Traditionally, the term “trade area” has referred to a geographic area that defines how far a business’s influence extends. Determining the boundaries of a trade area helps a business discover which locations customers come from. This is critically important when deciding on new business sites or targeting marketing and advertising. By counting numbers of potential customers who live one, three or five miles from your business location, these old-style trade area estimates provided quick but rough numbers. However, they didn’t account for physical barriers or transportation routes. They missed other positive or negative features of an area such as convenience to local attractions, or the location of competing or complementary businesses. They also failed to measure actual business traffic.
Today, thanks to spatial behavior analytics developed by Spatially’s data scientists, it is possible for your business to define and measure the size and location of your target market with far greater accuracy than old-style radius-based trade area measurements ever could. Instead of estimating your trade area based solely on its distance from your business, Spatially determines trade areas by using actual, observed and verified spatial behavioral data. We use this data to identify clusters of your business’s most likely customers. These clusters comprise your business’s Active Trade Area, or ATA. The determination of your ATA is a key element of the success of the Spatially Ads and Spatially Connect ad targeting software platforms. Spatially’s ATA technology is also available to developers as a licensed API.
Spatially determines where your business’s most likely customers live, work and shop by applying proprietary spatial analytic algorithms to huge volumes of anonymized behavioral data. Spatially can target groups by segmenting them based on many variables, including their average income or education levels, specific spending habits, age or gender.
The information that Spatially’s Active Trade Area technology provides to the Spatially Ads and Spatially Connect ad platforms is based on the relevant spatial behavior of your business’s potential customers. Knowing who they are, where they travel (and when) and what they do there provides critical insights into their intents and tendencies.
With ATA, Spatially’s ad targeting platforms determine the characteristics of the people your business is most likely to attract. We then apply these insights to your online advertising. Spatially targets your most relevant audience and serves your ads to them and only them. This lowers your advertising costs and attracts more of your most-probable customers. ATA technology uncovers new, untapped clusters of people who are already traveling to your Business Area but may be further afield than you’d expect. It also avoids clusters who are closer to your business but are unlikely to become your customers.
Gain new perspectives on the true market potential and market size of your business. Go to Spatially’s home page and enter your business’s address to see a map of your business’s Active Trade Area. Then put Spatially Ads to work for you to apply business-specific market insights to your online advertising. Expand your ability to find and reach your target audience and attract them to your business. Harness the power of spatial analytics to reach the markets that matter most to you.