The 100 Million Dollar Map - eComm enhanced

With the astonishing growth of online purchases, many companies have been lulled into the soma pill delusion that customers live in the virtual realm.

But they don't.

Believe it or not, customers still live, love, and function somewhere on a map, somewhere on that big blue marble circling our solar system. The fact is, some information can only be discovered in maps, even eComm purchases made from a chaise lounge with a tablet. Here are just a few metrics that would be dark to your eComm program without maps

1. OPPORTUNITY PROXIMITY MEASUREMENTS

50% of revenue generation for the typical company relies on advantages gained by proximity strategies: knowing how close stuff is to other stuff (such as proximity to customers, offices, sales reps, competitors, etc). Without maps, all metrics related to proximity (such as under-performance of one market that is close to another market that is over-performing) are completely lost. eComm has a strong mapping component, and without mapping eComm for proximity analysis, money is being left on the table.

2. HEATMAPPING OF TARGET CUSTOMER SEGMENTS

eComm sales records that are segmented through Experian Mosaics can be located and heat-mapped for additional proximity strategy support. Knowing how close eComm customers are to each other provides a huge additional layer of intelligence and market opportunity sizing, which would be completely lost without maps.

3. LATENT MARKET DEMAND

Latent demand can only be calculated using smaller geographies. Without maps to create the correct geographic groupings there is no way to correctly group proximal purchases for analytics. Without maps, you are left with artifacts like 30,000 rows of zip codes to make sense of in a limited spreadsheet.

MAXIMIZE YOUR ECOMM: MAKE MAPS!

Without investment-grade mapping, digital marketing efforts are not being maximized. Money is sadly being left on the table. With a little effort with mapping that data, and gaining greater insights, a company grows and its entrepreneurs and investors are happy.

If you would like us to post a 100 Million Dollar Map for a particular industry, or if you have any questions about the map images we have posted in this article and would like a deeper explanation, feel free to contact Ben Hector, senior project manager at GeoStrategies: ben@geostrategies.com, or call Ben at (800) 738-4GEO.

GeoStrategies can identify top areas and clusters of market potential for almost any industry and company, anywhere in the US, starting at under $10,000. Our market mapping support starts small and grows into investment-grade mapping as a company grows or the requirements of financial sponsors are elevated. All of the maps are available on our mapping platform, Epiphany. Click the Epiphany logo below for an online sample of our basic market potential model: