Location analytics is now at the stage where its revenue-generating potential is being understood.
By implementing location analytics solutions into integrated marketing communications and strategies, companies can gain a complete picture of their respective markets. Information gathered typically includes footfall, the amount of business activity in a particular area and the availability of public transport.
Crunching all this data so that trends and patterns emerge has become essential to customer retention. At the same time it is also possible to predict changes in consumer behaviour and expectations. Companies can forecast how they will grow in the years ahead, identifying where revenue is most likely to come from. It’s also an effective tool in conducting competitor analysis and for chain management, so firms become more competitive.
It’s clear that with location planning and the technology that enables it, firms can more effectively streamline their marketing campaigns and achieve greater levels of success. Knowing where customers live or work is essential to targeting and attracting them as well as helping understand where new customers can be found.