As you know, the more criteria you have, the more challenging it is to find a great fit for your needs. It's the same principle when finding the next great spot for your business! If you're thinking about opening up a new branch, looking for the next place to sell your product, or just want to analyze your current locations - in the CleverMaps environment, we call this solution the Exposure Index.
What is Exposure Index?
CleverMaps' Exposure Index can help you find the perfect place where your business will get the exposure that it needs. Exposure Index is the perfect tool to help you decide where to expand your business. It's a combination of many different location-based factors that rates the desirability of a location. In other words, it helps you to understand the importance of any place based on parameters such as: the presence of important POIs (banks/ATMs, administration facilities, shopping centers, transportation hubs, schools, hospitals and healthcare providers), dining and leisure opportunities, traffic density, and even the movement of people. If this sounds overwhelming to you, don't worry! We keep the perfect list of location factors and afterwards you'll have an easy-to-read heat- and dot-map showing you the ideal places for you to expand. Afterwards, adjustments to the weight (i.e. importance) of each location parameters can be made to further narrow-down your ideal location.
How exactly can Exposure Index help my business?
Some of us are visual learners, so let us show you how all of this works in practice. Let's say that a big bank, which operates across the entire Czech Republic and is looking to add a new branch. It looks at a map of the Exposure Index across the Czech Republic and (unsurprisingly!) it seems that Prague is showing up as a hot spot. As you can see, CleverMaps can also display your existing branches, shown here as green and orange markers. Based on that, you can find the optimal location for your new branch.
Ok, so we've been able to confirm that Prague is the city that we want to open a new branch. We've checked the exposure, and we see that the city can support another branch. Now we do a more targeted search within Prague, looking for which parts of the city offer the highest Exposure Index. As we increase the granularity of the search, we find what looks to be an ideal location for a new branch. This spot looks promising...
... but maybe we can do better? Let's adjust some of the filters to make sure there isn't any better location.
The best way to learn is to practice!
To allow you some hands-on experience, we have created an Exposure Index Demo, just for you! The location is Prague. We've provided real POIs and data to calculate Exposure Index, but the markers representing shops are fictional. You can log in and check out the demo for free 👍