“The three most important things in retail are location, location, location. The three most important things for our consumer business are technology, technology, technology .” – Jeff Bezos
What Location, Coffee Shops, and Sabertooth Tigers Can Teach You About Landing More Paying Customers
10,000 years ago, the world was a much more dangerous place, and so we formed tribes to protect ourselves from starving to death, becoming a tiger’s next meal, or being attacked by neighboring invaders.
As these tribes grew, they began speaking in the same tongue, eating the same foods, enjoying the same things and sharing the same beliefs –– thus culture was formed.
Today we no longer have to worry about being eaten by a sabertooth. In fact, for most of us, our biggest daily concern is successfully hunting down an elusive Wi-Fi password.
Yet, regardless of the fact that the world is much safer than it once was, we still find ourselves forming tribes… a phenomenon that is extremely important to be aware of if you are a marketer or business owner.
Why tribes matter for brands of all shapes and sizes.
Location data and analytics are helping businesses grow in a number of ways, from forecasting the ROI of new opportunities to helping marketers better understand their customers. With location insights, business owners are able to create strategic marketing plans and maximize their ad spend with confidence and ease.
No longer do companies need large GIS (geographic information systems) teams to tap into the value of location intelligence, as innovations in data aggregation and analysis have democratized much of what previously required a specialized data science team.
Savvy business owners are positioning themselves to be ahead of the mark by utilizing location data to create a competitive advantage for themselves and make better business decisions with fewer risks.
At Spatially, we talk a lot about location. We talk about location in terms of local advertising and where your ad spend will see the greatest return. We talk in terms of site selection and the role of location in brick-and-mortar retail. And, we talk in terms of city planning and the importance of using location intelligence to decide where to build that next park or other public good.
Yet, none of these conversations are truly about location. We’re not talking about a particular place or position, nor are we arguing that any one set of coordinates is superior to any other. We’re talking about the people behind the coordinates.
Location is a lens through which you can gain a new understanding of people. It’s a way of categorizing individuals based on where they live, where they spend their time, and how they interact with the physical world.