Understanding the distance between your customers and your products and services is critical to assisting them on their journey and reaching them most efficiently. The use of big geolocation data, which is the latitude and longitude points for every location on the planet, in conjunction with a real-time address and post-code validation solution, is a good place to start addressing some of these issues.
You can get the information you need by going beyond a specific street address and adding geolocation data when a customer gives you their address on your website or at the point of sale.
Even though there are many ways to use big geolocation data, businesses have benefited from better planning, better customer base analysis and segmentation for more targeted campaigns, better risk management, process automation, and other benefits.
Customer Segmentation and Targeting
When defining a target market using a data-driven strategy, marketing teams are frequently reliant on customer data obtained from direct customer interactions across multiple touch points. While beneficial, it can only get you so far. Marketers can conduct regional analysis and target relative to a physical location with precise location information for customers and prospects. Excluding ineligible consumers based outside the target area enables personalized messaging and region-specific offers for higher conversion rates and lower marketing spending.
Business strategy
Through understanding the suitability of an area in terms of proximity to existing customers or competitors, location-based market segmentation plays a crucial role in predicting the likely sales growth of a physical store or branch. Determining the distance between existing stores and customers can also help to determine future opportunities for store expansion or closures, as well as demand for "Click and Collect" services.
Fulfillment of orders
Having an address isn't always enough to reach out to customers. Logistics companies use extra attributes associated with an address to maximize delivery success by planning better delivery routes that increase delivery driver productivity while lowering costs. They can also cut down on fraud by making sure deliveries are made within the tracking radius of the property.
Risk evaluations
Before issuing insurance policies, insurers must conduct thorough risk assessments on properties. Big geolocation data, in particular, can be used to calculate a property's proximity to a specific location and assess the risk. A few meters can mean the difference between a profitable and costly policy, so being able to precisely pinpoint every physical point and address in the world allows insurers to make more informed decisions.
Eligibility for service
Many businesses allocate sales and services based on regions and territories. By linking geolocation to valid postal addresses, businesses can find new customers more accurately and make sure that all of their current customers are covered in all areas.
How can AirSage help you?
AirSage is committed to offering the most innovative big location data solutions on the market and is proud to have the most advanced capabilities in the industry. We harness the power of billions of GPS signals. We retrieve geospatial insights from raw data using a patented big data approach. To know more about how we help you grow your company using big geolocation data, contact us.
