Geocoding and its Benefits for Businesses
To understand the concept, let us take a quick example – if we want to ascertain a destination, the basic requirement is a comprehensible address. This is clearly defined in terms of a street name, lane number, and so on. In the same way, a system understands addresses in a certain pattern of latitudes and longitudes. So, in order for the addresses to be fed into a system, they must be converted into the language that the system understands. The process of converting addresses into numerical coordinates and representing them as latitudes and longitudes is called geocoding.
How does geocoding benefit a business?
Geocoding addresses enables people to visualize the physical locations of the addresses they are dealing with, on a map. It can impact the revenue of a business as it leads to better targeting and strategic planning. It enables businesses to not only visualize but also analyze the success of their marketing strategies, tap the demographics of their clients and prospects, and track their assets. This, in turn, results in better and more targeted campaigns, better selection for warehousing and retailing, and niftier ways of reaching out to the intended audience.
Here’s a more detailed summary of how businesses can reap the benefits of geocoding:
Accuracy and Consistency
In geocoding, the chances of addresses being incorrect are drastically reduced. Since it’s done by machines – it eliminates the risk of human mistakes. Mapping the geocoded results lets businesses target more specific customers, within the same geographical area. The road networks keep changing, but since geocoding uses latitudes and longitudes, these changes don’t affect the representation of the addresses. This ensures a consistent and clearer display of any and every location fed into the system.
Customers and Audience
Geocoding enables businesses to not only serve their existing customers better but also acquire more customers by following a structured sales and marketing approach. Using the geocoded results plotted on a map, representatives can plan their trips in a more productive manner by combining all the meetings in the same area together. Additionally, businesses can plan their events at the ideal venues, with insights from a geocoding solution that they may use.
By identifying their growing customer bases, companies can invest in appropriate locations – for warehousing, setting up retail stores, installing mobile phone towers, and more.
Map Plotter Premium – a native Salesforce AppExchange solution – enables its users to visualize all their Salesforce data on a map, with the significant advantage of geocoding. This isn’t all, there is much more that this app offers – take a look at mapplotter.extentia.com.
Marketing Manager, Extentia Information Technology