Understand the basics of location technologies and how these technologies can be applied to your business to increase sales, boost efficiency, and potentially keep your workforce safer.
Reaching customers when and where they are most likely to buy is the goal for any business. Using geocoding is a great way to make this ideal scenario a reality. Since almost everyone carries a smart phone these days, many businesses are using geocoding to perform detailed data analysis in order to make better business decisions and promote their products.
Let’s break down what geocoding is and what it can do for your business.
What is geocoding?
For analytics, marketing, and features like navigation or routing, geocoding is required to translate human readable addresses to machine readable information.
The geocoding process matches addresses with latitude and longitude coordinates. Three major functions are supported by the Geocoding API:
- Address (forward geocode)
- Reverse geocoding
- Batch requests (can be submitted as Key-Value pairs, JSON, and XML)
How can geocoding help businesses?
Real-time consumer information can help you promote your business when and where your customers are shopping for your products or services. Once customers check in from their smart phones, their mobile GPS coordinates can be obtained and translated to an address that can be integrated with other data and applications.
When geocoding is used to analyze specific market information and make business decisions, this is called geomarketing. Your business can use geomarketing to locate and analyze your customers on digital maps. This allows you to manage inventory, plan delivery routes, coordinate sales, and improve overall efficiency and increase revenue.
Geocoding for your business can also mean pushing marketing messages to a specific audience at the exact time and place they are likely to make a purchase. Geocoding allows you to apply location data to detailed demographic data to predict customer behavior. This kind of data will help you designate the right demographics at the right place and time to target those customers who are most likely to respond to your offers and marketing messages.
Here’s an example of geomarketing that might work for your business. A customer buys a product from your establishment and is asked to provide their mobile phone number to your business (and opt-in for location). Your business now has the location of that smart device and can push offers and targeted marketing messages based on location, time of day, previous purchases, and any other data applicable.
Geocoding can be leveraged to promote products and services in a variety of ways. Businesses worldwide are using this technology to market their products successfully and increase revenue.
To learn how geocoding can optimize efficiency, grow sales, and give your business a leg up on the competition, send us an email at info@MapQuest.com or give us a call at 1 (800) 827-7950.
Join Our Mailing List
Subscribe to our mailing list for first access to industry news, blog posts, and more.