Pluckers Finds Their Target Customers After Switching to IdealSpot
Pluckers’ location growth was constrained by their inability to get comfortable with new and unfamiliar markets. Their broker’s interests weren’t aligned with theirs, and they didn’t trust value-add service providers to fill-in their knowledge gaps.
IdealSpot, through better data and insights, helped them get more comfortable with new markets by helping them understand the demand for their product/service in their targeted cities instead of relying on, according to them, “fortune telling”. They are now fast-tracking their growth plans.
- Since subscribing with IdealSpot, Pluckers has plans to add another 6 locations over the next 24 months – a 25% increase in the number of locations
Real Estate Brokers & Stale Demographics
Relying on Brokers or Expensive Consultants
As Pluckers has grown, it had taken them an increasing amount of time to get comfortable with an area and make confident location decisions. In order to quickly familiarize themselves with an area, they turned to brokers and expensive consultants to fill their knowledge gaps.
A broker’s incentive is based on the leasing of a location and they claim to be able to predict success or revenue at a location. Pluckers put this to the test. They provided revenues from half of their locations and asked for performance predictions for the other half. No company was able to consistently predict location performance.
Pluckers has successful locations near college campuses, older downtown districts, established retail corridors and blue-collar neighborhoods. Simply put, there is no single demographic profile that Pluckers can use to find and evaluate locations. Relying on a single demographic profile to find ideal locations limits Pluckers’ options and slows their growth.
Demographics only tell you WHAT people look like, not WHO they are and what they enjoy. It tells you things like age, ethnicity, and education level but can’t tell you who likes wings, who visits sports bars, or who enjoys drinking a few beers with their friends while they watch the game. Demographics also only counts where you sleep, not where you travel, and not where you meet with friends to unwind.
Switching to IdealSpot
IdealSpot maps actual purchase intent for products and services – in real time, across the US. This provided the owner of Pluckers, Sean Greenberg, with critical insight into WHO wants wings, WHO likes sports bars, WHO likes fast casual dining and WHO likes to drink beer with their friends during the weekend. Now, Pluckers can focus on maintaining their high level of quality of service and not obsess over whether neighborhood “A” is more ripe for their products and service than neighborhood “B”. IdealSpot has the answer.
Sports Bar Demand in Austin, TX on October 2016
According to Sean, “IdealSpot gave us the ability to quickly evaluate new markets and potential locations. By helping us understand who wants our product, and where these people are, on-top of the basics like demographics and traffic counts, we were able to quickly evaluate opportunities in new markets and make confident site selection decisions.”