There are many questions to resolve before looking for a location for our business and multiple factors that will affect its success. But undoubtedly, the basis for success is knowing where, how, and why.
If we have the answers, part of the success of our business is assured. However, how do we find them? So far it was enough with traditional methods or relying on the experience and knowledge of expansionists. But in recent years, the presence of more and more aggressive competitors besides with increasingly demanding consumers, and a demand for shortening time-to-market, forces us to look for Location Intelligence Solutions based on knowledge and advanced analytics, with the aim of optimising Expansion Plans, as these represent large investments for companies.
Where we should open
A Location Intelligence platform will allow us to locate where your target public is maximised and to know in detail the population, its socio-demographic and socio-economic profile, consumption needs and preferences, purchasing potential, area typology, etc., to know the location of our competitors, competitive pressure, flags or commercial formats, or Points of Interest of commercial attraction for our business.
How to analyse the viability of the Project
It is important to rely on a Location Intelligence platform with international coverage, to have a unique partner in order to gain consistency in our foreign operations, with specific and advanced marketing and expansion functionalities, with a Data Lake with a wide range of sectorial variables and indicators, and metrics of high predictive power, as well as with optimisation algorithms that allow us:
- Search for the best locations
- Calculate consumption potential
- Knowing the consumer profile and location
- Adapt the Point of Sale to the potential market
- Knowing the location of competition
- Locate Points of Interest of commercial attraction
- Reduce costs and time
Why we will be successful in this location
Because the use of data from a large Data Lake, and advanced analytics allows us to adapt our Points of Sale to the potential market and to know the impact of competitors on our sales, positioning us with a differential commercial proposal.
Therefore, a consolidated Location Intelligence platform will allow us to optimise Marketing and Expansion tasks and will give us the right answers to know the where, the how and the why.
Remember that the success of your business starts with Location Intelligence.