For Canadians, the summer marks the return of a time-honored tradition – cottage season. It’s a chance for Canadians to flock to the lake country, soak up the sun, have fun on the water, and maybe enjoy a nice cocktail, or a glass of wine.
Every fall, students return to campus. University towns are inevitably shaped by their student population. Bars, clubs, and other establishments often cater to returning students who may want to share a few cold ones with their friends.
For alcohol brands, these seasonal shifts represent an opportunity to boost sales. However, how do you know exactly what locations, and what customer demographic to prioritize? The answer is simple – geographical analytics. What exactly is geographical analytics and how can you use it to grow your business?
What is Geographical Analytics?
Geographical analytics is a term used to describe location-based data analysis. Other names for it include location analytics, geolocation, or geographic analysis.
In reality, these terms describe the same concept: applying geography to your business processes to gain analytical insights. Geographical analytics contextualizes your data and uncovers insights based on geographic location. It is most commonly used for sales and supply chain data, adding a new dimension to show the flow of items in a particular geographic area.
Benefits of Geographical Analytics
Strengthen marketing campaigns – Ever feel like you’re throwing marketing dollars down the drain? With geographic analytics, you have insight into where your target audience lives and travels, allowing you to determine where to allocate your marketing budget best.
Reliable seasonal demand forecasting – Depending on the season, your product may be in greater demand in a particular area. Think back to our cottage season example. During this period, the influx of vacationers causes the demographics of the region to change. With the help of geographic analytics, you can anticipate this change, and better align your product forecasting with the seasonal demand of the area.
Proactive decision-making – Geographical analytics provides the data to support you in your decision-making process. You can be proactive, and organize your sales efforts in advance around key geographical factors. For instance, you can use geographical analytics to compare university towns in a region. It might enable you to see how the consumption of your value-based vodka varies to see if your current supply matches the demand.
Boost Your Alcohol Brand
Visualizing your data and understanding its relation to any other location is incredibly powerful. Geographical analytics inform decisions about when and where to market and sell your product. Last Call Analytics provides world-leading analytics for the alcohol industry. To learn more, request a demo of Last Call Analytics today!