Every month, we will be taking a look at some of the top ways that our customers are using mapping to improve business process, increase efficiency and grow their sales. This month we are looking at retail organizations.
With the growth in the online retail market over the past decade, many retailers have shifted their focus to implementing or improving their online sales platforms. This has left the offline retail market to struggle as the less efficient and low tech side of the business, but it doesn’t have to be that way. Some of the multi-location retailers that use our cloud mapping software have found ways to increase efficiency, identify gaps and over supply of retail locations, as well as improve the logistical side of supply chain management. Let’s take a look at some of the challenges these retailers face.
It is a key responsibility of the sales operations team to know their market inside and out and to be able to forecast sales, plan territories and identify new business opportunities. To do this, they need to:
Plot retail locations on a map
Multi-location retail organizations often find it difficult to visualize where all their stores are on an individual basis in addition to where they are in relation to other stores in the vicinity, providing a holistic view of market coverage.
Optimize field visits
Area managers need to conduct field visits to ensure consistency across all stores and these visits can drain time and financial resources.
Understand the demographic impact on sales in various locations
The demographics of an area play a huge part in the success or failure of a particular store location. Understanding the demographics is important across sales and marketing for stores.
Implement a personalized marketing approach
The key to retail success in 2016 is the personal touch especially where marketing is concerned. Arming sales and marketing departments with the tools to easily access and interpret data which allows marketing teams to identify various segments of customers based on location, demographics and preferences is a challenge in a world where there is almost too much data to know where to start.
After identifying the challenges above and getting the retail organization up and running on the website, our customer success team take over and onboard our customers with tailored training. In this case the training covered data visualization, heat mapping and route optimization. This training allowed the users to be able to analyse their market, map travel routes for area managers and identify stores that are performing above or below average. We also provided the retail organization with demographic data to help them to understand its impact on the retail locations. One of the key financial and time savers was the route optimization allowing their area managers to take the most efficient field visits possible.
- All retail location data in one place allowing for operations to instantly see store locations in relation to customers.
- Easy to understand mapping system to allow analysts to draw insight and conclusions on retail locations performance.
- Optimized route planning for field visits saving fuel costs and time for field sales teams.
- Detailed demographic information for all retail locations allowing for hyper-local and personalised marketing campaigns.
- Up and running with 20+ maps created within 2 weeks of training allowing new members of staff without a data analytics background to quickly get up to speed.