Drive Revenue Growth with Market Coverage Analysis

The Overview

Introduction

As a Senior Business Development Manager for a large national retail outlet, you need to be focused on growth in revenue and market share. You need to be thinking about how to efficiently grow your addressable market in both the short and the long term. To grow your business and capture more of your addressable market, you need to target the right locations for new stores. For example, if you have no presence in California and you then set up a new outlet, you now have a larger addressable market. You need to analyze the performance of your current stores and the demographics of your most valuable customers so that you can try to replicate this in new locations.

SOLUTIONS

Visualize Current Market Performance : Get a quick snapshot of current market performance on a regional heat map.

Single View of Your Current Market Coverage : Mapping your business data gives you a holistic view your entire market including customers, competitors, and existing locations.

Identify New Target Locations : Overlaying existing partnership locations with all of the partner’s store locations, allows you to identify and prioritize which locations to target next.

Pin Map : A basic pin map quickly becomes a powerful analysis tool when multiple datasets are layered on a basemap and each dataset is styled to assist with the quick understanding of the data at hand.

Size By Value : Enhance a basic pin map with size by value styling to identifying high-value prospects easier.

Colour By Value : Color by Value allows you to assign certain values a particular color. This is particularly useful when there is lots of data on a map and you want the viewer to see more than just the location of the pin.

Regional Heat Maps : Regional Heat Maps are a great way to get an overview of your market. You can quickly identify any gaps in coverage as well as the high and low performing regions.

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RESULTS

Using mapping to visualize your retail locations, customer locations, and competitor locations allows you to get a single view of your market coverage. You can identify patterns and trends that would otherwise be lost in a spreadsheet.

Color coding your retail locations based on different values such as annual revenue or the total number of sales allows you to highlight high and low performing stores for further analysis.