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.
This leading national footwear brand manufacturer uses MapBusinessOnline to conduct retail coverage assessments nationwide. They loved MBO’s ability to provide both street level detail and USA wide high level views of points-of-sale. Importing location enabled address databases for symbolization and color shading is easy. New and planned stores can be added to the map market analysis as products are launched and mature.
"Importing location enabled address databases for symbolization and color shading is easy."
Todd Eichelberger
Sales Director
Adidas
"This software is a game changer for me in the workplace. Easy to use tools and a fast system to do the job efficiently and effectively every time. I’ve been able to build more territories with confidence, bringing my team more growth opportunities for 2019"
Daina C.
Franchise Development Manager
Amada Franchise, Inc.
"I had an excellent experience with MapBusinessOnline because my company works in the agriculture industry and makes maps showing where our fields are and these maps need to be viewed and shared in a database. Your product seemed to fit our needs. Overall good support, ease of use, and quality of maps created!"
Seneca Foods