Locations and territories play a crucial role in the success of your business. Geomarketing links location and business data with information about regional markets, analyzes it and derives correlations. This way, geomarketing enables you to make the right decisions quickly.
Whether you need to select the optimal site, adjust your product range, or tailor your marketing activities to your target audiences, Targomo provides you with the right tool to leverage the full potential of geomarketing.
A large part of your business data has a spatial component, also known as georeferenced data. Geomarketing links this georeferenced business data to information about locations and regional markets, analyzes it and derives correlations.
Typically, a GIS platform or GIS software performs the geo-analyses (GIS = geographic information system). GIS systems visualize data and analytics results on maps and present them in a way that is easy to understand.
Location intelligence platforms are a further evolution of GIS systems. With the help of machine learning and artificial intelligence, they enable on-the-spot analyses and complement classic analyses of historical data with future-oriented forecasts and optimization potential.
The key to modern geomarketing systems is the ease of use. Bygone are the days when you had to depend on an in-house GIS expert or external consultant to make geospatial analyses. Modern geomarketing tools have a low entry threshold and are easy and quick to learn without prior knowledge.
Another quality feature is analytical functionality. Good geomarketing software offers more than data visualization on maps. Can you calculate accessibility and catchment areas individually for your target groups? Can you analyze the influence of competitors and identify cannibalization? High-quality geomarketing systems can answer these and other questions for you.
Geomarketing refers to the planning, coordination and control of customer-oriented market activities using geographic information systems. GIS thus refers to the technology or the tool behind it, while geomarketing means the discipline to which the technology is applied.
In English, the term geomarketing is less popular and gives way to the term Business GIS.
Today, the term “classic geomarketing” often gives way to “location intelligence. So where is the difference? Geomarketing and location intelligence have many things in common and are often even used synonymously today. For example, location intelligence technologies can usually answer the questions that were reserved for geomarketing.
However, location intelligence adds crucial components to the discipline of geomarketing. In particular, artificial intelligence and machine learning alghoritms contribute to further development. Thus, in today’s understanding, location intelligence contributes to business intelligence (BI), while geomarketing focuses on optimizing the marketing mix and sales issues.
Whitepaper Gravitational Model: Which new store location will attract the most customers?
Data-based technology to assess the attractiveness of new locations, and successfully expand operations
