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 00:00Introduction and Background 05:12What is Geofencing? 08:38How Geofencing Helps Merchants 09:46Protecting Consumer Privacy 11:18Democratization of Geofencing 12:58Success in Different Industries 13:38Identifying Target Customers 15:00Geofencing for Alcohol and Beverage Industry 15:30Data Location and Customer Identity 16:32Behavioral Data and Targeting 18:18Geofencing in Different Locations 21:57Geofencing in B2B and Supply Chain 22:55Geofencing for Vacation Rentals and Retreats 24:36Turning Skepticism into Success 26:44The Future of Commerce and AI 27:29Types of Ads and Delivery 28:44Trends in Commerce 33:01Shameless Plug: Barbara Wardell 33:56Shameless Plug: Ernesto Caleri