The beginning of a brand–new decade is the perfect time to reassess your business strategy and future-proof your organisation. This task is as broad-ranging and ambitious as it sounds, so a time-saving location intelligence tool that yields fresh insights is a must.
Location intelligence can help you make decisions for your organisation across the board, including:
- Location strategy
Deciding where to give your brand a physical presence is essential to your overall business strategy. Location intelligence can help you maximise ROI on your next branch by working out where current and prospective customers are, identifying the best locations for your branches/sites, then giving local prospects relevant incentives to become loyal customers.
- Marketing strategy
A comprehensive location intelligence tool such as Periscope® generates insights about your customers that you can harness to create highly-targeted marketing campaigns. For example, if you know that a particular product sells well to a segment of your audience in a specific location, you can create personalised offers around similar products. Or, if you know where your most profitable customers are located, you can use Periscope’s® advanced technology to find ‘lookalike’ locations that are likely to be home to new prospects with similar features.
- Property strategy
An advanced location intelligence tool such as Periscope® will help you instantly identify which parts of your commercial property portfolio are profitable and which are under-performing. Using your own secure, corporate version of Google Maps, you can gain a single view of the aspects that comprise each property’s performance. For example, you may spot that properties located near train stations perform better than those with only road access. These sorts of insights can help you plan your 2020 business strategy, whether you are looking to take out more office space, or streamline your commercial property portfolio.
Plan your 2021 business strategy with Periscope®
According to Forbes, location-based intelligence is ‘critical’ or ‘very important’ to business success, for 66% of enterprises.
A high–quality location intelligence tool can help you:
- Make strategic decisions
- Mitigate risk
- Improve customer acquisition/retention
- Increase profitability
Periscope® from Newgrove is a complete location intelligence solution that can take huge datasets and turn them into actionable Google Maps-based visualisations. This enables you to make instant observations about where your customers are, and how your various locations are related to the success of particular products or campaigns.
Periscope® can collate and simultaneously overlay up to 200 insightful attributes on top of your own performance and customer data. These include:
- Census data
- Socio-economic data
- House prices
- Infrastructure details
Being able to view these attributes alongside your own data can uncover new insights that can help give you a fresh perspective as you plan your 2021 business strategy.
Finally, you can use the ‘lookalike’ functionality to uncover new locations with similar features to those which are performing well: an invaluable way of reducing the risk that is usually inherent when selecting a new location.
Plan your 2021 business strategy with the help of Periscope® from Newgrove: sign up for a free, 10-minute demo today.