The Value Creators Podcast Episode #53. Big Tech for Small Businesses: Unleashing the Power of Geofencing with Barbara Wardell and Ernesto Cullari

How can small businesses best use cutting-edge technologies? Geo-fencing is a great example, providing location-based advertising to drive traffic, revenue, and ROI for local businesses. What does the future hold for small businesses as they integrate advanced tech to personalize customer experiences?

In this episode of the Value Creators Podcast, Hunter Hastings explores these questions with Barbara Wardell and Ernesto Cullari of Cullari and Wardell, a pioneering service provider in geofencing and location-based marketing solutions. Barbara and Ernesto share their expertise in helping small and medium-sized businesses harness advanced technologies to attract customers, increase conversions, and create sustainable growth.

They emphasize a customer-centric approach, leveraging tools like GPS tracking and demographic data to tailor highly targeted ads that resonate with local audiences. By combining technology with a deep understanding of small business challenges, they demonstrate how geofencing can deliver measurable results, from attracting new customers to optimizing location choices based on foot traffic studies.

Barbara and Ernesto also discuss the importance of hyper-specialization, ROI measurement, and the evolving future of advertising, where AI and privacy-sensitive data play a pivotal role. For small business owners, this episode offers actionable insights into leveraging big tech to compete effectively while maintaining the personal touch that defines their success.

This conversation is a masterclass on how to think and act as value creators, showcasing how innovation, technology, and customer focus can unlock new opportunities for small businesses.

Resources:

➡  Learn What They Didn’t Teach You In Business School: The Value Creators Online Business Course

Barbara Wardell & Ernesto Cullari’s Agency

Connect with Hunter Hastings on LinkedIn:

The Value Creators on Substack

Knowledge Capsule:

 The Role of Small Businesses in the Economy

• Small businesses are the “heart” of the economy, offering personalized services and filling niches that large corporations overlook.
• The success of small businesses relies on their ability to remain competitive by leveraging technology and better communication to attract and retain customers.
• Examples like family pharmacies and local doctors’ practices illustrate how personalized service can outperform larger corporate competitors.

Leveraging Big Tech for Small Businesses

• Small businesses can now access advanced technologies traditionally reserved for large corporations, such as geofencing, big data, and targeted advertising.
• This technological democratization allows small businesses to compete effectively with larger rivals.
• Tools like GPS tracking, mobile targeting, and data analysis are used to level the playing field.

Introduction to Geofencing

• Geofencing involves drawing virtual boundaries around specific locations to deliver targeted ads based on customer behavior.
• Businesses can target competitors’ customers, drawing them to their services by offering personalized and timely advertisements.
• The technology tracks customer visits and can distinguish between natural traffic and those influenced by advertising.

Advanced Targeting Capabilities

• Geofencing allows businesses to target specific demographics and behaviors, such as lease renewals for car dealerships or specific zip codes for localized ads.
• It can be used for niche industries like laundromats, tailoring ads to different languages and regional preferences to maximize customer engagement.
• Event-specific targeting and weather-based ads expand the application range of this technology.

The Value Learning process in Advertising

• A comprehensive value-learning approach ensures that customers are targeted at every stage, from value awareness to value conversion.
• Tools include connected TV, audio ads, online retargeting, and native ads, all tailored to different stages of the customer journey.
• Businesses are advised to utilize a mix of media to guide customers from first exposure to making a purchase.

ROI Measurement and Long-Term Data Analysis

• Geofencing provides precise ROI metrics by tracking customer visits and conversions.
• Businesses can calculate the cost per visit and compare it with customer lifetime value to ensure advertising effectiveness.
• Long-term foot traffic studies help identify trends, customer behaviors, and optimal business locations.

Applications Across Industries

• Geofencing is versatile, used in diverse sectors such as retail, healthcare, real estate, and events.
• Examples include targeting hurricane-affected areas for home repairs, or specialized clinics using connected TV ads to reach potential patients.
• Industries like HVAC services and medicine can also benefit from targeted advertising strategies.

The Future of Technology in Small Businesses

• The future will see more small businesses integrating AI-enabled tools for ad creation and management.
• Geofencing is set to expand, leveraging privacy-sensitive location-based data for highly targeted and effective advertising.
• The concept of “extended businesses” allows small companies to outsource expertise and access big tech solutions without significant in-house investments.

Importance of Specialization

• Specializing in a niche, such as laundromat advertising or HVAC services, allows businesses to master their offerings and outperform competitors.
• Cullari & Wardell exemplifies this by focusing on geofencing and scaling its expertise to new industries.
• Hyper-specialization fosters innovation and positions businesses as leaders in their fields.

The Role of Personalized Messaging

• Personalized and localized advertising resonates better with target audiences and builds trust.
• Ads on platforms like Amazon, Hulu, or Spotify enhance credibility and help businesses appear more professional and trustworthy.
• Tailored messages, such as targeting customers during lease renewals or specific community events, drive better engagement.

The Power of Foot Traffic Studies

• Foot traffic studies provide actionable insights into customer behaviors, helping businesses select optimal locations or plan expansions.
• By analyzing trends like demographic shifts or shopping patterns, businesses can adapt to changing market forces.
• These studies also help businesses align their offerings with local economic conditions.

Overcoming Technological Barriers

• While technologies like geofencing can be intimidating, partnering with experts ensures effective implementation.
• Businesses can start with affordable ad spends and scale up as they grow, making advanced marketing accessible even for smaller budgets.
• Agencies like Cullari & Wardell provide the expertise to close the loop on advertising by linking campaigns directly to measurable outcomes, like foot traffic and conversions.