If you have a retail business, then you are aware that customers are the fundamental concern to ensuring business success. A retail business has to focus on prospecting for customers, acquiring them, and building long lasting relationships so that you have created a loyal customer base. However, acquiring new customers can be a time-consuming and expensive task. In addition, enhancing current customer relations through new and innovative product offerings and numerous channels is a constant challenge. Fortunately, retail businesses now have comprehensive location intelligence solutions to make managing customer acquisition much easier and more affordable.
When a retail businesses leverages location intelligence solutions to enhance value to existing customers and acquire new customers, they will be able address and overcome such challenges as: driving incremental revenue growth while reducing costs, define precisely what their ideal customer profile is, including considering shifting demographics, identify where to invest in customer acquisition and product marketing campaigns to achieve the best return on their investment, find ways to reduce collateral media costs while enhancing marketing campaign efficiency and effectiveness, and leverage customer intelligence to drive product development, improvement, and positioning.
For the retail industry, comprehensive location software solutions provide many benefits that include a suite of applications that distinctly identify, validate and maintain a universe of location-based data. In addition, leveraging the relevant, rich, relevant reliable data that will allow businesses to benefit from understanding their customers from a neighborhood level perspective to enhance market share, the ability to model brands and marketing messages based on comprehensive demographics, optimized store performance through identification of new sites, where renovations need to take place and closures, and cleaning up and maintaining customer loyalty program address information.
Most business analysts are predicting that business intelligence solutions, particularly location based intelligence solutions, will play a major role in attracting and maintaining customers. More businesses are realizing the advantages of spatial data analysis in making more intelligent business decisions. Utilizing location intelligence software solutions provides such benefits as: understanding a business' existing customers better, identifying the location of their targeted customers, and reaching their targeted customers. Because of changing customer demands, locations, and lifestyles that now includes location intelligence is expected to focus on leveraging data from a wide variety of sources to better improve prospecting for customers, acquiring them, and building long lasting relationships so a loyal customer base is created and maintained.
Today retail business owners are bringing departments together to assess data and information in a manner tat results in decisions and direction that best serves the company. The ability for retailers to define and track business strategies through the integration of business intelligence systems is resulting in more efficient use of capital which has considerable influence on the business bottom line performance. In addition, changing customer demands have created a more challenging landscape where retailers must struggle to satisfy their existing customers and attract new customers. If your retail business objective is to reduce costs, drive incremental revenue, acquire new customers, maintain existing customers, and improve your company competitive position then innovative location intelligence solutions for retail may be the solution for your retail business.
A geocoding and address verification software can be tailored to the demands of large organizations. Geocoder combines modern technology with geographic coordinates systems to deliver solutions to business obstacles providing location intelligence, postal code map suite and data management.
Source: http://protorit.blogspot.com/2011/09/innovative-location-intelligence.html
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