Do you plan an expansion? Here are 5 guidelines wherein Location Intelligence can help you
An expansion is a source for many questions: where to open the new point of sales? who will be interested in it? who lives nearby? what are their needs? Are there too many competitors in this area? what kind of environment is needed for the performance of my business? Even if the quoted questions seem broad and hard to solve, a simple solution by the name Location Intelligence, an interactive tool, enables you to have full answers by using some of its features.
Location Intelligence is comparable to location technology… with far more information about areas. Indeed, it finds out reliable information such as average age of the area's population, their disposable incomes, the points-of-interest nearby, etc. The special feature of Location Intelligence offers a wide range of available information. Additionally, you can filter categories which are related to your business line (eg. knowing the household average incomes can be useless to a B-to-B company).
The data from the Location Intelligence tool allows deriving a sales’ strategy for each place virtually browsed. For instance, knowing that an area has few convenience stores, a low disposable income, but a high population density and a high number of individuals per household, you can offer middle and low-end goods & services to each member of the family.
The information used by Geoblink is not only external but also internal, coming from your own businesses’ network. Thus, you have a thorough analysis of your businesses and its environment’s features. Thereby gaining an awareness of significant factors for your type of activity, you can find the best location.
An expansion is a source of considerable thought and analyses, especially to choose the right place – which is related to multiple variables. Location Intelligence enables you to compare areas to identify which location is more beneficial for your activity –the criteria for success become obvious. Thanks to the previous steps.
Screenshot of Geoblink Application in which you can compare until 3 areas and access lot of information per area.
The performance combines efficiency and relevancy. All the previous elements enable you to optimise your decision, decrease risks and adapt your strategy to the target environment. Therefore, as soon as you're opening, you know the type of customers in your environment and what they need in their everyday life.
This article relies on a part of Geoblink application features. Some of them do not exist in all Location Intelligence programs. If you want to know more about each step and how Geoblink can accompany you to a successful expansion, please contact us here.