Location intelligence: a tool to drive your commercial real estate investments
Location intelligence is becoming essential in real estate companies all over the world. Business owners and investors are now using geolocation data to have a more thorough understanding of retail shopping and the evolution of the market after the pandemic. To improve the quality of your investments, you need to make data-driven decisions and possess precise data, especially in an increasingly competitive market.
Learn how location insight can drive your commercial real estate investments:
Location intelligence: How to include it in the site selection process?
To increase your return on investment, identifying the right location for your next asset is critical. In commercial real estate, the location of your site will define which type of business will occupy it. By using location intelligence you can establish what kind of business will benefit from your future asset.
Considering factors such as footfall, competition, and sociodemographic profiles is essential in the selection process. With geolocation analytics, you can leverage all these elements before buying a property in a specific area. For instance, if you want to purchase rental properties and then find restaurant tenants, location intelligence will help you select the best locations designed for this kind of business. As an investor, you will make better and quicker decisions by having the right data at the right time.
As you already know, avoiding risks is one of the most important aspects of your plan when building a real estate strategy. However, sometimes, it can be hard to anticipate problems and adapt your strategy accordingly. That’s when location insights come in handy. With data analytics tools like Mytraffic, you can identify trends and patterns in different areas and specific addresses. For example, you can analyse the impact of the pandemic on each potential asset using our historical data. In this use, you can identify which areas have recovered from the pandemic and which haven't, so you can select the ones that will be most profitable.
Use location data to evaluate the performance of your assets
Evaluating the performance of your current assets is one of the best ways to increase your return on investment. Indeed, identifying the factors which make your existing assets perform well or not is crucial. This valuable information helps you make better investment decisions. If you know what makes your current investments so successful, you’re more likely to use the same criteria for your next ones.
In order to make your current assets more profitable, you need the right tools. With footfall data, you can explain your assets’ performance and understand if they are directly related to their number of visitors. Plus, location analytics tools like Mytraffic let you compare locations from your portfolio and your competitors’ locations.
For example, if you’re currently managing a shopping centre in the Greater London area. In that case, you can compare metrics such as footfall, sociodemographic profiles or even the catchment area with any competing shopping centre of your choice.
Promote your commercial properties with precise location data
One of the challenges of making your commercial real estate investment profitable is to attract brands and businesses. To attract tenants, you need to prove that your properties are commercially attractive and will make a business thrive. Today, location intelligence helps thousands of property managers promote their assets to the right audience. Learn here how they succeed using footfall data.
When you possess precise and objective information about a location, convincing brands and businesses to rent your property becomes instantly easier. You can show why your property is the best fit for their business and justify the rent by including accurate footfall in the equation.
Not only will this show demonstrate transparency towards your tenants, but it allows you to target the right businesses. For instance, if you know that one of your locations is more crowded on Saturdays and mainly visited by young women between the ages of 18 and 35, you can target women’s clothing brands or cosmetics. Again, the goal is always to help you invest your time and money wisely.
Another benefit of location analytics is how it allows you to attract visitors to your locations. When your goal is to manage assets and make them as profitable as possible, bringing visitors and potential customers is non-negotiable. Footfall data helps you build a solid and targeted geomarketing strategy.
A platform like Mytraffic will provide you with the exact catchment area of your properties and show you the evolution of this area. In other words, you will be able to tell where and when your commercial properties are losing or winning visitors. As a result, building campaigns and implementing marketing actions will be easier and quicker.
Mytraffic: The right location analytics tool for your investments
Mytraffic is a data analytics platform that gives you location insights on addresses all over Europe. Today we help investors in many industries make informed decisions to maximise their profitability.
Our platform can help you:
- Assess the potential of an asset
- Optimise your investment strategies
- Benchmark against competitors
- Identify opportunities and threats
- Target and convince brands
Example: Footfall data on London Road
Example: Visitors' profiles Westfield Stratford City Vs. Meteocentre