Site selection starts with knowing your customers. In defining customer profiles, demographic data is table stakes. The profiles become dramatically more informative and helpful when you layer in psychographics and lifestyle and shopping behaviors. Mobile data is a powerful means to achieving this desirable end.
Using mobile data, you can not only determine whether your customers are traveling on foot or by car, but also uncover important insights into your customers: where they come from before entering your store and where they go afterward, where they live and work, businesses they frequent, psychographics broken down by time of day and day of the week, and other shopping behaviors.
How Your Customers Travel
Mobile customer analytics start with GPS data, which gives every device an ID number to track exact locations by latitude, longitude, and time. A device’s GPS data provides a trail of where the device (the person) travels in a 24-hour period. The device’s movements and the time between movements can be analyzed to determine speed, which tells you whether the person is traveling on foot or by car.
Where Your Customers Travel
Foot and vehicle traffic can be analyzed in day parts, or specified time windows in a day (e.g., morning, typical lunch hours, between 4 p.m. and 8 p.m.). Unlike a zip code of where your prospective customers live, a day part analysis injects lifestyle and shopping behavior insights into your customer profiles. For some brands, customer profiles can shift significantly during different day parts.
Day part analyses produce richer, more targeted customer profiles, which, in turn, assist in better-informed site selection decisions. For example, if you’re a restaurant concept that thrives during lunchtime traffic between 11am and 2pm, you can target specific locations where you’ll be most likely to reach these lunchtime consumers.
Ideally, you want a location that will see steady traffic volume and correct traffic flow direction during your store’s business hours.
Who Your Customers Are
To further enhance your customer profiles, each mobile device can be associated with a specific customer segment, starting with identifying the device’s home location. The home location gives you the ability to define customer psychographics based on neighborhood and lifestyle characteristics.
For example, see how psychographics and mobile data are used to develop customer profiles in Analyzing Equinox Fitness Customers in Austin, Texas.
Leverage Foot and Vehicle Traffic Data for Your Brand
Locate’s site selection platform collects data from over 180 million anonymous mobile devices, representing roughly 1/6 of the U.S. population. We assume that each person has three mobile devices, which makes our estimates extra rigorous and conservative.
We are the only tech-enabled brokerage leveraging mobile data to accurately identify locations best suited for your store’s business hours.
All of our mobile data and customer analytics enable us to help you build informed and multi-layered customer profiles for your brand. Armed with these profiles, your site selection process is marked for success.