The term “Geomarketing” refers to the tool that uses geographical or location based information based on spatial data that helps companies aggregate marketing strategies and campaigns by analyzing markets and visualizing company data on a smaller scale. Geomarketing supports the planning, implementation and reporting of market activities by using digital mapping to organize and display data enabling marketers to analyze data by region or a particular physical location. The basis of Geomarketing can be summed up as external and internal data with a spatial reference. The data is then used and analyzed with the help of digital maps backed up by GIS.
PROBLEM AREAS
While location based marketing opens up a pool of opportunities, it does come with it’s own share of challenges.
A large proportion of users are hesitant to share their location while using mobile apps when faced with constant requests from different apps, websites and social media platforms as they cite privacy to be the main concern so as to not allow websites to share their personal data with other services.
For location based marketing to be effective, it is essential for the data to be accurate. Inaccuracies may lead to unreliable and outdated data, wrong interpretation of data and or high urban density.
Furthermore, developing a long term strategy for channel integration becomes difficult. Understanding consumer behavior is one of the key steps that drives location based marketing as it helps to navigate through their areas of interest and hence implement the services to be provided. Meaningful data analysis also becomes quite a challenge when it comes to marketing, without which it becomes a task to cater to a larger audience or a larger traffic in urban areas.
WHY GEOMARKETING
It is important to bear in mind that in today’s world, tens of thousands of users have access to internet at any given place on the planet. Geomarketing helps to locate the clients who are in need to meet a certain demand that has not been addressed or show interest in any particular service provided by a company.
Geomarketing also obtains behavioral patterns of users to derive where the traffic is located, it even provides information of competitors and helps companies boost more efficiency from the point of sale. It also helps us locate the areas with precision where most number of clients or potential clients can be found with coordinates and information of markets and target groups that establishes a batter two way communication between the company and the client by building trust and making the client feel more valued to now being able to derive first hand information directly from the client.
The geographical location of the target public offers advantages to the companies in any sector, in any location, the results of which may seem to be short term, but the benefits shall be reaped in medium and long terms. This is because Geomarketing helps in accessing large volume of relevant information with ease using very few resources which is beneficial for companies.
SOLUTIONS OFFERED
The benefit provided by Geomarketing software is to allow one to conduct comprehensive market and spatial data analysis wherein the strength of this technology lies. The spatial analysis of different data helps in decision making process like accessing potential locations, find alternative locations and plan regional marketing and sales activities. The spatial analysis methods and models can also be individually adapted by a company making it all the more flexible to perform a wide variety of services.
It helps answering questions like :
· In which areas are my products often searched?
· Who are my most consistent users?
· Which type of customers are my buyers online?
· For which stores do customers check availability online?
· How many online buyers do I have in areas with high density of online affinity?
The development of technologies and digital solutions operating with geospatial information such as GIS have increased the potential for companies to obtain and profit from these tools to develop an effectiveness through Geo marketing.
Geomarketing is a tremendous tool to facilitate marketing and sales process in the current scenario. Heliware provides the background for huge data analysis in 3D format and visualize the data on maps which is the most essential factor for a Geomarketing software.
