Helping clients choose between commercial properties can be costly and time-consuming, without the right resources in place.
Location intelligence is key to generating the detailed insights clients need to confidently choose one location or commercial property over another.
Here, we’ll introduce you to three advantages location intelligence software has over traditional property agent techniques.
Use location intelligence to choose between commercial properties
These are just some of the reasons you should be using location intelligence to help clients choose between commercial properties:
1) Intuitive data visualisation
Data only becomes valuable when it’s accurately interpreted and presented in a way your clients can understand. However, turning raw datasets into intuitive visualisations can be a real drain on your time.
Location intelligence software will do the calculations for you. With Periscope®, you can then conveniently overlay your insights on your very own secure, corporate version of Google Maps.
Start by plotting all your client’s locations, and their competitors’. Then, use data visualisation techniques to paint a more vivid picture.
Here are some of the most popular visualisation methods:
· Heatmaps: Visualise footfall within a defined area and volume of customers who live locally (segmented by customer type).
· Location catchment areas: Ensure all areas are evenly represented, to optimise client resource usage and increase profitability.
· Travel times: Automatically plot estimated customer and staff travel times (walking, driving or using public transport), taking account of local geographical factors.
2) Additional comparative metrics
Periscope® comes pre-loaded with local census, transport and other key data.
You can conveniently combine this with data from your client, including:
· Sales data
· Customer personas
· Marketing campaign data
· Property management data
· Competitor location and sales data
With Periscope®, you can even conduct social media sentiment analysis. This will tell you how a product, service or brand is perceived within an area based on real-time social media posts.
You can then combine this data and explain to clients how well a new branch might be received (and, how profitable it could be) within a defined locality.
3) In-depth location insights
Location intelligence helps you develop more detailed insights to aid your client’s decision-making process. With so many calculable metrics, you can help them find out just about anything they want to know, including whether:
· A specific area offers high growth potential
· Having specific brands or amenities nearby is likely to increase profitability
· Customers may need incentivising to travel to your branch over a competitor’s
· The area has a high volume of people who match customer personas but haven’t yet made a purchase
· Customers are most likely to stop by on their commute, or make a dedicated journey
· Car parking capacity will be required, and what volume might be needed
· A certain type of marketing campaign might be more effective than another
Periscope® goes even further:
· Use the ‘Revenue Predictor’ function to automatically estimate branch profitability
· Deploy the ‘White Space’ tool to highlight areas not yet covered by your client
· Try the ‘Match-It’ function to automatically generate additional property options that match your clients’ requirements
Only with this level of understanding and automation can you give your clients everything they need to make the right decision every time.
Discover the full potential of Periscope® and how you can use it to effectively choose between commercial properties. Request a 10-minute demo today.