The power of geofencing: Maximize your B2B event marketing budget

In the fast-paced world of B2B marketing, event marketing continues to be an impactful tool for connecting with your target audience and building relationships with potential clients and partners. However, event sponsorships can be expensive and may not always yield the desired return on investment. As B2B marketers strive to maximize their event marketing budgets, geo-specific tactics such as geofencing have emerged as a unique way to capture the attention of targeted audiences at a fraction of the cost of traditional sponsorships.

What is geofencing and how does it work?

Geofencing is a location-based marketing strategy that enables you to create a virtual boundary around a specific geographical area and target people within that fenced area with display ads. Using GPS or other location-based services, you can set up a geofence around an event venue, affiliated hotel, or even a nearby restaurant. When someone enters the defined area with a location-enabled smartphone or other device, they will automatically start receiving targeted ads, which can be customized based on their demographics, interests, and buying behavior.

Utilizing geofencing for B2B event marketing

Geo-fence display campaigns are a cost-effective alternative for reaching users at events where you might not have the budget to sponsor. These campaigns allow you to engage with event attendees without the hefty price tag of a booth sponsorship. In addition to saving money, geofencing can provide valuable insights into your target audience’s behavior, preferences, and pain points, helping you tailor your messaging and offers to their specific needs.

Geo-fencing competitor events is a strategic way to reach prospects that are attending events hosted by your competitors. By setting up a geofence around the event’s venue, you can deliver highly targeted ads to attendees, encouraging them to explore your offerings or visit your booth at a different event. This approach can be particularly effective if you offer a unique solution or a competitive advantage that your competitors don’t.

Targeting beyond the event venue

With geofencing, you are not limited to targeting the event’s conference center. You can expand your reach by setting up geofences around affiliated hotels, nearby restaurants, and even event after-parties. This multi-location approach allows you to engage with event attendees throughout the day, increasing the chances of making a lasting impression and establishing a meaningful connection.

Our favorite use cases for geo-specific ads: 

Drive booth visits

Geofencing can be used to target attendees with ads that promote your booth. By offering attendees incentives such as special discounts or sneak previews of upcoming products, you can drive traffic to your booth and increase the chances of meaningful engagements with potential clients and partners.

Promote giveaways and contests

Use geofencing to highlight any giveaways, contests, or swag you’re offering at your booth. This can generate excitement among attendees and encourage them to stop by your booth to participate and receive their prizes.

Encourage after-party attendance

Geofencing can also be used to promote your company’s event after-party. Use targeted ads to drive RSVPs during the event. Create a buzz among attendees about your exclusive after-party, which can provide additional opportunities for networking and relationship building.

Build brand awareness and trust

For B2B companies that may not be well-known among event attendees, geofencing can be used to build brand awareness and trust. Target attendees with ads featuring testimonials or case studies showcasing your company’s successful partnerships and solutions. This can help position your company as a trusted and credible player in the industry.

Engage with prospects post-event

Extend your engagement with event attendees by targeting them with follow-up ads after the event. This can help keep your company top of mind and continue the conversation started at the event.

Geo-conquesting

Target attendees of competitor events with geofencing ads highlighting your unique value proposition or competitive advantage. This can be an effective way to capture the attention of potential clients and partners who may be considering your competitors.

Highlight keynote speakers or breakout sessions

Use geofencing to promote keynote speakers or breakout sessions at your event. This boosts attendance at these sessions and sparks excitement around the content presented.

Promote product demos

Use geofencing to promote live product demos at your booth. This can help attract attendees interested in seeing your product in action and understanding its features and benefits.

Highlight event partnerships

Use geofencing to highlight any partnerships or collaborations with other companies at the event. This can help create a sense of community and strengthen relationships with event partners.

Encourage app downloads

Use geofencing to encourage event attendees to download your company’s app. This can help increase engagement and provide additional opportunities for communication and interaction with attendees.

Conclusion

As B2B marketers continue to explore new ways to maximize their event marketing budgets, geo-specific tactics like geofencing are proving to be invaluable tools for reaching targeted audiences in a cost-effective manner. By strategically utilizing geofencing, you can engage with event attendees at competitor events, circumvent the high costs of booth sponsorships, and extend your reach beyond the event venue. Geofencing offers a flexible, affordable, and data-driven approach to event marketing. It enables you to make the most of your marketing budget and build lasting relationships with your target audience.

Want to learn more? Contact DemandWorks today. We have more than ten years of experience in geofencing and more!