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How Geodemographics Transform Customer Data Into Location Intelligence Insights
7th December 2022
LeisureVision Points is a competitively price dataset of over 250,000+ leisure locations across the UK. Points is a comprehensive dataset of locations across 4 product types including Food & Beverage (F&B), Entertainment, Competitive Socialising and Sport & Fitness. Each Point is also assigned to one of over 100+ categories. The attributes associated with each point are: Name, Brand, Location, Product & Category.
Transform Customer Data into Customer Insights with Geodemographic Datasets
Within most consumer facing industries today, having data or ‘Big Data’ is generally an expected given. Data is often seen as an asset. However, un-informed data is only jargon, until it is translated into insight that is applicable to the relevant business environment.
Knowing where your customer lives can be used to drive actionable insights. If you know your customers address or postcode, geodemographic data can be used to discover who your consumers typically are. For example, learn their habits, potential to buy, opinions, attitudes, likes, and dislikes. The better you know your consumers, the better you can attract, engage, satisfy, and retain them.
There are several geodemographic data sources available, and with the release of the 2021 Census data in the next year we expect a host of new products to enter the market. The 2021 Census occurred during one of the Covid-19 lockdown - read our previous blog about the 2021 Census. Therefore, it will be interesting to see how this impacts the quantity and quality of the data, as well as how the pandemic has impacted our lives, in addition to how much we have changed as a nation since the last Census in 2011.
As businesses have tried to adapt to post pandemic world, they have had to respond to changing consumer habits, needs and characteristics. Therefore, the 2021 Census data could provide a key role in understanding the current consumer landscape. The Census data is currently being released in a series of stages throughout 2022 and 2023.
However, access to an extensive array of data is like having the most detailed map and not knowing where you’re trying to get to. The trick is knowing what information and insight you are trying to obtain to get the most out of your data.
" The better you know your consumers, the better you can attract, engage, satisfy, and retain them "
What is Geodemographic Data?
Geodemographic data, also known as consumer segmentations or classifications, are created by grouping demographic and socio-economic characteristics within a specific geography. Variables such as age, gender, education level, income etc., reveal lifestyle segments that provide a description or ‘profile’ of your customers. Additional resources, such as panel survey data, are also often incorporated to enrich the data.
Customer profiles can be applied across multiple business functions, including in marketing, retail planning, and location planning for site selection.
" Geodemographics... reveal lifestyle segments that provide a description or 'profile' of your customers "
Geodemographics in Marketing
Marketers across multiple sectors and industries draw upon geodemographics to understand their customers and their markets. Creating profiles of their most loyal, highest spending, or most active customers enables organisations to look for markets with the same characteristics, or their “look-a-like” customers.
Being able to group and differentiate customer groups using geodemographics can be used to develop campaigns effectively. Messages, proposition and offers can be tailored to appeal specifically to a particular customer segment. For example:
- Select postcodes for leaflet distribution
- Use drivetimes to select the best and most appropriate outdoor media
- Target promotions in the right areas
Such initiatives will ensure that investment is focused on the cohorts that are most likely to respond to a campaign and will therefore deliver return on investment.
Geodemographics in Retail Planning
Retail operations teams can equally benefit from insightful and well curated data sets. Geodemographics can be a powerful tool in ensuring a location performs as best it can. With an understanding of a store’s retail catchment and the type of customers it serves, a business can tailor their products and services to ensure they are relevant and anticipate demand for products and services. Modelling tools allow retailers to predict future trends, so they can adapt their propositions and ranges accordingly.
Geodemographics in Location Planning for Site Selection
Using geodemographics and customer insight to inform your location planning strategy can create high-performing and sustainable store networks. Understanding the population distribution of key customer types is one factor of demand that can help businesses to make objective decisions about site selections.
You can find opportunities in locations with high populations of your key target audience that currently aren’t being served by your offer, or your competitors. These can be analysed in conjunction with other factors, such as footfall or presence of your affinity brands, to determine whether these areas have high potential for a new site opening.
Alternatively, you could determine that the catchment of a current site doesn’t capture the right audience. This may indicate where a relocation could enhance the sites performance, or a site closure might be necessary if it has poor performance, and the catchment is made up of the wrong geodemographic groups.
This insight equips organisations with the information to make strategic decisions for optimal site selection, which can future proof a business. However, to get the right insights, it requires more than just obtaining data sets, but utilising the data in the right way.
" Geodemographics and customer insight... equips organisations with the information to make strategic decisions for optimal site selection "
How to Access Geodemographic data, and Successfully Gain Customer Insight
Once an organisation is clear what it is trying to achieve, it can then begin to consolidate and connect data from different tools and sources to access the insight they require. A key factor to consider is the resource and capabilities available in-house to obtain this insight; as it may take time and if not executed well it could be a wasted investment. If you have the in-house capacity, then location intelligence data including Geodemographic datasets can be delivered as perpetual or licenced data for you to use as required.
