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What is Geomarketing?
Geomarketing gives your company answers to regional questions. Spatial data is the key. Geomarketing allows you to analyze your markets and visualize your company data on a small scale.
The basis of geomarketing is internal and external data that have a spatial reference. This data is used and analyzed on digital maps with the help of a Geographic Information System.
This is how geomarketing supports the planning, implementation and reporting of market activities. The primary areas of application for geomarketing systems are expansion, sales, marketing and reporting.
Why Geomarketing - 4 Reasons are Obvious.
- 80 % of all company data has a spatial reference.
- What are the three success-relevant location factors? Location, location and location!
- Birds of a feather flock together.
- A map says more than 1,000 words.
6 Benefits of Geomarketing or Why Geomarketing Works?
1. Spatial Analysis
Numerous business decisions raise spatial questions. Geomarketing software allows you to conduct comprehensive market and data analysis. The spatial information enables you to recognize relationships.
2. Objective Decisions
The strength of geomarketing software lies in the spatial analysis of different data. The results of a geomarketing analysis help with the rationalization and objectification of decision-making processes.
3. Generate Added Value for Your Data
Enrich your company data with coordinates and information on markets and target groups. The value and potential uses of your data increases.
4. Identify Relationships More Easily
Generate new information by editing existing geodata and company data.
5. Individual Benefit
The analysis methods and models used can be individually adapted to the company. The great flexibility of geomarketing software allows your application to perform a wide variety of services.
6. Supporting Company Processes
Geomarketing can be used in the different phases of the decision-making process, for example, location management:
- Assess potential locations
- Analyze store locations
- Find possible alternatives for branch locations
- Plan regional marketing and sales activities
Geomarketing Trends: Expert Opinions
More and more diverse data as well as web technologies are the current trends in Geomarketing. So are the assessments of the Geomarketing experts A. Prof. Dr. Petra Staufer-Steinnocher of the Vienna University of Economics and Business, Michael Fux of ProfileAddress Direct Marketing and Wolf Graf of WIGeoGIS. Watch the interview (english subtitles available).
What do I use geomarketing for?
Location Analysis and Expansion
With the right geomarketing software you can assess the potential of a location and its environment based on your individual location factors. The results help you to quickly assess real estate offers and the quality of their location.
Geomarketing uses scoring models to allow you to compare locations objectively. The relevant location factors are standardized and a score is created for each location. This allows you to evaluate the profitability and future viability of the branch locations.
Geomarketing analyses help companies to achieve the best possible branch network with optimal customer-store allocation. The goal is to plan a nationwide network that enables customers to shop without having to travel long distances. Location-allocation models help achieve this.
Gravity analysis makes location-specific sales forecasts possible based on individual location and attractiveness factors. In this way, geomarketing helps you with your location analysis.
Analyze Markets and Customers
Geomarketing analysis with industry-specific market potential data allows you to identify strengths and weaknesses of branch locations and sales territories at a glance.
|Geomarketing identifies areas where you can find your relevant target groups. GIS software visualizes and evaluates the areas on a map.|
Visualize Customers and Revenues
You will receive answers to the following questions:
The spatial analysis of the competition is an essential part of any market analysis. Competition analyses help to correctly assess your own sales potential and successfully manage regional sales activities.
Plan and Control Sales
Companies use geomarketing to plan or change their sales territories in the shortest possible time. The criteria for territory planning can include market potential, sales, number of customers and size or accessibility of the territories.
Geomarketing enables regional sales reporting based on KPIs. Customer, sales and territory data are combined in your geomarketing software and visualized on maps.
Geomarketing helps to spatially identify your target audience based on their characteristics. Then you can choose the media that will offer you advertising with low scatter losses at an optimal cost in the right areas.
Conduct your regional marketing only in the actual catchment area of your branch or retail locations. Geomarketing tells you exactly where it is.
If your shop is stationary and online, then your marketing will also be cross-media. Geomarketing helps to spatially identify the market potential of the various sales channels and control it with a cross-media approach.
What Do You Need to Successfully Use Geomarketing?
3 factors are crucial to the acceptance and success of geomarketing analyses.
Factor 1: Current, high quality data
Only with current, correct data, the so-called market data, will you receive useful analyses. Market data consists of hundreds of characteristics on different spatial levels and describes markets, target groups, interests and customers.
Factor 2: The Right Tool
In addition to data, you need the right software to create a geomarketing analysis. The software allows you to easily create maps and visualize your data, edit spreadsheets and generate reports on your analyses.
Factor 3: Know-How
WIGeoGIS offers customized geomarketing consultation and training. You will learn geomarketing methods, the correct use of market data and the efficient operation of geomarketing software.
“We understand geomarketing, we do geomarketing and geomarketing is our business. Good reasons to ask us.”
Chief Marketing Officer
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Regional market analysis makes it possible to:
- Recognize spatial relationships
- Understand regional characteristics
- Confidently make fact-based decisions
- Communicate results transparently and clearly
WIGeoGIS supports you with many years of experience, digital maps, market data and the right geomarketing software.
Target Group Analysis
Target group analysis makes regional market potentials visible and helps to efficiently reach the desired potential with the right mix of advertising, products and prices.
Targeted customer orientation helps retain existing customers and acquire new customers.
- Your customer data is enhanced with information on the living and business environment.
- Recurring characteristics describe the target group.
- Geomarketing tells you where to find your target groups.
Target Group Characteristics
- Age, gender, living environment, income, lifestyle, product affinities and media and purchasing behavior are some of the classic characteristics.
- Customer structure analysis helps determine characteristics and their spatial distribution when you do not have sufficient information on the socio-demographic profile of your target market.
Knowing Your Target Group Allows You To:
- Manage sales and marketing efficiently
- Enhance customer segments in CRM with relevant target group characteristics
- Minimize wastage
- Optimize your regional category management
- Create optimal location and sales structures
Correctly Assess the Competition and Their Activities
Analysis of the competition is an essential part of any systematic market observation and helps you correctly assess your own position. Broad knowledge of your competitor’s market activity provides you with a comprehensive picture of reality and enables you to make substantiated statements to:
- Assess achievable sales potential
- Gain information on the radius of the sales activities of your competitors and assess their effectiveness
- Critically analyze and assess your own regional sales activities
- Gain facts to support decisions on restructuring and expansion
Geomarketing is perfectly suited for target-performance comparisons, SWOT analyses and reliable target and budget planning.
Regional Market Potential Analysis
Successfully managing marketing and sales based on regional market potential is always complex.
The complexity increases with each additional sales channel, each additional target industry, each new market and with increasing internationalization.
Geomarketing analysis with industry-specific market potential data allows you to identify strengths and weaknesses of locations, areas and competitors at a glance.
Regional potential analysis helps you to objectively assess market volume, sales volume and sales potential and provides answers to critical business questions:
- How are my customers and sales distributed?
- What is my local market share?
- Where am I making a profit or a loss?
- Where are there opportunities for additional growth?
- Where do I need focused advertising activities?
- Where was the last advertising campaign successful?