All business owners eventually want to expand into new territories, however just how do you go about identifying the best markets and strategies? The easiest way to do this is through a mapping software, such as GeoMetrx. With this software you may combine a variety of demographic and geographic data, as well as your sales data for an in-depth look into new areas. Combining multiple data points allows you to better assess which areas are most promising, and stay ahead of the competition as you push your business on to newer and greater heights.
Any business plan relies on detailed information to plan out expansion. However, gathering all this information can be extremely time-consuming and will distract you from the day-to-day running of your business. Mapping software, on the other hand, will take care of everything for you, and can produce three different types of business maps that will help you no matter your industry niche.
The first, and most immediately important, type of map is a customer map. Customers are vital to your business’s success and survival, so naturally you should acquire as much information about them as you can to better cater to their needs, as well as identify areas with untapped potential. Without proper mapping, you are letting potential customers get snatched up by your competitors. Incorporating mapping into your business decision-making can tell where your customers do (and don’t) live, assess where your competitors are doing better than you, and come up with a strategy to expand your customer base. This type of mapping is especially important if you run a business where you visit customers regularly. Route planning using mapping software provide maximum profitability.
The second type of mapping will assess your competitors. By using publicly-available information, mapping software can show why customers might prefer a competitor over you. This information allows you to visually see how to alter your service to be more effective. By looking at competitor’s location, proximity, inventory, and more, mapping software will help you to trump anyone standing between you and success.
The final type of map is demographic and marketing maps, which are essential for planning out a successful marketing strategy to move on all those new leads you have discovered with the previous two map types. Through color-coded zip code categorization, which will show you the best and worst performing areas at a glance, you can then tailor your sales approach accordingly.
For more information on mapping software and how it can help you, contact Geometrx at 888-848-4436.