21, August, 2023, Budapest, Hungary
Competition has always been fierce in the business world. Stores, especially outlet centers, need to look for strategies that help them stand out from the crowd and effectively reach potential customers.
Location-based marketing, based on the combination of mobile technology and location, is becoming increasingly popular as it offers businesses the opportunity to connect directly with customers and provide them with personalized offers and promotions.
In this article, we will examine why it is worth implementing location-based marketing in an outlet center, what costs it entails, and how effective it is in retaining existing customers and acquiring new customers.
Why is location-based marketing beneficial in outlet centers?
Targeted marketing: The target audience of outlet centers is largely price-sensitive customers who are looking for high-quality products at favorable prices. With the help of location-based marketing, stores can precisely reach this target group, since they can determine exactly where the potential customer is based on location and send them personalized messages and coupons.
Retaining customers, visitors and attracting new ones is a clear business imperative. Whether outdoors or indoors, you need to be able to deliver targeted and effective messages to your existing and new customers and partners. This is professional digital content that should be made available when and where it is most useful to your users.
Indoor and Outdoor Navigation: Continuous improvement and development is a must, as is the ability to differentiate yourself in the marketplace. If you do not do it, do not think that your competitors will not. The aim is to retain customers, to please the visitor. The tool is IT. Indoor (or even outdoor, between buildings) positioning greatly simplifies the - sometimes truly frustrating - task of navigating within a building, as users don't have to enter their current position when navigating from point "A" to point "B", or even know where they are at all.
They simply click where they want to go and the system guides them step-by-step. Likewise, they don't have to worry about counting doors, turns and the like, or finding and using lifts. They can see their real-time position on the map (blue dot) as they pass through the building(s).
Increased customer engagement: Location-based marketing allows businesses to deliver personalized and relevant content to customers. This increases customer engagement, as customers feel that the outlet center really cares about their needs and preferences.
Increases customer loyalty: Strengthening customer loyalty is critical for outlet centers, as returning customers generate significant revenue in the long term. Loyalty programs, coupons and offers created through the location-based marketing mobile application make the outlet center more attractive to customers and build a long-term relationship with them.
Building Your Fanbase: Do you remember? Donald Trump got rid of roughly 89 million followers with a single click on Twitter. In many cases, you can read about the suspension of business Facebook and other platforms. The solution is to organize your very own fan database, on your own system. You have to stand on multiple legs. Social media platforms can only handle certain phases of engagement, a complete 21st century digital customer journey requires yourcown platform to involve customers.
The possibility of publishing unique content: A couple of examples. Location for booking appointments for presentations and events. 360-degree feedback, the buyer himself can send messages back to the system, where the effectiveness of a campaign can be measured immediately based on the measurement of content consumption. Questionnaires and polls. With a customer satisfaction measurement system, you can even initiate a competition between places that provide the same service and goods.
The costs of implementing Location-Based Marketing
The introduction of Location-Based Marketing may entail certain costs for outlet centers. However, the long-term benefits and returns that businesses can achieve outweigh the initial expenses. Costs may include:
Mobile application development: The outlet center must develop a mobile application or integrate location-based marketing functions into its existing application. This may require development work and possible license fees.
Location Technology: The acquisition of location technology for location-based marketing, such as Bluetooth-based devices and software, may incur costs.
Data Collection and Analysis: The outlet center must collect data and use analytical tools to measure and optimize the effectiveness of location-based marketing.
Marketing Campaigns: Taking advantage of location-based marketing may require marketing campaigns that deliver targeted messages to customers. An "empty" system is the death of the implementation. If such a service already exists, it must be filled with content. This requires time, energy and resources. In addition to the benefits and costs, the wisely chosed time of implementation of location-based marketing is also an important factor.
And if you've read this far, consider what if you could even make money on implementing such a system, with all its benefits, by involving your entire business ecosystem. Impossible? Not at all!
How does a location-based marketing mobile app help retain existing customers and acquire new ones?
For outlet centers, location-based marketing through mobile applications helps retain customers and acquire new ones in two ways:
Retain existing customers: Location-based marketing applications allow outlet centers to provide personalized offers and discounts to existing customers. Loyalty programs, coupons and promotions make it more attractive for customers to visit and shop regularly, thereby increasing customer loyalty.
Acquisition of new customers: With the help of location-based marketing, outlet centers can target potential customers who are likely to be interested in the store's offer. With the help of location-specific offers and content, stores generate interest and attract new customers.
To measure post-launch effectiveness, outlet centers should pay attention to feedback, customer activity and sales growth. Although specific results depend on the specific outlet center, the quality of the application and the effectiveness of the marketing campaign, general experience shows that location-based marketing mobile applications significantly contribute to expanding the customer base and strengthening customer loyalty.
With location-based marketing mobile applications, outlet centers can effectively reach and retain customers while also acquiring new ones. Targeted marketing, increased customer engagement and increased customer loyalty can give businesses a competitive advantage in the marketplace.
Although implementation may incur costs, the long-term benefits and efficiencies may outweigh these expenses. For outlet centers, location-based marketing is a tool that allows them to stay ahead of the competition and take better advantage of the opportunities offered by mobile technology and location.
If you are looking for a system that even supports modern indoor and outdoor navigation, in addition to location-based and location-independent marketing services, then call the mobile number +36 30 982 13 68.