Rely On Real-time Data In Finding You The Right Space
First Published: 25 Jan 2021
Last Updated: 21 Mar 2021
The golden question most business owners are not able to answer is: “Who is your target audience?” Most often, you will get a variation of: “Oh anyone who can spend, I do not have a specific target”. If this is you, let us share with you some industry tricks!
When looking at really successful brands around the world, what is one thing that we will notice that they all have in common without fail? It is their brand commitment and marketing strategies that target a group of ‘dream customers’. They sell and target a very specific type of individual base on many factors ranging from social to psychological traits, demographical, and even physical.
So what is the trick behind the success of these brands? It is their understanding of their audience and being physically in the right space for their success.
The Trick: Data
The trick is that there isn’t actually any trick. When it comes down to it, everything falls back onto data. Data-driven decisions collected over time and processed provide deep insight into the consumer mindset and the best ways to optimize and streamline the performance of any given goal.
You may have heard of the buzzword: Big Data. What does that really mean? These are simply data points that technology has allowed us to gather from tools such as: Social Media Analytics, Google Analytics, Google keywords planner, any integrations between platforms that allow us to track clicks/data points on users directly or anonymously.
Applying Data to Finding the Correct Space
We don’t have to look far to find helpful public data that’s available to assist us in our decision-making processes! Let’s take a look at what is available in Singapore.
Here, we are going to share with you a tool for you to have a magic crystal ball with clear data from location-based services, drawing data from all relevant government agencies, to turn into clear actionable steps for you in planning where to open your next space!
This site would provide data such as:
- Land ownership and land lot information
- Population density for each town
- Population density by income group
- Population density by age group
- Population density by education
- More…
This data will guide you to locations that are more promising for your specific business based on your target audience and help you make an informed decision on getting a space in malls.
Experience the magic crystal ball of data at: OneMap.sg
Found your Area and Looking for a Space?
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