By mapping customer locations, businesses can better decide where and how to focus marketing campaigns. In this link, Karen Blevins of the geography program at San Diego Mesa College states:
The ability to visualize multiple inputs, such as income, zoning, demographics and industry within a single map environment supports the marketing process.
I think we typically apply this process to brick and mortar style businesses. Different analysis techniques are used for strictly virtual businesses, but it is every bit as valuable with the right data backing the analysis. I admire those who are able to put these techniques into practice with the real world. I have been following a company called InfoGrow to see the many ways they apply location insight and have been impressed by their vision. They list services including:
- Proximity Analysis
- Sales Territory Optimization
- Lead Management & Market Analysis
- Trade Area Analysis
- Site Selection Services
The possibilities to “grow” only grow with location data added to the mix.