What is Addressable Geofencing (Addressability)?
What is Addressable Geofencing?
Addressable Geofencing also known as addressability, is a programmatic marketing technique that allows a business or an agency the ability to reach devices such Smart phones, Connected TVs, desktops, laptops or tablets at the address level with a targeted message relevant to that potential customer through mediums such as Display Ads, Video Pre-Roll, Streaming Audio Ads or OTT (Over-The-Top). Addressable Geofencing allows for hyperlocal, one-on-one targeting using 1st and 3rd party audience data to create the highest quality pool of prospects that a business can research.
How Does Addressable Geofencing Work?
The new technology uses plat lines from public property records to create a geofence around each property. These digital lines match the actual property lines of the real location to a 90% level of accuracy. The concept also uses GPS to raise its precision.
Addressable geofencing can be used alongside other forms of geofencing to further segment an audience. You can now layer in new digital channels while improving on traditional ones.
How Can Addressable Geofencing Help My Business?
There are several ways addressable geofencing can help your business here are a few:
- Scalability - Companies have the ability to grow programmatic advertising campaigns when needed outside of the limitations of IP based solutions.
- Attribution - Companies now have the ability to track any uplift in foot traffic.
- Performance - Addressability improves the performance of direct mail campaigns through improvements in frequency and reach.
- Personalization - Creative now has the ability to personalize advertisements based on 1st and 3rd party data sources.
- Omnichannel outreach - Addressable geofencing targets all devices within that address, including smartphones, TVs, desktops, laptops and tablets.
- Data overlap - Companies can segment audiences further with information culled from offline databases.
What About Privacy Laws?
When gathering information at such a personal level, it makes sense to question whether the practice remains in compliance with privacy laws and ethical business. The technology scrubs the data you collect of any information that can personally identify anyone. There is no risk of a breach of privacy, but you lose none of the important metadata that will bolster business.
For more information about addressability and what it can do for your business, contact XPND. One of our dedicated experts will get back to you in a timely manner.