In any business, true situational awareness requires not just knowing where your customers are, but where your competitors are, too. In fact, the two go hand in hand. To understand your customer base, you need to know how they interact with other businesses in the region — where they shop, what they want and how they get where they need to go.
Competitor territory mapping is a useful tool for strategic planning and market analysis. Regardless of what industry you're in, your business can benefit from an increased awareness of your competition and the customers they attract.
A competitor territory map is a visual representation of the location of your competitors. On its own, it can be a powerful tool for identifying your biggest threats and most lucrative opportunities. However, when overlaid with other information — such as your previous sales records or demographic data from the U.S. Census, it can yield insights that will be extremely useful in big-picture strategic planning.
For example, a competitor research map can show you the local demographics of the neighborhoods where your competition has a significant presence. From there, you can target your marketing specifically to appeal to these groups, eating into their customer base. Alternately, it can show you which types of customers are currently underserved in a region.
Mapping competitors is useful when creating sales territories, in that it helps you assign your strongest team members to areas where their expertise is needed most. It's also a powerful tool for site selection when expanding your business, as it shows you the areas with the most risk — and greatest potential for reward — when planning for a new location.
MapBusinessOnline contains multiple tools for competitor mapping and analysis. Some of the ways you can organize your data include:
These are just a few of the many competitor mapping features you'll find in MapBusinessOnline. Keep exploring this website to learn more and read detailed case studies. To try out MapBusinessOnline today, sign up for one of the many convenient subscription packages or download a risk-free 1-month trial.
"MapBusinessOnline Business Listings has been my go-to platform for the preliminary work necessary to develop growth strategies in the Restaurant Industry. I’ve found this platform to be intuitive, easy to navigate, and the data plentiful. Whether you are looking to expand using an adjacency strategy or make a large geographical leap, I’d suggest you start with MapBusinessOnline Business Listings."
Paul G. Tuennerman
Executive Vice-President
Sticky’s Holdings, LLC
This leading North American reseller of hardware and software supports millions of businesses worldwide. We get regular calls from SHI representatives who need to offer a MapPoint replacement or to simply provide business mapping software for a corporate or government account. SHI customers include users of annual subscriptions for the USA and Canada as well as collaborative Team Editing subscriptions for corporate accounts.
Software House International (SHI)
"MapBusinessOnline has made it easy for DriSteem to locate and compare Rep territories. Every single person in our office has a map from MapBusinessOnline at their desk and refers to it daily. We are thankful to be using MapBusinessOnline for developing our business and outside sales representative team!
Thank you MapBusinessOnline!"
Abby Rogers
Marketing Coordinator
DriSteem Corporation