Our Location Analytics solution provides all the tools to analyze new areas, such as investigating opportunities for (international) expansion or expanding your marketing campaign to other regions.
If you're looking for a new business location or expanding your marketing efforts to new areas, a thorough location analysis is essential. There are several approaches to conducting a location analysis:
If you have identified your ideal customer profile using customer profiling, you can easily search for areas that fall within the same profile. These are known as lookalike audiences. Follow the steps below to find your lookalike audiences. For illustration, let's use the following use case:
Imagine you're a office supply company looking to expand to Canada. Using consumer profiling of your current customers, you've found that the most valuable customers, fit the following profile:
1. Based on this data, you can, similar to a location analysis, filter on these specific details. First, let's map the data for the Netherlands. Go to "Map Postal Codes".
2. First select the postal code boundaries, in this case, Canada - Dissemination Areas, you want to visualize and click NEXT STEP to confirm.
3. Now select SKIP THIS STEP, because we want to visualize the data of all areas of Canada.
4. Select the data on which to base the style of your dashboard. You can always change this at a later stage.
5. Name your dashboard and click CREATE DASHBOARD to start the process.
6. Once you have created your dashboard, you can utilize the integrated data to filter the relevant areas. Go to filters and click on +ADD FILTER and add a DATA FILTER. Select the datasets that comply with your consumer profile. In this instance:
7. Once you have set all the filters, click APPLY FILTERS to confirm. The dashboard will show you which areas fit your customer profile. The next step is to target these areas.
If you want to conduct a competitor analysis for several areas, you'll look at the concentration of competitors within an area. First, you need to map the locations of your competitors. Then, we can use filters and radius to examine the level of competition. Follow these steps:
1. Open your dashboard and go to APPS > POI APP. A menu will pop up. Here, you can set your search criteria.
2. Select how you want to search for POIs, either by location or radius.