Lightstone’s Kaleidoscope reflects new light on your market
The 2020s are proving to be years of lifestyle disruption – and marketing opportunity.
Tough economic conditions and political tensions accompanied South Africans into 2020 but were soon exacerbated by the Covid-19 pandemic and supply chain disruption.
Lockdowns, which were designed to curb the spread of Covid-19, impacted every aspect of life. Lightstone’s data tells part of the story, with shifts in consumer visits to shopping centres and homeowners trading down, up and to the coast as work-from-home and other lifestyle changes were accelerated.
No sooner did it appear that the world was getting to grips with the pandemic when Russia invaded Ukraine, with the world’s economy and threatened food shortages among its collateral damage – and again there is more uncertainty in the air.
All this places additional challenges on brand owners looking to get products and services to their markets – and finding out where to find your market is becoming increasingly important.
Lightstone’s Location Intelligence helps provide many answers, and manufacturers, distributors and retailers understand the potential to drive sales by directly pitching marketing spend and activity to potential customers who match the right buying profile.
Over the past decade, Lightstone’s expertise in the property industry has evolved to helping map supply chains within the geographies in which there is market potential.
In effect, Lightstone takes manufacturers, distributors and retailers behind the walls of houses and apartments to see who lives there – from age, race and sex to household income.
While Lightstone’s Footprint accesses the power of location intelligence and the latest insights on neighbourhoods and retailers, its value rises exponentially when used with other data tools such as its Kaleidoscope, which segments the market at a geographic level that is 10x more fine-grain than suburb-based measures.
In our data-rich, time-stressed world, targeting customers with what they want when they need it is essential to driving sales and enhancing customer satisfaction – and ultimately brand loyalty. Footprint, Kaleidoscope and other data-sets enable Lightstone to match marketing needs with a range of customer data-sets, from where markets live to what they drive and how long they spend at shopping centres.
Market segmentation is not for segmentation’s sake – it’s part of the modern marketing framework that includes segmentation, targeting and positioning.
What does this mean for manufacturers?
Manufacturers, distributors and retailers need to know how best to slice and dice the market if they are to cut through marketing clutter and noise and get to those who are a match. Brand positioning is as much about market positioning as it is about location positioning, where distribution is informed by the geography of different markets.
The once widely used LSMs are no longer maintained to measure or track segmentation, and the country has moved beyond a simple 1-to-10 measure of where people should be segmented.
Kaleidoscope has 19 segments representing South Africa’s diversity, and allows a user to filter and query the data to find clusters and pockets of opportunity.
Lightstone builds Kaleidoscope from trusted demographic sources such as DemProKey (which drives the insights in Footprint) as well as up-to-date property data across millions of datapoints.
No one dataset aims to answer all your questions, so Kaleidoscope can be paired with Footprint, with your own customer points, and any other map in Lightstone Explore Online.
If you would like to explore how Location Intelligence can help your company capitalise, please contact Lightstone’s Location & Commerce team at info@lightstone.co.za.
About Lightstone
Business is complex. Making informed decisions shouldn’t be.
Established in 2005, Lightstone is part of the HL Hall & Sons Holding Group. Lightstone is the leader in providing information, valuations and solutions that enable better business decisions for Lenders, Financial Institutions, Banks, Fintechs, Insurers, Dealerships, Motor Body Repairers, Estate Agents, Brokers, Advisers, Valuers, Property Professionals, Municipalities, Commercial Experts and the Motoring industry all trust Lightstone for information solutions, all in one place.
Businesses and industries that need property and automotive information get:
Access to analytics and products to simplify processes, make informed decisions and solve business problems.
Intel with data solutions that create shared value
Solutions
that provide market and customer understanding to help manage risk and enhance decision making
With a team of about 300 skilled experts, Lightstone is constantly innovating to simplify your business processes and bring you rich property and automotive data and solutions. When you "Lightstone" it you can expect – solutions that help your business help your customers. To find out more, visit our website https://lightstone.co.za/index or connect with one of our property or auto experts on info@lightstone.co.za.