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December 16, 2008

Geo-Marketing

Heard this 'new' term - lovely. Marketing plays many roles, but one, traditionally, is the goal to identify a list of targets, of opportunities, of leads... What about location? Targeting a location means you have found your psycho-demographic characteristic... and now you know where they are.

Geo-Marketing makes you more competitive.

IF there is a physical cluster - a group of neighborhoods, part of a city, perhaps even a region - where your product is or should be doing well, use this information to amplify your marketing campaign. Performance can be measured - testing areas for responses to various media.

With location intelligence you can take the location of existing customers and build a psycho-demographic profile... then FIND all the areas that fit. Next, you can select the zipcodes with concentrations of your profile presence - and you can then mass mail or target mail a list of people inside a small area (create a buzz).

Whether it be traditional media or something '2.0' - utilizing the signal that is location (starts with address...) means you know more and can manage better your target list...

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Posted by John D. Corbett at 2:45 PM | Comments (0)

August 10, 2008

Quantified support - geographical context

Geography matters - location matters. What you sell and how you are doing is intimately related to the demographics surrounding the store and the characteristics of your product. If this is on the money then...

The human observer does not have the capacity to comprehend the multitude of variables that constitute a market. Even if your business has only 10 or 20 stores - and you visit each monthly - how well do you really understand the pulse of each location? Quantifiable information in support of your observations are the key. Thus location becomes the anchor connecting your point-of-sale data while establishing links to Neilson Market data, census, survey, even your coupon mailing...

The point being that observing a place regularly can in fact provide a false sense of understanding that place. The world is constantly changing - economics of neighborhoods and cities evolve - children grow older... Assuming you have an understanding of a place is a risk. Comically, the memory plays tricks about location... Remember when you were young? The snow was deeper.... Change. You. You are taller now - it isn't that the snow was deeper. Demographics change and so does your market.

Quantifiable support to desicions based on location enabled integration of key data - not only will you see your performance more clearly you will understand the explanation and can thus plan and anticipate the next opportunity more accurately.

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Posted by John D. Corbett at 8:45 AM | Comments (4)

July 31, 2008

So many way location helps

I found myself in a casual conversation with a senior executive of a long-established metals and forge company. Ever curious, our 'what do you do' conversation turned into a vibrant conversation around how to stimulate growth in such a traditional business.

Simply put, his 'customers' were involved in long chains of value add - from the end product back through multiple sub-contracted specialty machine-shops. Over the years this executive had accumulated more than 120,000 names and companies... But had no real way understand who worked where and with whom - the geographic context of this 'social network' solves a major part of this. Simply mapping these 120,000 - and seeing the 'customers of the customers' in their location context.

These machine-shops were, in effect, very much part of his customer relationship though in the absence of geography the connections were not obvious.

Location matters - directly or indirectly.

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Posted by John D. Corbett at 3:00 PM | Comments (3)