By Ester Solsona, on 1 May 2024
Geomarketing is a specialized form of marketing that harnesses geographic and customer movement data to deepen understanding and craft more impactful strategies.
Geomarketing is mainly used by businesses with physical stores. It helps business owners analyze how many people have visited their store after a specific marketing campaign, identify area trends, research local competition, understand the characteristics of the environment, and determine customer origins.
Brands planning to open physical stores also use geomarketing to identify the best location.
Geomarketing and AI: The Perfect Match
Despite the rise of ecommerce, many people continue to place greater trust in brick-and-mortar stores, particularly those in their local neighborhoods. This preference stems from the personalized service offered by staff.
It is also common to see consumers visit physical stores before making online purchases.
Data like this proves that physical shopping is far from dead, and practices like geomarketing applied to physical businesses remain vital in a marketing strategy.
But physical retail stores are not the only ones that can benefit from geomarketing; it's also useful for online sellers.
Before the advent of Artificial Intelligence, various technologies were applied to geomarketing, such as:
- Geofencing: Creating virtual geographical areas where entering triggers a response like sending an email or mobile notification.
- Local SEO: Ensuring your company appears when users search for local keywords.
- Geo targeted advertising: Customizing promotional content for a specific location.
While traditional technologies and techniques remain relevant, the advent of AI has revolutionized the field, complementing existing practices. While conventional methods primarily focus on collecting location data, Artificial Intelligence excels in analyzing this data to autonomously generate metrics, percentages, and invaluable insights. Moreover, AI has the capability to identify trends and patterns that often elude human teams, enhancing the depth and accuracy of analysis.
Benefits of Applying AI to Geomarketing
- Better decisions: Artificial Intelligence can identify trends and patterns that would be challenging for humans to detect, making it a powerful tool for creating a more potent marketing strategy.
- Increased profits: Making better decisions increases the likelihood of a successful marketing campaign, leading to more sales and revenue.
- More personalized marketing strategy: Geomarketing and AI provide valuable data to better understand and segment consumers. This leads to creating a much more personalized marketing strategy for each customer group.
- Improved store location: With the help of AI, you'll have more information to decide the best location for your physical store. This will help you attract more customers or better-quality customers, i.e., customers who are part of your target audience.
Geomarketing Solutions with Artificial Intelligence
There is a wide variety of geomarketing tools that apply Artificial Intelligence to offer a much more comprehensive and perfected service to brands. Below are some examples.
Geometrix
Geometrix is an innovative Artificial Intelligence platform tailored for geomarketing, specifically designed to assist physical stores understand the efficacy of their advertising campaigns on street-level sales.
With Geometrix, you can:
- Measure the flow of your physical store.
- Locate customers and potential customers.
- Determine the perfect combination of channels and strategies for your marketing campaign.
- Measure the effectiveness of your marketing strategy.
- Visualize your real physical areas of influence to create better micro marketing campaigns.
MisterGis Geomarketing
MisterGis Geomarketing is a platform very similar to Geometrix, but while Geometrix focuses more on micro marketing, MisterGis is aimed at companies with a broader or global reach. Therefore, if your company has a more international reach, this tool would be more suitable for you. However, if your business is more local or neighborhood-based, Geometrix may be the better option for you. In any case, both are quite advanced and can help improve your marketing campaigns!
