Do you ever notice that your phone chimes whenever you'renear your favorite restaurant with a promotion about a new appetizer or drinkspecial? Have you become accustomed to receiving a conveniently timed messageabout a sale that's going on when you drive past a mall? For some, these may bewell-placed cases of serendipity; for others, it may be the shopping godssending good vibes their way. Whether you believe it's karma or just an oddcoincidence, one thing is certain: geo-notifications are an essential part ofmobile advertising campaigns.

What is a geofence?

To understand how geo-notifications work, you must firstunderstand geofencing.This is the term of art given to location-based services that use GPS, Wi-Fi orcellular data to elicit a certain response whenever a mobile device enters aparticular area or venue.

Common uses for geofences

Geofencescan be configured to generate push responses, send targeted text messages ortrigger specific advertisements for consumers when they enter (or exit) achosen area. In a nutshell, a developer or app administrator creates a virtualboundary around a specific location using a GPS- or RFID-enabled software (suchas Google Maps). When the user of an app reaches or gets near the location(essentially entering the geo-fence), a response will be triggered, and the appuser will receive a notification.

While one retailer may establish a geofence around anintersection near its location, another may build one around a competitor sothat a customer will receive an enticing offer that may draw them away from arival. Other retailers may choose to build around outlet centers orcomplementary venues to maximize secondary sales. Whatever the use, geofences are necessaryfor effective mobile ad campaigns.

As mobile advertising becomes a mainstream method of winningnew customers, financial institutions can make the most of the virtualmarketplace. Imagine the ability to remind account holders of the newest carloan promotions right before they reach a car dealership. Consider the benefit ofnudging potential homebuyers to promote the latest (and lowest) rates on30-year mortgages.

Working with Larky

A knowledgeable business partner can help lead the way. Larky is a business-minded company known for building compelling and informative engagement programs for financial institutions. Larky understands how to connect with a particular audience by generating the right message at the right time and place. Larky's knowledge base has been developed through thousands of interactions with financial institution leaders, account holders, app developers and advertising engineers. For instance, Larky understands the importance of geofencing on users' mobile phones because its technology is the most power-friendly in the industry.

As alluded to earlier, financial institutions must make themost of the digital marketplace. It's no secret that millennials and Gen-Zersare better approached through mobile devices compared to Baby Boomers and GenXers. This means younger account holders represent an important aspect offuture growth. Larky is mindful of the subtle nuances between different accountholders and can help financial institutions gain new business while cultivatinglong-lasting relationships. The possibilities are endless when you considerreal-time promotions and personalized content.To learn more about how developing and/ormaintaining a personalized mobile advertising plan, contact Larky.