A key moment for all retail companies is market expansion, whether that means opening new brick and mortar shops or launching marketing campaigns in new areas. This is the moment when the company must decide between multiple opportunities for expansion and it is often difficult to know what data should serve as the basis of these decisions.
At FLYDE we understand the importance of not making these decisions based on intuition or convenience, but using your own business data to guide them.
UNIFY YOUR DATA
To make the most of your data, you need to be able to collect it, structure it, and make it actionable, all in one place. That’s exactly what a Customer Data Platform does.
With FLYDE, you can unify data from all your sources (social media, ecommerce platform, POS, email, CRM) into a single, structured view of each customer. You can then enrich that data with external socio-demographic information, such as average income levels by neighbourhood or predominant housing types, giving you a much broader and more accurate picture of who your customers are and where your best opportunities lie.
OBTAIN A 360 VIEW OF YOUR CUSTOMER
With all your data unified in one platform, you can build detailed customer profiles and segment them based on real behaviour and characteristics, not assumptions.
For example, if you run a fast food chain, FLYDE can show you the shared characteristics of your most loyal customers: their income level, neighbourhood type, preferred shopping hours, and purchase patterns. Once you identify those commonalities, you can build an audience based on that profile and use it to target campaigns towards new customers who share the same characteristics, whether you’re launching in a new area or trying to grow an existing one.
GEOMARKETING
Beyond unified customer profiles, FLYDE also gives you the tools to act on that data strategically, including predictive models that help you identify where your next growth opportunities are.
One of these is Geomarketing, which lets you visualise your customer data geographically and understand the relationship between your customers and their locations. All your customer and market data is mapped so you can identify patterns by area, compare markets, and spot where demand is strongest.
Going back to the fast food chain example: when the time comes to open a new location, FLYDE can compare the profile of your current customers with the characteristics of potential customers in other areas. Rather than relying on gut instinct, you get a data-backed recommendation on where your next expansion is most likely to succeed.
WHY FLYDE?
Market expansion is one of the most significant decisions a company can make. With FLYDE, you have all of the information at your fingertips in order to make a data-informed decision.
From unifying your customer data across all sources, to building detailed profiles, to mapping expansion opportunities with Geomarketing, FLYDE gives your team the tools to make smarter, faster decisions based on your own data. And with Brain, FLYDE’s conversational AI, you can ask questions about your data and get answers in seconds, without needing a data science team.
If you’d like to see how FLYDE can support your expansion strategy, request a demo and we’ll show you the platform with your own data.
