Evaluate Areas Of Potential With Market Match

Want To Hit A Bullseye When Targeting An Audience?

All businesses rely on their customers. So it makes sense to choose locations in areas where as many of those customers are. No customers mean no business, and that's no fun for anyone. Not just any customer will work though, we're looking for your customer, your target audience. Who are they and what makes them unique? Building a comprehensive customer profile will be crucial when determining your next location.

One way you could create a profile is by running demographic reports on multiple sites and comparing the data. But what if some of your sites are in areas with distinct variables, such as being in a more residential area or having a higher population than usual? Sorting through your data using these factors can be time-consuming, and that's not even considering the additional time or tools needed to find your profile within your market.

Is There An Easier Way To Find My Customers?

You bet there is!

The Market Match tool not only creates a profile for your brand but pinpoints areas where that brand will thrive. Using data from your top performing sites as the base of your profile, the tool will score areas on how well it matches that profile.

Visualizing prospective locations quickly has always been important, and Market Match brings that as well as a new way to look deeper into the data. Clicking on a shaded part of the map will show why that area scored that way, so you can make even better decisions in your commercial real estate projects.

Is Your Brand Profile As Good As It Could Be?

Although Pure Barre is open to everyone, Pure Barre's target audience is largely focused on women. When setting up our Market Match study, we'll be sure to include this and put an emphasis on residential demographics over business demographics. Using this context and data from the sites, in this case visitors per year, areas can now be scored to best match the brand's needs.

Using mobile data as a metric we want to see more of, Market Match will rank our inputted sites from greatest to least. Then, we'll determine which we want to focus more on, residential or business demographics. From there we can narrow what other demographics within those categories we're looking for. Market Match then uses the rank given by mobile data and our desired demographics to grade areas in the market that closely match our prerequisites. Find trends and similarities when you see what demographic dimensions make up your score.

How To Visualize New Areas To Explore

Right away, it's clear that Pure Barre is following a demographic trend. We can see that a lot of Pure Barre's are already located in high scoring areas yet there are still pockets of potential that could be explored. South Fulton and Sandy Plains could be areas of interest as they score fairly well and do not have any Pure Barre locations.

From here, where you go is up to you. You could see how well an area matches a profile by looking at the demographic dimensions, developing that profile even further. Or you could use other REGIS Online tools to see how viable that location is. Whether it's replicating successful locations or discovering new, promising expansion opportunities, Market Match has got you covered. •

Last Modified April 11, 2024