3 Strategic Considerations From Your Location Intelligence

Location intelligence is a vital strategic tool that can help you make better business decisions based on actionable, real-world data.

Find out how collating extensive data sets and using advanced location intelligence software to analyse trends quickly can give your business a strategic advantage and help you achieve your commercial goals.

Location planning strategy

Location intelligence can provide valuable insights into your stores, competitor stores, local factors and customer demographics.

Your location planning strategy might include:

  • Expanding into new areas not yet covered by your product/service
  • Growing into areas already covered by competitors
  • Analysing the location-based factors that have made your stores successful
  • Finding new locations with matching characteristics

Find out how your stores are performing in comparison to competitors’ and who has the best location in terms of premises and predicted footfall.

Learn more about the local area; who lives there; their likely educational and professional background; what products they buy; what motivates them; and, how they like to shop.

Factor these variables into your strategy to make sure your next move doesn’t come with a nasty surprise.

Marketing strategy

Location intelligence can give you the inside track on how your marketing resources are performing and when/how they could be utilised to maximum effect.

Your marketing strategy might include:

  • Selling more products
  • Appealing to a new demographic
  • Incentivising customers to choose you over a competitor
  • Making marketing resources stretch further

Find out which of your campaigns are having the desired effect within specific areas, where the untapped customers that match your marketing personas are based, and when a little extra incentive might be needed to persuade customers to choose you over a competitor.

Learn more about where your customers are, at what times, and when they’re most likely to make a purchase.

Use this insight to make your marketing resources go further by using bespoke offers and communications to target the right people, in the right locations at the right times.

Property strategy

Location intelligence can provide valuable insights into the performance of your commercial property portfolio.
Your property management strategy might include:

  • Getting a more detailed overview of property-related costs
  • Finding out which properties to update/upgrade
  • Deciding when to sell or purchase commercial property
  • Optimising your logistics network

Compare property performance to costs and decide whether you’re administering the property in the most beneficial way by aggregating data on property purchase/rental costs, updated property value, store turnover and localised footfall.

Decide which properties merit an update or upgrade due to anomalously high/low performance, or find out where you could situate a store to reduce your overheads while maintaining profitability.

Chart how your properties sit in relation to your distribution network and tweak your logistics strategy to ensure you’re servicing the building in the most cost-effective way.

Strategy is key to running a healthy, dynamic and – most importantly – growing company. Use location intelligence software to make sense of your metrics and come up with actionable insights that can take your business further.

Discover how location intelligence can hone your business strategy with Periscope®.