Start with location research

Selma — Tue, 27 Sep 2022 11:32:56 +0000

Start with location research Selma Tue, 09/27/2022 - 13:32

Start with Location Research

When people hear location research they often associate it with industries such as retail, real estate and warehouses. However, location research can be implemented in any tangible product industry. For example, placing EV chargers will not be efficient and optimal if they were placed randomly therefore location research is carried out to decide where EV chargers should be installed so that they are used optimally and effectively. The same goes with a shared bicycle provider, conducting location research will illustrate the best spots to have this service available.

Location research = understanding prospects

However, location research is not only limited to determining the location where a product should be available for optimal performance it can also provide information regarding how many units should be placed, what is the acceptable price point within the region, and who the competitors are in this region.

And before conducting location research an effective site screening method should be put in place. Meaning that if we have 500 potential locations only the most potential location should go through extensive location research that way you will save money and time by weeding out the not-so-successful locations.

Customized to each industry

Location research is customized to each industry or company as the selling points and focus points of one industry will be different to the other. Therefore it is important to establish the criteria that will make a location a winning or a losing location. For example, an EV charging location will take into consideration the population, pricing competition, and how many cars will pass the location where the EV charger is installed at.

Another major point to consider is the fact that a product might not be solely a home-based business source meaning that it does not only serve the local but also the passing by, for example, taking the EV charger again as an example they do not only serve the neighbourhood they may also get traction form highways and passing traffic.

Using models and methods

We use the multivariate statistical models and analogue method, such as stepwise multiple regression analysis for individual sites. As for networks we use gravity models which are commonly used for petrol stations and retail chains.

Why this is for you?

Why should you invest your time and money in a location research service as it will help you:

Grow your product coverage strategically
Save cost by placing your product effectively by avoiding costly mistakes
Target your selling scoop which will lower your sales cost and higher your closing rate and well success rate
Grow to different regions, cities or countries strategically
It improves the ROI of a business as it indicates the efficiency of an investment

Feel free to contact us for help we have researched hundreds of locations (prospects) and enjoy helping you become more successful

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Compelling arguments and materials

Blue Marloc — Tue, 27 Sep 2022 07:49:32 +0000

Compelling arguments and materials Blue Marloc Tue, 09/27/2022 - 09:49

So you reached the best prospect, now what?

We have spent much time on analysing what it takes to reduce lead times and increase closing rates. It starts with reaching out to prospects with higher potential of success. When we analyse the 'reasons' of win and loss patterns emerge in the data. Using our tools the significance of data items (like number of rooms for a hotel or the distance to city centers) starts to give meaningful input for lead scoring.

Back to "Now what?"

So when a prospect is contacted it is all about making the sale. We have found that providing prospects with professional and personalised sales material improves close rates with 5% to 17%. Which gives a significant reduction in sales-cost (customer acquisition cost).

Don't just do it once, do it all the time!

The effort of creating compelling sales material is not (only) in a good looking design; everyone has that. It is about two or three things: the prospect must be convinced you made an effort to understand the prospects situation, the prospect must experience interesting facts applicable to her situation, the prospect must experience your solution was tailored for her.

Doing it once is a marketing effort; where large sums are spent on nice sales brochures and such. But it doesn't work (enough). It is at best a better me-too approach.

At BlueMarloc we have taken a different approach; we collect sales compelling data directly with the lead contact data. We (or better our systems) connect with information like financials, history, management changes, the competition the prospect is in and lots of local data. We also produce sales brochures, spreadsheets and powerpoints which we feed directly from this personalised information.

With these tools sales can contact prospects with personalised materials, as if every prospect is special.

And isn't every prospect special for you to take this effort and benefit from better close rates?

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