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 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.
A leading provider of automated storage and retrieval systems, Kardex Remstar has a multi-layered distribution network in North America. Mapping regional sales territories and sales districts using ZIP codes and states. Kardex Remstar tapped into MBO territory creation services to make the process quick and easy. Detailed ZIP code tables were converted by MapBusinessOnline into multiple maps describing their distribution network, sales coverage by customer segment, and product maps.
"The product is phenomenal and the support even better."
Sales Manager
Kardex
"Unleashing Growth: How MapBusinessOnline added value to our Franchise Business"
"Since our franchise businesses began utilizing MapBusinessOnline seven years ago, we have experienced a remarkable added value in our operations and growth. MapBusinessOnline has provided us with an innovative, user-friendly, and powerful tool to manage and expand our franchise territory landscape. With its comprehensive mapping and data visualization capabilities, we have been able to make strategic decisions based on the data insights and effectively plan our expansion strategies. The interface and seamless integration with our existing systems have made the transition to MapBusinessOnline a smooth and enjoyable experience.
One of the most significant benefits we have experienced with MapBusinessOnline is the ability to analyze a variety of markets quickly. This has allowed us to identify new opportunities and target areas for growth, ultimately leading to increased revenue and a stronger brand presence. The customer support provided by the MapBusinessOnline team have been exceptional, ensuring that our team is well-equipped to make the most of the platform's features. We wholeheartedly recommend MapBusinessOnline to any franchise business."
Marty Flanagan
VP of Brand Growth
Franchiczar ( Code Ninjas – Valhallan Esports – Iron24 Fitness+Recovery and Pinots Palette )