Here Are 3 Ways to Use Location Data in Your Business

You’re near a Dunkin Donuts, and suddenly, you get an ad on your phone that suggests a coffee. Or you receive a discount on a tire shine when you’re in the vicinity of the local car wash. You might even get a builder incentive if you find yourself down the street from a new housing development. In today’s world, location data is all around us – but it’s not just for proximity advertising. There are broader, more strategic benefits that it can provide, beyond marketing.

As you assess the data solutions you use to inform your business decisions, location data – knowing the places consumers go and what events they attend – is worth your consideration. Whether macro or micro, high-level or granular, this actionable intelligence can help you better understand your audience’s behaviors, motivations and patterns. It can also be used as a resource tracker to maximize the use of your equipment and assets. From there, it’s all a matter of understanding what to do with that valuable information.

Identify untapped opportunities.

Any industry can be outpaced by their competition if they’re guessing at their audience’s needs. That’s why doing your research is so important. Location data helps put things into context: What real-world actions and lifestyle details will you find? Having a firm understanding of these insights can help you with product development, events, messaging and services. You might even be able to use the information to forge strategic partnerships or loyalty programs. The end result? A refined understanding of your customer that’s rooted in facts, not speculations.

Improve your efficiency.

Providing a smooth experience is a goal of any industry. The more you can optimize tasks and streamline procedures, the more productive your operations will be. And with the help of location data, you can take efficiency to the next level. Use it to reveal when and where you have empty spaces or backlogged inventory, for example. By automating this process, it’s easier to keep track of when to order stock, how to manage your assets or even where to position staff. Not to mention, you can save yourself a lot of time in the process – a valuable resource in and of itself.

Enact safer workplace measures.

As COVID-19 continues to be a concern in workplaces nationwide, location data can be used to help minimize potential virus exposure and transmission. In the event of an outbreak, you may even be able to utilize it for contact tracing purposes. For everyday workplace safety, count on location data to help plan out the spacing of seats for social distancing or where to put measures in place to avoid crowding (ie: a breakroom). With occupancy sensors, you can even keep track of which areas, like shared spaces, need sanitization more frequently.

Each day, decision makers in health care, eldercare, energy, retail, grocery, quick service restaurants and more are realizing the importance of location data in making their businesses more effective, both in cost and in experience. From understanding your customers better to giving employees confidence in their workplace safety, exploring this technology’s possibilities can lead to major business improvements. If you want to leverage location data to pinpoint opportunities for your business, schedule a free consultation session with Radianse and find out what this smart solution can do for you!