In the digital age, information is power. That’s why billions of dollars are spent every year across the globe on collecting and selling data.
For most businesses, the right information is the difference between success and failure. The more data businesses have in relation to their customers, the easier it is for them to target the right audience and boost sales.
So, in this post, we will be showing you how geocoding can be of great help to business owners in this regard as well as some amazing benefits it offers.
But before we dive right in, you should know that for businesses to successfully use geocoding in their daily operations, they need to partner with a reputable specialist, such as egon.com.
What Exactly is Address Geocoding, and How Does it Work?
Imagine having a postal address, or even just a postcode, and being able to turn it into precise coordinates on a map. That’s what geocoding is.
The software can instantly convert any address into longitude and latitude coordinates and illustrate exactly where that is on a map.
Geocoding software consists of a huge database with many data points already inputted. It’s these that allow the software to accurately provide map details and display the location on a map if required.
Benefits of Address Geocoding Software
It may sound like fantasy but it’s not, the software can handle everything for you. It simply needs to be connected to your current customer data system.
Once the software is connected, it can even offer geocoding services across your website, to your customers!
There are several benefits to using address geocoding software. Let’s quickly talk about a few of them.
#1: Customer interaction
There are many businesses which allow customers to search for services in a specific area. For example, a specialist store may want its customers to be able to locate the one nearest to them.
Geocoding makes this possible by simply pinpointing their location on a map and highlighting where the closest stores are.
Equally, businesses like estate agents have customers who want to search for properties in a specific area. The software allows them to enter a postcode or general location. It then uses the coordinates of properties listed for sale, (or rent), and shows them to the potential buyer.
It’s not just showing them potential properties, it also indicates where they are on a map. This makes it much easier for customers to decide if it’s in the right area for them. They can even use the information to do further research via Google Street View!
#2: Identifying location-related trends
For businesses, address geocoding offers a way to identify customer trends and cater for them. By getting customers to enter their addresses, the business can create a log of where they are and what they buy.
Address geocoding software can then use this information to see where customers are coming from and if customers in specific areas are buying similar products.
The business can leverage this information to offer the products these customers want. They can also promote the products to existing customers at a discount, illustrating they understand their customers and encouraging loyalty.
#3: Ability to target potential customers
Some businesses need to target their services or products to specific locations. There are several reasons why this may be the case, such as providing a service that can only be used in a specific location. This is particularly relevant for smaller businesses offering a personal service.
Geocoding software allows potential customers to register their interest and the software will identify if they are in the right zone and worth following up.
Equally, businesses can track current customers and the products/services they use. This allows them to identify specific locations which are more likely to use certain products. The business can then target these areas with product advertising and even discount campaigns.
The campaign will reach potential customers who are likely to already have an interest in the products/services on offer. It’s a cost-effective way to boost customer numbers.
#4: Improved decision making
The more data business management has, the easier it is to make the right decision and deal with issues. This type of software is instrumental for businesses to ensure they make the right decisions.
For example, when looking to expand geocoding can help you target the right audience. Or, if you’re looking to cut costs, geocoding can tell you which products you can afford to produce less of. The software can even highlight which areas are furthest away and cost the most in delivery.
#5: Address checking
Geocoding software is the perfect way to confirm someone’s address is valid, effectively reducing the likelihood of parcels being sent and not delivered. This can cost a business a significant amount of money and damage its reputation.
This software can also help businesses plan delivery schedules to maximise efficiency and minimise costs. This improves customer satisfaction which is great for your reputation and future business.
The real question isn’t what is address geocoding, it’s why haven’t you installed this software yet.
