Summary

Barbara Wardell and Ernesto Caleri, co-founders of Cullari & Wardell, discuss geofencing as an advertising technology and tactic that helps small businesses recover foot traffic. They explain that geofencing involves drawing virtual fences around competitor locations and sending targeted ads to potential customers when they enter those locations. They emphasize the importance of satellite-verified visits and the ability to track conversions online or in-store. They also discuss the democratization of geofencing, making it accessible to small businesses with smaller budgets. They highlight the success of geofencing in industries such as laundry, alcohol and beverage, and private aviation. They mention the importance of data location and behavior in targeting the right audience and the need to balance privacy and effective advertising. They also mention the future trend of a hybrid approach to commerce, integrating online and offline experiences, and the limitations of AI in creating human connections.

Keywords

geofencing, advertising technology, foot traffic, small businesses, competitor locations, targeted ads, satellite-verified visits, conversions, democratization, budgets, success, industries, data location, behavior, privacy, hybrid approach, AI

Takeaways

• Geofencing is an advertising technology that involves drawing virtual fences around competitor locations and sending targeted ads to potential customers when they enter those locations.
• Satellite-verified visits and tracking conversions online or in-store are important aspects of geofencing.
• Geofencing has been successful in industries such as laundry, alcohol and beverage, and private aviation.
• Data location and behavior are crucial in targeting the right audience for geofencing.
• There is a need to balance privacy and effective advertising in geofencing.
• The future trend of commerce is a hybrid approach that integrates online and offline experiences.
• AI has limitations in creating human connections and resonating with people.

Sound Bites

• "We were able to drive over 1,000 visits to one laundromat owner with a budget as small as $1,000 a month for ad spend."
• "We've taken this to private aviation, apparel, mezcal brands. We've been able to bring it to other verticals as well."
• "Even if they're not living within driving distance of a location, we can send ads to consumers like that."

Chapters

00:00
Introduction and Background

05:12
What is Geofencing?

08:38
How Geofencing Helps Merchants

09:46
Protecting Consumer Privacy

11:18
Democratization of Geofencing

12:58
Success in Different Industries

13:38
Identifying Target Customers

15:00
Geofencing for Alcohol and Beverage Industry

15:30
Data Location and Customer Identity

16:32
Behavioral Data and Targeting

18:18
Geofencing in Different Locations

21:57
Geofencing in B2B and Supply Chain

22:55
Geofencing for Vacation Rentals and Retreats

24:36
Turning Skepticism into Success

26:44
The Future of Commerce and AI

27:29
Types of Ads and Delivery

28:44
Trends in Commerce

33:01
Shameless Plug: Barbara Wardell

33:56
Shameless Plug: Ernesto Caleri