Outsourcing your geodemographic analysis by engaging with specialists, can give you access to existing learnings and insight from years of developed expertise and experience. In addition, you could benefit from data sets already curated to the same requirements, and bespoke mining and modelling tools that otherwise would not be accessible.
Third party providers can report back actionable insights. Such exercises can also contribute to longer term initiatives such as location planning consultancy projects. Ultimately, using a specialist location intelligence consultancy can deliver agile more precise results that are successfully communicated and applied, and deliver better returns on investment.
If you are looking for a middle ground between processing raw data in-house and outsourcing as part of a project, there are also some more hybrid solutions which can enable you to draw upon expertise without losing all analytical control. Such solutions can allow you to gain the expertise of a specialist location intelligence consultants but self-serve geodemographic analysis using proprietary tools.
How GMAP's MVPLUS can Derive Location Intelligence Using Geodemographics
MVPLUS is an example of a location intelligence tool
that can allow you to self-serve your geodemographic analysis. MVPLUS provides access to array of datasets, include Geodemographics. Furthermore, MVPLUS is a self-serve geographical information system (GIS) that allows the client user to undertake their own analysis to generate greater understanding of spatial relationships between a network or location and its customers.
Within MVPLUS you can use the geodemographic data to:
- Upload and tag customers with Geodemographic profiles to know what a customer looks like based on just a postcode
- Run a profile report to see what type of customers respond to your offer, compared to the national population
- Find new customers by mapping your key target groups by different geographies, such as by Postcode Sectors
CAMEO Geodemographics in MVPLUS
GMAP are resellers of the CAMEO consumer classification, and is the key geodemographic product in MVPLUS. CAMEO is an industry standard Geodemographic product, available in 36 countries. With CAMEO, clients can obtain profiles of their customers, which can be used to apply learnings across multiple markets.
GMAP provide the Location Intelligence Tools, the Expertise, and the Knowhow
Whether your business operates a network of showrooms, forecourts, retail outlets or restaurants, we understand that each organisation has its own goals and nuances, and we tailor our work accordingly. We will draw upon our decades of location planning and location intelligence experience to deliver a bespoke, curated, and scientific outcome.
GMAP Analytics
are world-leading providers of innovative geographical analysis and objective location planning consultancy. With over 30 years’ experience and its ground-breaking location planning strategies we have created a market that has become a critical part of business decision-making. Since, GMAP has worked with some of the world’s largest organisations in over 60 countries and is widely recognised as a market leader in location intelligence.
Get In Touch
To learn about how our geodemographic data products and location intelligence software, as well as about our location planning consultancy, get in touch! Email us at info@gmap.com or call us on +44 113 306 1585
Transform Customer Data into Customer Insights with Geodemographic Datasets
Within most consumer facing industries today, having data or ‘Big Data’ is generally an expected given. Data is often seen as an asset. However, un-informed data is only jargon, until it is translated into insight that is applicable to the relevant business environment.
Knowing where your customer lives can be used to drive actionable insights. If you know your customers address or postcode, geodemographic data can be used to discover who your consumers typically are. For example, learn their habits, potential to buy, opinions, attitudes, likes, and dislikes. The better you know your consumers, the better you can attract, engage, satisfy, and retain them.
There are several geodemographic data sources available, and with the release of the 2021 Census data in the next year we expect a host of new products to enter the market. The 2021 Census occurred during one of the Covid-19 lockdown - read our previous blog about the 2021 Census. Therefore, it will be interesting to see how this impacts the quantity and quality of the data, as well as how the pandemic has impacted our lives, in addition to how much we have changed as a nation since the last Census in 2011.
As businesses have tried to adapt to post pandemic world, they have had to respond to changing consumer habits, needs and characteristics. Therefore, the 2021 Census data could provide a key role in understanding the current consumer landscape. The Census data is currently being released in a series of stages throughout 2022 and 2023.
However, access to an extensive array of data is like having the most detailed map and not knowing where you’re trying to get to. The trick is knowing what information and insight you are trying to obtain to get the most out of your data.
" The better you know your consumers, the better you can attract, engage, satisfy, and retain them "
What is Geodemographic Data?
Geodemographic data, also known as consumer segmentations or classifications, are created by grouping demographic and socio-economic characteristics within a specific geography. Variables such as age, gender, education level, income etc., reveal lifestyle segments that provide a description or ‘profile’ of your customers. Additional resources, such as panel survey data, are also often incorporated to enrich the data.
Customer profiles can be applied across multiple business functions, including in marketing, retail planning, and location planning for site selection.
" Geodemographics... reveal lifestyle segments that provide a description or 'profile' of your customers "
Geodemographics in Marketing
Marketers across multiple sectors and industries draw upon geodemographics to understand their customers and their markets. Creating profiles of their most loyal, highest spending, or most active customers enables organisations to look for markets with the same characteristics, or their “look-a-like” customers.
