How MarketTime supercharged retail reporting with hyperlocal demographics data
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– Challenge: MarketTime’s dataset needed census data, which limited its ability to offer sales agencies and brands valuable insights about the locations of their customers (retailers).
– Solution: The company integrated Local Logic’s Demographics API into mtView, its Tableau-powered dashboard, enabling sales agencies and brands to gain detailed insights on income and education levels.
– Result: MarketTime successfully enhanced its reporting and analytics capabilities by leveraging Local Logic’s hyperlocal data solutions, which enabled its customers to better understand their clients and increase B2B sales.
The current economic volatility presents businesses with unprecedented challenges — but also unique opportunities. Companies have access to more data and technology than ever before, which allows them to make more informed decisions and quickly adjust to changing market conditions. They can also take advantage of the volatile economic environment to make investments that will help them get ahead of the competition and succeed in the long run.
Using Local Logic’s location intelligence solutions, MarketTime augmented its own data with demographic insights, including income and education levels, to help sales agencies and brands optimize their strategies, ultimately boosting their bottom line.
Company — MarketTime provides sales agencies and brands with access to a suite of wholesaler insights and actionable reports
MarketTime is the technology platform of choice for B2B sales organizations around the world — providing commerce solutions that unite retailers, brands, and sales teams. The company facilitates over $5 billion in orders annually for more than 300,000 retailers, with 350 sales agencies, 7,000 sales representatives, and 6,500 brands utilizing the platform.
With MarketTime, stakeholders have access to a fully integrated cloud-based application that meets three key requirements:
- Providing buyers with an easier way to discover and order products
- Organizing and sharing information for sellers in an intuitive and secure way
- Saving time and money for all ecosystem participants
With mtView, a powerful reporting solution powered by Tableau — one of the leading Business Intelligence tools in the world, MarketTime provides brands and sales agency staff with detailed insights that enable them to make data-driven decisions and offer valuable information to their customers and partners.
mtView by MarketTime
Through mtView, MarketTime is able to enhance its analytics and reporting capabilities by giving its customers access to a suite of wholesaler data, packaged neatly into actionable reports including product, customer, salesperson, vendor, commissions, and invoice analysis.
Challenge — Enhancing wholesale reports with comparative national census data
MarketTime provides sales agencies and brands with sophisticated and meaningful insights into their wholesale business. The SaaS company, however, was missing a crucial component: national census data. Sales agencies and brands need this information to understand the impact of location on their business and to identify buying patterns. Therefore, MarketTime sought to enhance its Tableau-powered reports with demographic insights and offer its customers a more comprehensive understanding of their markets.
MarketTime’s dataset only included its own customers’ data, which is limited to order data from retailers buying from sales agencies and brands. To empower the latter to ask questions and find sales opportunities that, in the past, were nearly impossible to determine, MarketTime needed to supplement its in-house data with more robust insights offered by Local Logic’s dataset.
In order to gain new insights and use them to increase revenue, sales agencies and brands need access to relevant data, which includes census data and proprietary Location Scores.
Lack of comparative data
MarketTime’s main challenge is not having enough data to compare their customers’ data with. The company wants to benchmark its customers’ data against census data in the areas they sell in, which would allow the latter to get a better grasp of sales trends and adjust their strategy accordingly.
Solution — Local Logic’s precise location intelligence solution delivers actionable insights into demographics
Having heard of Local Logic in his previous role at a real estate investment firm, Jacob Teplin, COO at MarketTime, trusted the location intelligence company to provide MarketTime with the data it needed.
MarketTime’s partnership with Local Logic is its first foray into enhancing data with a third-party provider. With mtView, MarketTime incorporated Local Logic’s insights and demographics data into its Tableau-powered dashboard to help sales agencies and brands gain a deeper understanding of the markets in which they sell.
Demographics data provides localized information on income and education levels
Local Logic delivers unmatched clarity and actionable insight into the built world. Our unique location dataset of 75+ billion data points allows us to provide predictable, precise analytics for 250+ million addresses across the U.S. and Canada.
Our Demographics API is widely used by customers. The dataset contains robust information about the population anywhere in the U.S. and Canada. It is organized by categories, such as income, population count and age, and education level.
Income and education levels within mtView’s Retailer Analysis
Using this demographic data, MarketTime offers its users a breakdown of their customer base by displaying the income and education levels for the areas in which their retail customers’ stores operate. Sales agencies and brands can use these insights to answer precise questions, such as:
- Which products sell better in higher vs. lower income areas?
- What is the percentage of retail customers located in quiet suburban areas vs. vibrant urban areas?
- Are there certain characteristics of a store’s location that predict which brand categories sell best?
- Are stores located near specific points of interest buying different products than those located elsewhere?
“MarketTime used Local Logic’s Demographics API to map income and education levels against the retail locations of our users. These insights gave our users a big value-add from our reports by layering in demographic data that we did not have access to prior to working with Local Logic.”
— Dock Mackie, VP Solutions Engineer at MarketTime
Results — MarketTime bolstered its reporting and analytics capabilities with enhanced demographics data
Through hyperlocal neighborhood data and the implementation of Local Logic’s APIs, this partnership yielded:
– Better user experience for MarketTime’s clients in the retail space
– Enhanced reporting and analytics capabilities
Ease of integration with an existing platform
One of the things MarketTime enjoyed most about this partnership was the integration process. Local Logic’s unique solutions are easy to implement and use, which minimizes the learning curve and keeps training time at a minimum.
By using Local Logic, MarketTime can easily access and connect to demographic data in Tableau, reducing its development team’s workload and simplifying the process of extracting meaningful insights.
Delighted customers gain actionable demographic insights
Even early in the implementation, MarketTime’s customers are already raving about the data they are receiving.
Sales agencies and brands want access to data that matters to them — data that helps them better understand their customer landscape. MarketTime was able to provide their clients with demographic data from Local Logic, which helped them find opportunities to increase sales.
Access to meaningful location insights empowers sales agencies and brands to make more confident and informed decisions about identifying revenue-generating opportunities and where to allocate resources, thereby protecting and increasing their bottom line.
A collaboration with Local Logic allowed MarketTime to:
– Bolster their existing datasets by layering on additional demographic data
– Deliver valuable insights to their customers
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