The Benefits of Location Insights
Location data plays a vital role in understanding and analysing consumer behaviour, market trends, and business operations. With location intelligence tools, businesses can leverage location data to make informed decisions that can help them gain a competitive advantage over their competition.
In this blog post, we will explore the benefits of location insights and how it shapes business outcomes:
- A better understanding of the target market
Location intelligence allows businesses to gain a better understanding of their target market by analysing demographic, geographic, and psychographic data. Armed with this information, businesses can tailor their marketing campaigns to specific regions, age groups, affluence levels or even the online and offline interests of their target audience, yielding more personalised advertising, higher effectiveness, and ROI.
A leading Indonesian commercial bank sought out ADA to evaluate a few strategic locations to determine the presence and distribution of Syariah banking competitors. With the information garnered from ADA’s Location Planner and target profiling, the bank was able to gain better insight into its target audience, uncover underserved hotspots, and identify strategic locations to expand on their Syariah branches. More to it, ADA’s Location Planner insights were integrated into the core of the client team’s 5-year branch transformation blueprint.
- Improved operational efficiency
Location data can also be used to improve operational efficiency. By analysing location data, businesses can identify areas that exhibit a high demand for their products or services. Such intelligence enables businesses to optimise their supply chain management in order to effectively meet the market demand.
For example, a leading taxi service provider in Indonesia engaged with ADA for route optimisation by ensuring that their fleet is available at the right hotspots at the right time to capture their target audience away from their competition.
- Competitive advantage
The strategic use of location intelligence can give businesses a competitive advantage by providing them with an in-depth view of consumer behaviour and market trends while also allowing them to monitor their own and competitors’ performance. By analysing location data, businesses can identify gaps in the market, consumer preferences, and previously undiscovered business opportunities. This can help businesses adapt quickly to changes in the market and thrive in the evolving business landscape.
An oil & gas company in Malaysia worked with ADA to track the footfall of its customers and competitors’ customers. By understanding the switchers between petrol brands, we narrowed down the persona of these switchers and worked with our client to launch targeted marketing campaigns. Our client managed to regain most of its lapsed customers, and they remain loyal for months to come.
- Improved customer experience
Location intelligence can also be harnessed to improve customer experience. By analysing location data, businesses can identify areas of high footfall traffic, optimise store layouts, and personalise customer’s shopping experiences. For example, a store can use location data to send personalised offers to customers as they walk through the store, increasing the chances of making a sale.
ADA’s Location Planner in a snapshot
ADA’s location planner provides you with a visual interactive map to provide the answer to these questions and guide your business to geographical efficiency.
- Discover underserviced ‘hot’ locations
Build business presence in neglected areas with high target audience density.
- Identify relocation opportunities
Turn underperforming stores into top contenders by relocating stores to locations with high audience concentration.
- Optimise event marketing campaigns
Plan event campaigns around specific customer profiles, taking into consideration their behaviours and preferences.
- Amplify out-of-home (OOH) advertising reach
Identify OOH opportunities and optimise OOH placements to increase brand awareness to the right audience.
- Gain competitive knowledge
Identify competitors and gain knowledge that will allow you to form strategies to better compete.
- Partnerships leverage
Enable market penetration through geo-strategic distribution partners frequented by your target customers.
Get the most out of location insights
Clive Humby’s quote, ‘Data is the new oil’ is undoubtedly thought-provoking. Location Intelligence has become an indispensable asset for businesses to gain a better understanding of their target market, improve operational efficiency, augment decision-making abilities, and improve customer experience. As the importance of location data continues to grow, businesses that fail to take advantage of it are currently at risk of lagging behind their competition.
Keen to learn how location insights can benefit your business? Drop us a message and speak to our rep today!