Being able to group and differentiate customer groups using geodemographics can be used to develop campaigns effectively. Messages, proposition and offers can be tailored to appeal specifically to a particular customer segment. For example:
- Select postcodes for leaflet distribution
- Use drivetimes to select the best and most appropriate outdoor media
- Target promotions in the right areas
Such initiatives will ensure that investment is focused on the cohorts that are most likely to respond to a campaign and will therefore deliver return on investment.
Geodemographics in Retail Planning
Retail operations teams can equally benefit from insightful and well curated data sets. Geodemographics can be a powerful tool in ensuring a location performs as best it can. With an understanding of a store’s retail catchment and the type of customers it serves, a business can tailor their products and services to ensure they are relevant and anticipate demand for products and services. Modelling tools allow retailers to predict future trends, so they can adapt their propositions and ranges accordingly.
Geodemographics in Location Planning for Site Selection
Using geodemographics and customer insight to inform your location planning strategy can create high-performing and sustainable store networks. Understanding the population distribution of key customer types is one factor of demand that can help businesses to make objective decisions about site selections.
You can find opportunities in locations with high populations of your key target audience that currently aren’t being served by your offer, or your competitors. These can be analysed in conjunction with other factors, such as footfall or presence of your affinity brands, to determine whether these areas have high potential for a new site opening.
Alternatively, you could determine that the catchment of a current site doesn’t capture the right audience. This may indicate where a relocation could enhance the sites performance, or a site closure might be necessary if it has poor performance, and the catchment is made up of the wrong geodemographic groups.
This insight equips organisations with the information to make strategic decisions for optimal site selection, which can future proof a business. However, to get the right insights, it requires more than just obtaining data sets, but utilising the data in the right way.
" Geodemographics and customer insight... equips organisations with the information to make strategic decisions for optimal site selection "
How to Access Geodemographic data, and Successfully Gain Customer Insight
Once an organisation is clear what it is trying to achieve, it can then begin to consolidate and connect data from different tools and sources to access the insight they require. A key factor to consider is the resource and capabilities available in-house to obtain this insight; as it may take time and if not executed well it could be a wasted investment. If you have the in-house capacity, then location intelligence data including Geodemographic datasets can be delivered as perpetual or licenced data for you to use as required.
Outsourcing your geodemographic analysis by engaging with specialists, can give you access to existing learnings and insight from years of developed expertise and experience. In addition, you could benefit from data sets already curated to the same requirements, and bespoke mining and modelling tools that otherwise would not be accessible.
Third party providers can report back actionable insights. Such exercises can also contribute to longer term initiatives such as location planning consultancy projects. Ultimately, using a specialist location intelligence consultancy can deliver agile more precise results that are successfully communicated and applied, and deliver better returns on investment.
If you are looking for a middle ground between processing raw data in-house and outsourcing as part of a project, there are also some more hybrid solutions which can enable you to draw upon expertise without losing all analytical control. Such solutions can allow you to gain the expertise of a specialist location intelligence consultants but self-serve geodemographic analysis using proprietary tools.
How GMAP's MVPLUS can Derive Location Intelligence Using Geodemographics
MVPLUS is an example of a location intelligence tool
that can allow you to self-serve your geodemographic analysis. MVPLUS provides access to array of datasets, include Geodemographics. Furthermore, MVPLUS is a self-serve geographical information system (GIS) that allows the client user to undertake their own analysis to generate greater understanding of spatial relationships between a network or location and its customers.
Within MVPLUS you can use the geodemographic data to:
- Upload and tag customers with Geodemographic profiles to know what a customer looks like based on just a postcode
- Run a profile report to see what type of customers respond to your offer, compared to the national population
- Find new customers by mapping your key target groups by different geographies, such as by Postcode Sectors
CAMEO Geodemographics in MVPLUS
GMAP are resellers of the CAMEO consumer classification, and is the key geodemographic product in MVPLUS. CAMEO is an industry standard Geodemographic product, available in 36 countries. With CAMEO, clients can obtain profiles of their customers, which can be used to apply learnings across multiple markets.
GMAP provide the Location Intelligence Tools, the Expertise, and the Knowhow
Whether your business operates a network of showrooms, forecourts, retail outlets or restaurants, we understand that each organisation has its own goals and nuances, and we tailor our work accordingly. We will draw upon our decades of location planning and location intelligence experience to deliver a bespoke, curated, and scientific outcome.
GMAP Analytics
are world-leading providers of innovative geographical analysis and objective location planning consultancy. With over 30 years’ experience and its ground-breaking location planning strategies we have created a market that has become a critical part of business decision-making. Since, GMAP has worked with some of the world’s largest organisations in over 60 countries and is widely recognised as a market leader in location intelligence.
Get In Touch
To learn about how our geodemographic data products and location intelligence software, as well as about our location planning consultancy, get in touch! Email us at info@gmap.com or call us on +44 113 306 1585
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