.
As Geomarketing efforts are showing favorable outcomes, marketers are trying to figure out ways to deliver the same results for B2B organizations. A few limitations and challengers they commonly face are:
The rate of B2B buyers buying more products online for their companies is increasing steadily.
Buyers are slow to make the shift to mobile.
B2B clients are less likely to be on their phones during office hours.
As much as these limitations provide a real hindrance to marketing efforts, with further developments in the future it is just a matter of time before marketers crack the code to make geomarketing mainstream within the B2B sector.
Read more: https://deck7.com/blog/lead-generation-guide-for-b2b-companies?utm_source=Niranjan&utm_medium=backlink