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 helps me identify our most promising markets and define exactly those contacts I’m going to market to. It's the best product I've found that lets me 'visualize' my data."
Tom Jans
Director of Marketing
Swing Surgeon Golf Management
"I just wanted to say thank you for this amazing mapping tool! I've tried a number of sales territory map solutions and this is by far the best. I just (finally!) switched over from MapPoint and this is so much better, I wish I had switched sooner. Your videos and blog are also really helpful, though most things I have figured out on my own. It looks like I also have a lot more to discover as I explore the data visualization tools. Thanks again!"
Andrea Harrison
Business Analyst
Brainlab, Inc.
DPS is the leading provider of timely, relevant and motivational promotional materials for automotive dealerships. Their business strategies drive customer loyalty and sales revenues. Their sales manager uses MBO to create and manage sales territories and describes MBO this way,
"The product is phenomenal and the support even better."
Dealer Product Services (DPS)