Geographic market areas are always in flux. Customers are moving in and out, and the needs of those customers continue to evolve based on their telecom usage and needs.
Location-based intelligence offers one of the most accurate, up-to-date sources of information related to the telecom behaviors of your target audience. As you plan an entry into a new market, this information should be a key component of your efforts to build a go-to-market strategy and market your brand to these prospects.
Here are some of the biggest contributions location-based intelligence can make to your go-to-market strategy.
Analyzing Location Data to Understand Service Proximity to Customers
Location-based data can help telecom carriers understand carrier availability in a given location, which allows those businesses to identify markets where they want to build out their network.
Solution providers, on the other hand, can use this data to guide strategic decisions regardless of the carriers they want to develop resell relationships with. By understanding coverage availability at specific addresses—and even floors—of a building, they can identify the carrier that offers the best products, services, and coverage to maximize that company’s profit potential in a given market. Product sales and revenue growth, along with existing infrastructure, are key data points to consider in this analysis.
Lastly, agents and brokers of telecom services need to know which carriers and solution providers have access to a particular location(s). By analyzing this availability, agents and brokers can then tailor their recommendations starting with who has network connectivity.
Developing Marketing Strategies to Connect with Local Prospects
By analyzing location-based data, businesses can develop a better understanding of their total addressable market, especially when location data is combined with other demographic data. This can help develop marketing campaigns and, after launch, analyze the success of these campaigns to optimize your strategy over time.
Understanding Network Utilization
By tracking customers through location-based data, your business can identify areas where the network is being overutilized and underutilized. This can inform decisions about marketing—such as targeting underutilized networks where plenty of capacity exists—as well as decisions about how to manage those networks and/or adjust pricing based on existing network utilization.
Generating Ideas for New Products or Services in a Given Market
Local data can also be used to guide the development of new offerings to a given addressable market. Telecom carriers can figure out which products and services are in highest demand, supporting their marketing approach as well as allowing resellers to strategically work with carriers whose offerings are more valuable to prospects in that market.
Solution providers, meanwhile, should insist on being incorporated into location-based intelligence, because this puts more eyeballs on their managed and cloud-based services. Network presence, whether carrier or reseller, is a critical first step in winning any business.
Once new products and services are developed and launched, carriers and solution providers can use their market research and analysis to guide agents and brokers in marketing and selling these solutions to their local market.
Expanding Your Network Presence—and Your Business
While location-based data offers value in helping telecom businesses strategize around their go-to-market efforts, location data can also play a central role in understanding your customers’ needs over time, as well as opportunities based on local market availability and competition. While this location data is used differently by carriers, solution providers, and agents and brokers, all three of these telecom businesses benefit from the insights this data can offer.
Ultimately, the ability to analyze this data and generate insights can contribute to customer growth and retention, helping your business build a sustainable presence in those new markets.
Find out how to harness location-based intelligence for your telecom business—contact us today.