Defining a specific trade area is a fundamental step in any business market analysis. Determining a trade area helps to establish boundaries around the geographic regions where up to 75 percent of your customers are likely to come from. A thorough trade area analysis can also help you uncover key demographic information about your customers that allows you to more precisely target and maximize your marketing efforts.
Trade areas can be broken down into two basic types:
A trade area analysis should be conducted on a regular basis and should take into account a number of factors. Examples include:
Business Maps are an extremely valuable trade-area analysis tool as they help you visualize specific areas of interest exposing hidden sales opportunities and possible gaps in your marketing strategies. MapBusinessOnline is an affordable, easy-to-use online mapping software that is an effective trade-area analysis tool helping you:
Discover how easy it is to create trade area analysis maps by taking advantage of our free mapping software trial offer!
One of many international companies left hanging by Microsoft’s cancelation of MapPoint and turning to MapBusinessOnline for a MapPoint replacement. Multiple departments across the enterprise utilize business mapping for a variety of applications including claims management analysis, insurance related operational planning, and market analysis. An extremely detailed procurement and security review lead to a contract for MapBusinessOnline services. Corporate accounts use MBO for sales territory mapping, collaborative Team editing, and communicating with maps.
Top Ten Property & Casualty Insurer
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
"MapBusinessOnline one of the most powerful tools I have as a Regional Channel Manager. It’s a difficult task to visually represent the vast amount of data that I have to present to my customers and team members. MBO makes it easy to represent, configure, and manipulate the data on to an effective map. A picture is worth a thousand words, and MBO allows me to create a perfect picture."
Ed Ku
Regional Channel Manager
ABB