Whilst you probably already deploy tactics such as display advertising, retargeting, email marketing, SEO and PPC to get your business and products out there in the eyes of existing and new users, you may also be looking for tactical solutions to out-perform your competitors. Attracting your competitor’s audience and customers is one such way of doing this.
You might have considered bidding on your competitors’ brand terms when it comes to PPC advertising. This is a tactic that can work really well if you get your approach right. It relies heavily on the wording of your ads – they really need to stand out and grab the attention.
It isn’t without its pitfalls either. Namely, you can expect a fairly low click-through rate as if someone is searching online for a specific brand, chances are they already have their mind set on them and will need some convincing to switch. You’re also relying on users searching for those specific terms, capturing only your competitors’ brand terms. What about all their non-brand terms? Are you effectively competing on those?
Also is your PPC ad copy enough to convince?
It’s very easy to bid on the wrong competitors – too many businesses choose the big boys to compete against rather than their direct competitors. Too often, it’s a fight that’s too hard to win.
To get this approach right, there are a lot of variables that need to be considered. It’s no surprise that when it works, it really works. But on the other hand, few brands really triumph in this way.
However, there is a way to pull your competitors’ customers into one of your locations when you know they intend to buy products similar to yours.
Geo fencing works like this.
You define a specific geographic location and draw a digital “fence” around it. As users pass through the area in real-time, the technology enables you to place a digital marker on them and serve them with digital display ads on whatever device they’re using, whether a smartphone or tablet.
It’s effectively retargeting in the physical world. Except you can’t retarget users of your competitor’s website, but you can do the real-world equivalent with geo fencing.
The crucial aspect is that you define the location, meaning you’re able to draw your fence around your competitor’s location and serve their customers with ads for your products.
That’s what the technology can do for you, however, it’s key to approach it strategically.
All brands have their list of competitors, but while some may be realistic others are a little ambitious. Whilst it’s important to have goals for the future, targeting your competitors’ audience is all about the here and now.
It’s important to choose competitors that you feel you have a competitive advantage over. This could be down to better prices, deals or the size of your business. By narrowing your competitors down in this way, you’ll have a much better chance of poaching this competitor’s audience.
It’s one thing to be able to serve ads to users once they’ve visited your competitors, but you now have to make sure they’re willing to also make the journey to come and see you. You simply have to give them a reason to do so.
The right deal or offer can certainly be very tempting so take your time to consider the content of your ad.
It’s no use drawing a big geo fence around an area that includes your competitor’s location, as well as any number of other businesses. To get the most out of the technology and to be sure you’re targeting only the customers of your competitor, it’s crucial to be as precise as possible when it comes to drawing your fence.
The geo fencing technology we use enables us to target areas as small as 100 metres.
Remember the bit about your PPC copy? Well display ads give you a little more licence to showcase your brand in the best possible way, whether it’s your branding, the images you choose, the call to action, or products.
The Fluid Ads Ad Builder gives you the capability to build award-winning digital display ads that always stand out, in minutes. With feed ads technology, you’ll ensure that the products, deals and offers in your ads are always up to date. So, why wouldn’t those new users choose your brand?
Book a demo today to learn how Fluid Ads can help you use geo fencing to enhance your local advertising strategy and get ahead of the competition.
Learn how to make Retargeting work for your business and boost your conversion rate. Download the essential guide to Retargeting.
Take a look at why many reasons clients choose Fluid Ads as a digital partner or the one-stop digital ad platform for display activity.
Simple and straightforward, read our guide to see how Geofencing for Retailers can be activated easily to boost footfall in your physical locations.