The cloud-based, MapBusinessOnline business mapping platform provides a unique and informative tracking system for recognizing and addressing underserved markets.
The Underserved markets I refer to here are those defined by geography, industry, or niche. For example, biotech has taken off over the last ten to fifteen years. Across the entire USA, biotech businesses have emerged to address specific healthcare problems. These medical issues include the growing need for cancer research, veterinarian technologies, and many other healthcare-related developments.
During the Pandemic of 2020, precise and fast COVID-19 testing requirements became a severe nationwide issue. Multiple testing companies sprouted up here in Maine to address this expanding challenge. A Maine-based medical diagnostic testing market was born.
Faced with such a brand-new marketplace, medical supply businesses, medical manufacturing software developers, and other testing-related peripheral providers had an underserved market to address.
Map Visualization Platforms Expose Trends & Opportunities
Enter business mapping software. MapBusinessOnline location-based market analysis could help define underserved medical markets associated with disease diagnostics. By regularly importing all customer location records onto a business map, medical sales and marketing folks could classify and color code those records by industry, product, or size.
Business intelligence professionals can access online mapping tools to identify new market segments visually. MapBusinessOnline’s demographic analysis tools combined with imported relevant user data, will expose hidden business trends and point to new areas of opportunity for sales and marketing campaigns.
Spreadsheets and CRM systems are great tools, well worth the investment, but business mapping software augments customer lists and tracked sales figures with a geographic and demographic analysis’ focus on where and why changes are occurring in the marketplace.
Business mapping software helps:
- Identify and Track New Industries and niche markets – such as COVID testing equipment.
- Confirm Sales Firmographics and business sizes across niche markets that are growing.
- Identifies and Solidifies Specific Opportunities through demographic and geographic analysis applied to markets and industries across the nation.
- Improve Sales Outreach to important customer contacts to learn about the new market’s business requirements, manufacturing processes, and critical business challenges.
- Develop Success Stories demonstrating how your company has assisted any new market, connecting value to features.
Armed with sales justification and market requirement details, underserved market-aware businesses start researching for new prospects.
- Find Prospects – Search the Internet for other businesses with similar requirements. Import prospect lists into a business map visualization.
- Tap Into Key Industry Contacts for similar business suggestions in and outside your standard operating areas.
- Load and View the Locations of all possible new market prospects in MapBusinessOnline.
- Assign Target Business to Territory Managers. Establish sales routes with customer visit times to gather more information and sell products and services.
Many sales and marketing professionals use business map projects and sales territory systems as market tracking tools. Prospective and existing customer locations are plotted against digital maps of North America.
In MapBusinessOnline, plotted points are simultaneously added to a datasheet view of all customers. Critical data columns are developed that expose new market elements, such as demographic or firmographic details that match business requirements with products and services. New market elements like employee counts per location, key contacts, or industry raw material delivery data, pave the way for a better understanding of new opportunities.
Creative Business Listing Searches Expose New Opportunities
Accessing business listing location data can be very helpful in exposing underserved markets. Business intelligence and business listings are paid for contact data records from various USA business data providers. MapBusinessOnline offers access to a leading provider’s business listings for a per-record fee (prices start at $0.15 each and decrease with volume.)
Industry searches allow marketing pros to identify businesses in niche markets across the USA. MapBusinessOnline business listings are searchable through keyword lookups, tapping into the SIC and NAICS industry data search engines. Business listings can be gathered by polygon area, ZIP code, or City Limit. SIC and NAICS industry data search engines.
Niche markets could be ethnic restaurants, vintage clothing retailers, window manufacturers, or adhesive chemical plants. I list these options to show that business listings are a huge database encompassing all businesses. Casting such a wide net is very helpful when identifying specific businesses within an underserved market. Get familiar with search terms and strategies that expose your business targets.
Plotted business listings, along with customer locations and other sourced prospect locations, are viewed as color-coded points on a map within the business mapping software. Sales territories, sales trips, and other marketing efforts can be created based on the geographic placement of these customer addresses. Underserved markets are identified based on areas with active customers and visualized sales activity per business. Find the untapped areas with the most likely business targets and the least amount of business – those areas are underserved.
Identify Areas that Purchase Products & Services
Why do customers purchase your product? This is the most critical question you can address as a sales and marketing professional.
Why did customers purchase Maine-based COVID testing kits?
- Maine companies were early to market.
- Maine is relatively close in proximity to major hospital systems in the Northeast US.
- Maine has several seasoned and influential Senators and Representatives in Congress.
- Maine’s labor pool is both well-educated and cost-competitive.
Researching Maine Testing Equipment Manufactures.
Customer product purchase data is critical intelligence for a supplier in the test kit industry. Such business intelligence is essential for any industry. By gathering this information and matching it with City and ZIP code demographic as well as firmographic data, a marketing team can identify comparable geographic areas across the nation that may be ripe sales and marketing approaches already driving business in known markets.
A sample question might be: Why did our new Beer Brewing Tool take off in the Northwest section of the USA? Answers might read:
- Test cases of our streamlined mixing system were easily presented and sampled to over thirty breweries in our Oregon business’s backyard.
- Industry word of mouth spread like wildfire when the cost savings were quickly recognized.
- Multiple breweries passed on those cost savings to end users improving their market share.
Once again, what worked well in Oregon would surely perform well in other areas of the nation that support dozens of craft breweries within a 50-square-mile area.
Developing Market Area Profiles Using MapBusinessOnline.
The MapBusinessOnline business mapping platform combines map analysis of sales data, demographic analysis by region, and the development of prospective customers by targeted industry. By carefully creating business analysis maps, your company can start identifying and investigating underserved and new market areas for your business.
Additional location-based analysis tools are available through MapBusinessOnline. These include:
Isn’t it time your sales and marketing team started leveraging the power of location-based analysis to identify your underserved markets? Or are you leaving that up to the competition?
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Discover why over 25,000 business users log into www.MapBusinessOnline.com for their business mapping software and advanced sales territory mapping solution. The best replacement for Microsoft MapPoint happens to be the most affordable.
To access MapBusinessOnline, please register and download the Map App from the website – https://www.mapbusinessonline.com/App-Download.aspx.
After installing the Map App, the MapBusinessOnline launch button will be in the Windows Start Menu or Mac Application folder. Find the MapBusinessOnline folder in the Start Menu scrollbar. Click the folder’s dropdown arrow and choose the MapBusinessOnline option.
The Map App includes the Map Viewer app for free non-subscriber map sharing.
Please read customer reviews or review us at Capterra or g2crowd.
Contact: Geoffrey Ives at geoffives@spatialteq.com or Jason Henderson at jhenderson@spatialteq.com.
