Traffic data - is it just for fuel and convenience retail?
Analyzing the patterns of passing traffic in a specific location over a defined period of time is hugely valuable for businesses; every vehicle is a potential customer.
Whilst this traffic count data is essential for fuel retailers and convenience store owners looking to invest in a new location, many other businesses can benefit from this information. Consider how a commercial real estate company could use traffic count data for marketing properties. Or how a tech company could integrate traffic data into its platform to model consumer behavior.
Many businesses need to understand potential passing trade to make key decisions on stock, staffing, opening hours, promotions, positioning, and advertising.
Which other industries can use traffic data?
Companies of all sizes and from many industries should utilize traffic data to answer a number of business questions. From Global Fortune 100 companies to small businesses, governments, and educational institutions, traffic data is a critical component to strategy planning and tactical execution.
Here are three example industries that can make key strategic decisions from the insights that are gleaned from traffic data:
1. Real estate and construction
The real estate industry isn’t only about increasing conversion rates, it’s also about creating higher revenue potential. Traffic data allows real estate businesses and construction companies to enter into better-informed negotiations on contracts and location opportunities, based on current traffic patterns.
2. Omnichannel ecommerce
With many online retailers developing click-and-mortar and multi-channel business models, understanding the best locations for collection points and lockers is essential.
Integrating traffic data insights into their online and physical location development ensures an e-retailer creates a convenient, consistent shopping experience.
Traffic data isn’t just important for understanding opportunities, it highlights risk. Travel and vehicle insurance companies can make use of traffic data to understand the risks associated with a certain location, and create accurate pricing models.
These are just three industry examples. Other businesses such as grocery stores, cell phone companies, financial institutions, government planning, and residential community projects can also make informed decisions from traffic data. Take a look at the full guide to transforming traffic data for more details.
So, regardless of what products or services they offer, businesses with access to detailed, accurate traffic counts can achieve various business goals. Kalibrate’s TrafficMetrix® is the most comprehensive, accurate, commercially available database of average annual daily traffic counts globally. Kalibrate’s biggest clients use traffic volume data for demand-based modeling, and as a useful supplemental dataset to any existing data they already have.
And the most interesting part? These clients typically operate in industries such as residential and commercial real estate development, retailers, out-of-home advertising, signage providers, network planners, and more. Request a sample dataset for your area to see the data quality for yourself.
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