Sure, it’s always useful to see where your potential clients are on a map, but sometimes you must combine that picture with something else, like, driving distances. The following example is from the auto industry but can easily be adapted to other industries, like healthcare or manufacturing.
The picture below shows all the dealers and garages licensed in Connecticut.
Now, say you are in the parts supply business, and you want to open a new location on route 4 west of Hartford. You can use location analytics to visually see, and calculate how many potential clients are within a 10, 15, and 20-minute drive radius from several potential sites.
The picture above shows a proposed location in Burlington along with 10 and 15-minute drive rings. A 10-minute distance includes only 5 potential clients, but expanded to 15 minutes, the number of potential clients increases to 50.
What happens if we expand the ring to 20 minutes?
As shown above, a 20-minute drive from the proposed location encompasses 200 potential clients, 150 more potential clients by driving 5 more minutes.
This is only one example of the power of location analytics. How wide to cast the net is only one part of the decision making equation, but it is a significant one.
As mentioned above, this can be adapted to other industries, including healthcare. If, for example, you are looking to expand your orthopedic service line, you can map the location of all the orthopedic clinics, rehabilitation facilities, and sports medicine centers, and see how many of them are within a certain driving radius of your potential sites.
If you are interested in location analytics services, please email me at ELYanalytics@Outlook.com, or call 860-580-5177.