3 Examples of how RPR’s Commercial Site Selection Tool can Determine Customer Spending Potential
Imagine this: Your client has a fantastic business idea but is unsure where to set up shop. The perfect location can make all the difference between a thriving enterprise and a struggling one. That’s where your local market knowledge and RPR’s Commercial Site Selection tool become invaluable.
This data-driven tool streamlines the site selection process, providing the precise insights needed to guide your clients toward success. Here’s a simplified breakdown of how it works:
RPR’s Commercial Site Selection tool eliminates guesswork, enabling you to make strategic, data-driven decisions that set the stage for business success.
Let’s explore three examples of how this tool can be applied to different business types:
How to Use Attributes vs. LifeMode Groups
When using RPR’s Commercial Site Selection Tool, you can refine your search based on either specific attributes or broader LifeMode groups:
- Attributes like age, household income, and education level allow you to target precise consumer demographics, focusing on very specific traits.
- LifeMode groups are broader categories that capture a comprehensive view of neighborhoods based on combined socioeconomic and demographic factors. For instance, you could choose LifeMode 1: Affluent Estates, which includes segments like Top Tier and Professional Pride, each representing distinct types of affluent households.
Note: You can select up to five attributes in total, including LifeMode groups or specific attributes. Using a LifeMode group counts as one of your five, but gives you a richer, multi-faceted profile of your target audience.
1The Cozy Corner Coffee Shop
| Target Audience: Young professionals and families seeking a welcoming atmosphere. They value convenience, quality and a sense of community. |
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Target Consumer Segmentation (LifeMode Group):
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RPR Site Selection Criteria:
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2The Trendy Boba Tea Franchise
| Target Audience: Young adults and teens drawn to unique and Instagram-worthy experiences. They value affordability, convenience, and a sense of community. |
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Target Consumer Segmentation (LifeMode Group):
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RPR Site Selection Criteria:
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3The Expanding Medical Group
| Target Audience: A diverse population, including growing families and seniors, prioritizing quality care and convenience. |
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Target Consumer Segmentation (LifeMode Group):
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RPR Site Selection Criteria:
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How to access and utilize RPR’s Site Selection tool
Simply go to narrpr.com and switch the toggle to “Commercial.” Then, from the navigation menu, under Research, choose Commercial Site Selection. Next, choose your search area and apply your spending and demographic attributes (up to five per search) to zero-in on that powerful spending power.
Whether your client is opening a cozy coffee shop, a trendy boba tea franchise or an expanding medical practice, RPR’s Commercial Site Selection tool empowers you to pinpoint the locations with the highest spending potential. By leveraging this data-driven approach, you can help your clients make informed decisions that lay the foundation for a thriving business.
Remember: These are just examples. The tool’s flexibility allows you to tailor your search to any business type, ensuring your clients find the perfect location to connect with their ideal customers.
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