Geomarketing is the integration of geographical intelligence into various aspects of marketing, including sales and distribution. Geomarketing research is the use of geographic parameters in marketing research methodology, including from sampling, data collection, analysis, and presentation. Geomarketing Services related to routing, territorial planning, and site selection where the location is the key factor for such disciplines.
The core base of Geomarketing is the digital map; it can either make or break the concept. Equally important, though, is the association of data with these maps using a few place-based component.
In marketing, geo (also called marketing geography or geomarketing) is a discipline within marketing analysis which uses geolocation (geographic information) in the process of planning and implementation of marketing activities. It can be used in any aspect of the marketing mix – the product, price, promotion, or place (geo targeting). Market segments can additionally correlate with location, and this can be useful in targeted marketing. The methodology geomarketing is successfully applied in the financial sector through identifying ATMs traffic generators and creating hotspots maps based on geographical parameters integrated with customer behavior.
Geomarketing has a direct impact on the development of modern trade and the reorganisation of retail types. Site selection becomes automated and based on scientific procedures that saves both time and money. Geomarketing uses key facts, a good base map, proper data layers, reliable consumer profiling, and proper success/fail criteria.
Geo marketing software
Geolocation software is used to display data that can be linked to a geographic region or area. It can be used to:
- Recommend nearby social events.
- Determine where the customers are (on country, city, street or user level).
- Determine who the customer is (on organisation or user level), or make a guess on it based on earlier encounters by tracking IP address, credit card information, VOIP address, etc.
- Visualize any data in a geographic context by linking it to a digital map.
- Locate a web client's computer on a digital map.
- Calculate summary information for specific areas.
- Select customers within specific areas.
- Select customers with a certain radius of a point.
- Using micro-geographic segmentation select customers similar to a specific type in the rest of the country.
Some of the software used includes Geoconcept Sales&Marketing Portal, MapInfo, ArcGIS (ESRI), RegioGraph (GfK), WIGeoWeb (WIGeoGIS) assorted open source like Mapwindow, DIVA (which while normally used for bio-diversity creates quite visually pleasing density maps), GRASS (which works in Linux and Windows environments) GeoEdge (tracking local ads and pages). Several additional software are available. Indeed, Google Earth provides an excellent set of images that are always useful.
Applications for Geo
Different content by choice
Location-based social media marketing uses geo-specific tools to draw imaginary perimeters that will display all of the social content posted by users in that particular area. A typical example for different web content by location is the FedEx website at FedEx.com where users have the choice to select their country location first and are then presented with different site or article content depending on their selection.
Automated different content
- Solve problems regarding location of a new retail outlet
- Map consumer demand trends to best distribute products and advertising. This links with trade zone management.
- Scope digital advertising towards individual consumers.
- Research consumer shopping patterns and observe traffic within shopping centres and between retail outlets. It additionally helps in visualisation of market research findings and help improve the overall planning ability of organisations.
- Improve customer cooperation.
- Creation of sales territories
We can define the geo-marketing as a strategy and mechanism that provides valuable information that helps in the process of making business decisions using geographical information. The functions of this to search and evaluate marketing opportunities, analysing geographical information such as location residential areas, topography, it additionally analyses demographic information such as age, genre, annual income and lifestyle. This information can be segmented as primary data and sub-segmented as secondary data; in addition, it helps us to develop successful promotional campaigns achieving our marketing goals. This additionally works with retail chain stores in the sales industry, real estate, and renewable energy, among others.
With the geo-marketing, the general data of a company changes to be more specific regarding their customers and market trends. This allows companies to use secondary data wisely, providing excellent results at low cost compared with traditional market research methods. All data is acquired accurately with GPS equipment and geographical information software, once the data is acquired, this information is processed by professionals in the field.
Geo-Marketing has helped companies to acquire valuable information such as transit behaviors, most visited places or areas, etc., this information will help these companies to deliver the right message (or promotion), at the right time and place. Most companies use their mobile apps to obtain this information. Mobile apps became more sophisticated using GPS, Bluetooth, and additionally social networks to obtain their market information, this information helps to improve their promotional campaigns. According to comScore. com, about 60 percent of all Internet activities in the U.S. originates from mobile devices and about half of total Internet traffic flows through mobile apps.
One example of Geo Location is Google Maps - you can search in Google Maps Restaurants near me and it will show different options around your location. One important factor that companies (in this case restaurants) is that they must be sure to optimise their business in Google's directory list.