Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
These days small businesses are sharpening their focus on hyperlocal advertising and marketing, an attractive option that presents an opportunity to engage with customers at the optimum time and place. Simply put, hyperlocal advertising focuses on a specific, local area, whether it’s a particular town, suburb, or even a specific group of streets.
Before your company gets ready to make this kind of move, it’s imperative that you ask yourself some pointed questions:
1. Do you fully understand hyperlocal? Consumer trust is critical to success. Nowhere is a potential violation of this confidence more precarious than with a hyperlocal campaign. Many believe hyperlocal campaigns consist of businesses firing off marketing offers to consumers’ mobile devices willy-nilly whenever they pass a store. In truth, customers are interested in receiving locally relevant ads on their terms (perhaps twice a month) and don’t want to be inundated by brands every time they pass their local Starbucks.
2. Is hyperlocal a fit for my business? Does your business have a large-enough customer base to warrant such an investment? If so, the next step is to look at what you are selling. Hyperlocal best suits businesses trying to move products that have both value and a limited shelf life. Last, does your business have real-time, 24/7 visibility into inventory and the ability to see what is available at any given moment?
3. What is the competition doing? Have your competitors already deployed a hyperlocal campaign? If so, chances are they are grabbing your customers right now. If they have not taken action, you have an opportunity to be the first to the punch.
4. Do you know your audience? While attracting new customers is key for ongoing business success, hyperlocal is really best suited for your current customer roster. If you’re ultimately looking to strengthen your customers’ commitment to your brand, hyperlocal is for you.
Chief Executive Officer
Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.
To submit a tip for consideration, first check our archive of previous tips to make sure you're not repeating a tip someone has already contributed. Then send the tip to Small Business channel contributor Michelle Dammon Loyalka. Because of the volume of material she receives, she may not respond to each individual.