What is geomarketing?
Where is the application area of geomarketing?
Geomarketing is a marketing discipline dedicated to the spatial (geographical) aspects. Geomarketing reflects the spatial dimension of the market, allowing a regionally differentiated view of the market. Geomarketing supplements the areas of the classic marketing mix (product, price, distribution, and communication) in each case with the spatial view.
In other words, geo-marketing uses spatial information to contact the right target groups without wastage directly. People who stay, live, or regularly move to certain places will likely have specific interests or preferences.
Living space costs, rent, etc., are often constant within a neighborhood or a street. The living environment and infrastructure remain the same, attracting people with similar interests, living conditions, and consumer behavior. The degree of individualization in society is high, but even if the most diverse interests can be lived out thanks to global networking, the principle of neighborhoods will not be able to adapt so quickly.
The secret to successful geo-marketing lies in identifying people's interests in the areas and linking them to purchasing behavior. If you want to go even further, you can distinguish residents from passers-by thanks to mobility data from WHATALOCATION which significantly reduces wastage. These applications are not freely available and are painstakingly compiled and reconciled from various data sources in compliance with data protection to answer essential questions.
For example, purchasing power data and assortment purchasing power data are combined with pedestrian movement data to distinguish between residents and pedestrians (e.g., commuters or tourists) on the one hand and to break down exact demographic differences on the other. These analyses always refer to a clearly defined area that is not too large so that different locations remain comparable.
Based on this logic, users of our software could, for example, recognize that the average age of passers-by differs significantly from that of residents and that passers-by come from a completely different city region. Thus, exhibit completely different purchasing behavior than residents. This insight could be directly applied in marketing by regionally adapting the content of direct mailings in the corresponding catchment area.
Geomarketing is versatile, and integrating mobility data offers a new approach to responding to essential use cases for marketing managers. Advertising budgets can be optimized, the development of customer potential over a long period of time can be analyzed, or out-of-home advertising can be played out in a very targeted manner. The WHATALOCATION team will gladly advise you free of charge. Book your slot directly here.
