Guide to market data
Whether for marketing activities, location or territory planning: You will get better results using the right market data.
In this guide you will find the answers to the most important questions concerning what to consider.
What is marketing data?
Marketing data is spatial information (i.e., spatial data) which helps companies to make contact with their respective target groups in the ideal and most efficient way.
This could be household-related data for example, which provides insights into the demographic composition or into purchasing power or lifestyle. But also, data on the quality of residential areas, accessibility matrices for retail and service companies or traffic frequencies plays a significant role in many cases.
There is both marketing data on the basis of statistical surveys and questionnaires as well as modeled data taken from reliable simulations based on actual data.
What is geomarketing?
The term geomarketing covers all the elements and approaches of classic marketing while additionally providing them with a spatial reference. In a narrower sense, a price list with different shipping costs for customers in different regions and countries would therefore count as geomarketing too. Against the backdrop of the increasing importance of spatial data, however, geomarketing today tends to include those marketing areas that can be represented cartographically (usually in an automated manner) or that can be aggregated spatially as desired.
Essentially, geomarketing comprises, on the one hand, territory and location planning, which is primarily focused on optimizing sales and branch networks in terms of accessibility, transport connections or significant cost-effective and industry-related location conditions. On the other hand, it also looks at making contact with the target customer group and determines the most efficient way for goods, information or advertising to reach their destination.
In addition to the company’s own customer, process or production data, geomarketing primarily makes use of a wide range of market data and information on demand levels. Vital to the effectiveness of geomarketing is that all of this data can be combined and aggregated with any geographic reference, such as street networks, topographic maps, or administrative boundaries, and tailored precisely to the respective planning or analysis needs.
Where and how is market data used?
Market data always comes to the fore when a company needs to analyze and evaluate its own market situation or that of other companies, or when planning the consolidation and expansion of their own market position. So, it is primarily used in territory and location planning as well as geomarketing.
If market data is aggregated with suitable corporate data such as customer or supplier structure, sales or profitability figures, or also logistics information, market data can be used to identify new business fields or customer potential and to optimize sales territories, branch networks, or service locations. However, market data also opens up customer acquisition and retention potential, as it supports efficient geomarketing and a needs-based approach to target groups.
PTV will not only provide you with all commonly available market data from around the world but will also offer qualified advice and support for its targeted integration into your corporate data, right up to setting up your own geographical information system (GIS) or integrating the market data into your existing GIS.
What is POI data and PoS data?
POI data is point data that identifies the geographical location of “points of interest”. For private use, these could be, for example, popular destinations for outings, gas stations and rest stops, doctors’ surgeries or schools which are located on maps.
In the corporate context, numerous other POIs are of interest, depending on the industry. This could be information on important facilities for logistics or route planning, or also information on where competitors or potential customers are located for the company’s own sales territory or location planning.
PoSs are a subsection of POIs, namely “points of sale”. They identify all shopping sites or, from the perspective of the supplier, the sales outlets. This makes them an important basis for decision-making processes, especially when it comes to geomarketing for retail companies, who are carrying out their own location and territory planning, but also for companies that profit from a spatial proximity to retail areas.
PoS data by PTV GmbH includes not only retail sales points, but also the locations of gastronomy and health services and contains, in addition to the geographical coordinates, further information such as addresses, contact data and opening hours.
Where is market data available?
A lot of market data is available free of charge, for example from the state statistical offices, industry associations and chambers of commerce, from consumer organizations or credit and financial investment institutions.
However, for professional geomarketing on the basis of a GIS (geographical information system), this data is usually either not suitable at all or only to a very limited extent. On the one hand, efficient geomarketing always requires a spatial reference to the company using it, including their supplier and customer relationships, on the other hand, a lot of free data is subject to licensing and usage restrictions for commercial use.
PTV has almost all market data available on the market for such commercial use, either within its own service offer, or it can be obtained specifically from almost all data suppliers on the market. PTV also provides expert advice and support on all possible uses and applications, suitable software, scalability or integration into the corporate platform.
By which characteristics can reliable market data be recognized?
Credible data can be recognized by three different characteristics: Firstly, the market data is up to date and is checked at regular intervals to ensure that it is not outdated. Secondly, its sources are transparent and also clearly stated. Thirdly, the data is consistent and, when totaled, always arrives at 100%. PTV GmbH ensures the competent preparation of market data and provides you with reliable data for your respective analysis or planning needs.
The advantages of geomarketing at a glance
- With the help of geomarketing, the connections and relationships between existing data are more easily recognized.
- Market data helps you make rational decisions and justify them objectively.
- The value of your existing corporate data can be enhanced based on newly gained insights.
- Geomarketing provides small-scale and large-scale insights which are tailored entirely to your unique analysis and planning needs.
- Market data supports both your decisions during various phases as well as the decision-making process of various departments, such as sales and marketing when entering new markets.
Geomarketing helps to minimize risk by providing you with objective data about your target groups, allowing you to make long-term business plans based on these insights.
Any questions? We are here for you!
Do you want to find out more about the PTV world of data? Get in touch with our team of experts using the online form or simply give us a call at:
Phone +49 (0) 721 9651 400