BIG PICTURE

What Is the Best Place to Open A New Business?

No matter whether you are opening a new business or extending your current network of stores–a wrong decision on the new location can ruin the investment and damage your career. The importance of “Place” in the traditional marketing mix differs among industries and business models, but it still remains crucial to many of them.

That’s why CleverAnalytics combines multiple datasets and metrics and distills them into easy-to-understand reports for identifying the best location possible or selecting the winner from a number of acceptable locations.


CHALLENGES

The Complexity of Location Planning

The business expansion plan set up for proper location planning needs to combine different catchment models and socio-demographic, economic, and customer segmentation data from various sources. The number, complexity, and the need for weighting this data make the process overwhelming and trigger additional question to be answered.


1
What is the exposure and transport availability of a prospective location?
2
What is the total addressable market of a new location and how will it affect my current network?
3
What is the market potential of the given area for my segment of customers?
4
What is the estimated market share, based on my current data and competitive pressure, in the planned location?
5
What location will best complete my current network without unnecessary overlaps?
6
What is the priority for opening multiple locations for greenfield network design?
OUR APPROACH

ROI Hidden in Risk Avoidance

The ROI of location planning tools isn’t only based on empowering its users with real business data analysis for easy evaluation of all possible locations, but it is significantly lowering the risk of ruining the investment at its beginning by choosing the wrong location.

CleverAnalytics combines data from numerous sources, analyzes and visualizes it to support the decision process by turning a complex location-planning task into a single interactive map allowing you to:

  1. Display demographic and economic metrics for selected the location, including market potential and predicting the market share
  2. Determine the catchment area of the location by using different catchment models
  3. Identify the best locations with the highest traffic and exposure based on the type of your business
  4. See the estimated inner and outer competition in the area

CONCLUSION

Digitally Empowered Location-Planning Software

Location evaluation can be used for both scenarios, greenfield network design or “what if” analysis for proposed locations. Leveraging real life data for each location gives necessary insight and bulletproof arguments for negotiations with developers or land owners on the planned investment. CleverAnalytics empowers you with all the necessary metrics, easily accessible on a single, online available map that adds clarity and certainty to the selection process for a proposed location.

Even the greatest builders of history relied on location analysis. Digital transformation just made it easier for you to become a location analyst expert. Take the next step by starting a free trial or scheduling your personal 1-on-1 online demo.

Related to Location Planning

Efficient Flyer Distribution

Efficient Flyer Distribution

Opening a new location certainly calls for strong marketing support. Carpet bombing a neighborhood with leaflets is no longer a valid marketing strategy. Find out how to target your campaigns for a higher ROI.

LEARN MORE

Customer Intelligence

Customer Intelligence

When planning a new location, it’s key to ask not only where, but also who your prospects are. Start building your business strategies around customers by learning about them.

LEARN MORE