How do I identify where I can out-market my competition?
Brands with brick and mortar stores often seek to understand which customers naturally visit, which go to competitors, and which are conflicted. Understanding where to invest (and not invest) your marketing dollars is key to increasing store traffic and sales.
What We Do
- We create a geographic model that accounts for the “mass” of given competitors – this is typically made up of factors including retail square footage and other considerations
- We account for the quality of your competitors and your brand based on factors including investment, position, and square feet
- Accounting for convenience factors (drive time, parking), we look at demographics within your regions (e.g. income, education, propensity to shop)
- Next, we simulate the natural customer flow and identify attractive pockets that are in regions where multiple competitors could draw from this pool
- Finally, we strategically identify how you should reinvest and in what
We Also Provide Answers to these Questions
- Where should I focus my competitive marketing efforts?
- What’s the impact of convenience (e.g. drive time, parking) on natural traffic flows?
- Am I getting my fair share of revenue in the region?
- Am I growing the market or stealing share?