Real Estate Data
Analyze foot traffic patterns, find your next store location, discover new consumer insights, and improve operations with location intelligence.
Targeting ideal buyers in the real estate industry is no easy feat. Location metrics, however, remove much of the guesswork involved in making commercial real estate data decisions.
There is intense competition for available properties. So, how are real estate companies utilizing location intelligence to their advantages? Data is utilized to unearth the following complexities:
Foot Traffic Analysis
Real estate data allows professionals to gain real-time insight into foot traffic patterns. Did a nearby store renew their lease, or a major employer let employees work from home?
Location intelligence gives experts the advance notice needed to investigate potential properties. The ability to detect any changes in occupancy early on lets real estate professionals stay more agile, proactively investigate, and quickly react to change.
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One must gauge foot traffic and consumer profile information for potential sites. Since location data reflects the true behavior of mobile users, it is the most accurate data available for use in these analyses. Thanks to visitation data, it is easy to understand visit frequency and loyalty, and we can plot trade areas based on these data points. Clients no longer need to rely on outdated modeling approaches based on spending potential.
A major goal for real estate professionals is to reduce tenant turnover and increase the average length of a lease. Understanding consumer interests lets them lease to tenants that are well-suited to their property.
The most successful real estate data development projects match offered services and products to local consumer needs. Traditional analysis identifies ideal customers based on demographic factors like income, marital status, house value, or the presence of children.
However, demographic data is often too generic and does not reflect preferences, interests, or affinities of prospective buyers. Two families in the same neighborhood, with the same income, similar houses, and the same number and age of children are likely to value different products and services, and have different spending priorities. Since Gravy’s data is based on demonstrated interests — on the places people visited and events they attend — it is well suited for market analysis.
Leasing and Marketing Operations
Real estate professionals’ main priority is to increase sales and marketing effectiveness. They can enhance a property’s profile with in-depth, local consumer data that includes interests and life stages.
Gravy’s insights on personas — data that summarizes the movement patterns of mobile devices in the physical world — can help these professionals understand the behavioral profile of consumers.
CASE STUDY: L’OREAL
Learn how L’Oreal increased ROI by 320% by leveraging Gravy’s location intelligence to better targeting women in New York City with an interest in beauty and fashion.