Going somewhere new always begins with a search. Whether finding the latest store in the city or the nearest available gas station, your users will look for – and appreciate – to find the POI location data they are looking for online.
What is POI Data?
Points-of-Interest or Places-of-Interest is a particular physical location that most people may find interesting. Restaurants, grocery stores, retail stores, charging stations are a few examples of Points-of-Interest. Since the term is a mouthful, it is frequently abbreviated as ‘POI.’ POI data comes into action when you think about site selection or decide where to put your store or facility. ‘Location’ plays a significant role in any business. LocationsXYZ by Xtract.io is a vast POI database that consists of 5M+ location data.
The location has an indispensable role in attracting customers and employees who need a work-life balance, according to JLL. And when you know where your business should be located, you are already a step closer to growing your business.
The role of POI data and its significance
POI data is often considered a vital part of advertising, marketing, and more as business growth and development depend on its geographical location, among other factors.
But why is it essential to your business? The direct benefit of location data is that it provides the facility to deliver real-time targeted advertising. For example, if you know that a person is in a particular relevant location – say inside one of your stores or proceeding to a town that you have a presence in – you can instantly deliver customized messaging that has a higher probability of resonating with the person.
How can POI data help in business growth
Location data is the key facilitator to providing you with real-time insight into your intended business. Such data offers you an in-depth understanding of consumer’s demography, their interests, as well as their location. These added insights can help reveal important information like daily routes, commutes, and more so particular types of content that they prefer consuming on a day-to-day basis. Loaded with such data insights, your business can continue to grow based on their current business intelligence.
A deeper understanding of consumers will aid you in making better business decisions while improving your competitive appeal with marketing solutions aimed at defined customers.
Let’s elaborate on 10 ways POI data can help you boost your business sales
- Get the right insights: Before starting a business in a particular area, aspects like hospital facilities, stores, banks, restaurants, schools, or colleges must be considered seriously. Polygon diagrams of these aspects with geocoding details like latitudes and longitudes help understand the location even better. Thus, POI data enables you to get an idea of the geographic location with all the minute information to develop your business.
- Analyze the risk factors: Identifying possible threats is a must before you start a business. Insufficient POI data could identify the wrong site and customers, leading to falling in any risk like any natural hazards, including flood, landslides, fire, etc. Therefore, accurate POI data helps you know the right whereabouts with all the possible outcomes preventing you from facing future issues.
- Know the location demand: “Where there is demand, there is supply.” So, understanding the market opportunity and people (customers) in a particular location ensures that business investment decreases the expenditure and increases the revenue in the future. A detailed vision and understanding of the location help you attain and retain the customers in the long run.
- Target Advertising: Creating geofences around the location can trigger sales through ads or messages when a customer is in the geofence around the predefined location. POI data enriches customer experience by fast messaging the discount coupons or promotions to the customer, adding to the sales rate and customer satisfaction.
- Get the right information on the assets: Having a clear understanding of all the properties like land, building, and other assets in a specific location are essential things to consider. POI database helps you get the right information about government and non-government assets with their names, pictures, and exact geographical location.
- Understand the competitors: Knowing the competitors is a wise step before you step in to establish a business. Here, POI data plays a significant role in gathering the right insights from the competitors’ store locations data to plan the next tactical business moves.
- Plan ahead for expansion strategies: A geocentric location’s POI data enables the business’s expansion considering the competitors, and the customer demands. Unavoidable factors like location flexibility and availability of specific mandatory resources are considered for the expansion and venture’s smooth running.
- Know the customers: Knowing the customers is a mandatory requirement in all industries. Not just knowing them, but also their interests and needs are inevitable. Getting the right audience at the right time with the right demand product is an advanced step for any business development. POI data gives you the right insights on where people visit in a day, their nature, interest or needs, and the different modes to reach them.
- Communicate with the customers: Have you wondered what people talk about your business? No? See why that is important. Consistent communication with the customers can help you get to learn more about their interests and behavior. Therefore, keeping constant contact with customers makes the process easy and smooth. POI data of customers can keep the business run high as their interests change frequently.
- Stay ahead of the trends: “Sometimes you just have to go with the waves” is the right quote for any business. Updating and staying with and ahead of the changing trends is mandatory to sustain in the business war. POI data help you know the new direction to march a step forward with the changing season.
From hotel chains to grocery stores, from brand outlets to malls, POI data can answer some of the most important questions users search for in a location-built application and help them with decision making.
Learn more to know how our location intelligence solution helped an IT solutions and services company identify several restaurants’ data points and successfully penetrate into Asian Markets.
Redefine your business with our POI solution
We understand the importance of location intelligence for your business and provide 95% accuracy through automated geospatial data aggregation and manual quality checks. Our solution includes 5 million POI data that provides for food and dining, automotive, retail, healthcare, banking and finance, sports, and so on. We help you analyze the challenges and implement step-by-step solutions for your business.
With our solution, you get information on the key attributes like amenities, company names and websites, addresses, city, state, country code, email, contact numbers, and more. We provide you with POI data off-the-shelf and on-demand in your preferred style or format. Our solution gives you refreshed data to stay up-to-date and adapt solutions that lead the customers to visit your store. Woo-hoo!
Need to know more about our solution? Request a demo here and check out how it works.
2 Comments
Forecasting retail traffic has immense benefit and can make a difference in the long-term success of a retail store. Store data is just one side of the equation. The other way to approach retail POI and geospatial data collection is to track customer journeys and behaviors.
Thank you for reading and sharing your thoughts.