As a location-based technology, geofencing relies on several technologies, including Wi-Fi, GPS, radio-frequency identification (RFID), and Bluetooth. While that seemed impossible decades ago, it's now a reality for business owners.

With geofencing marketing, which is compatible with 92% of U.S.

smartphones, you can reach your audience in new ways, boosting your profits to record levels. That's because geofence marketing advertises to users based on their location, which you can make as specific as 1000 square feet.

Keep reading our handy mini-guide to get the scoop on this powerful marketing tool.