Analyse your markets
Visualise your stores, competitors and customers; understand patterns in their behaviour
- Where do our customers live in comparison to our outlets?
- Where are our competitors located?
- What are the demographics of the area?
- Where is there most potential for leaflet deliveries?
Visualise your market
Knowing who your target market is and understanding the lifestyle and habits of people within that market is key to business success.
Plot your store locations on a map; surrounded by the locations of your competitors, existing customers and potential customers to clearly see your business market. You can:
- Find out more about your customers
- Find new customers
- Predict demand
- Open new outlets
- Target your advertising
Understand your customers with profiling
The Prospex Profiler wizard allows you to classify your customers into demographic categories within a people classification, such as P² People & Places, Acorn, PRIZM, CAMEO or MOSAIC. Prospex identifies the similarities in your customers’ characteristics and lifestyles. To analyse their buying habits, cross tabulate Target Group Index (TGI) consumer market survey data. Use this information to tailor your products and marketing to your customers’ requirements.
Take this one step further and find out where people with similar classifications to your customers live so you can expand your customer network by promoting and selling your products to them.
Analyse your customers further
Because different products in your range appeal to different customers, Prospex allows you to break down your customers into groups by, for example, geographical location. Customers that travel a long distance to visit your store may be different to those that live nearby and your Scottish customers may not behave in the same way as those in the South East. Sub setting allows you to take this into account so you can target your promotions and sell more appropriately to your different types of customers. 
Find new customers and target your advertising towards them
Work out how long your existing customers drive for to reach your store by importing their postcodes into the Drive Time wizard in Prospex. The wizard produces a map showing your store and the catchment area surrounding it. Identify prospective customers within this catchment to target. In addition to the catchment map, Prospex also produces a report outlining which households within your catchment match your existing customer profiles, i.e. which households are likely to be interested in your products.
Estimate demand in a new area
Estimating demand in a new sales area is key to establishing whether the business will succeed or fail. Once you have created profiles of your customers, use them to identify how many people in the new area are similar to your existing customers. Prospex calculates the probability of these people buying your products, thus estimating the demand for your business in this area. Compare your customer profiles with the population profiles of new areas to work out which location will generate the most revenue.
Target your advertising
Estimate how long customers are likely to travel to reach your store and then simulate a core ‘advertising’ area around your store. Colour code all the postcode sectors reached in ten, 20 and 30 minutes to display a catchment map banded by drive time. Use this map to target your direct mail to properties within your catchment so advertising spend is not wasted on people out of reach.
Export your drive time catchment into JICREG to run a readership report on that area. View the catchment with newspaper titles overlaid on a map for instant assessment of the best publications to advertise in.
Find out more about Prospex
To find out more or to buy Prospex, call us on 01904 701020 or complete our enquiry form detailing your requirements.