Mapping: Know Your Neighborhood
There are lots of reasons to study your practice’s neighborhood. Is its demographic profile changing? If so, that should affect everything from your marketing to your merchandise. Are there more or fewer businesses there than five years ago? What’s your reach? What about housing, and how does that reflect your neighborhood’s economy?
Tip: Join in. Look to see if there are any block or neighborhood associations. Their mere existence tells you a lot about the area.
These are all questions to which you need answers. Fortunately, there are several easily searchable sources that can help.
• Access Census Bureau info at data.census.gov, where you can build customizable maps pinpointing your neighborhood and access profiles of zip codes, counties, and even places.
• Get to know your local chamber of commerce. Want to know more about the local business landscape? Join your area’s chamber and get to know who else is vying for retail dollars nearby.
Are there more or fewer businesses in your practice’s neighborhood than five years ago?
• Track the traffic. If you are looking at a location, remember that “even the side of the street you are on can make a difference,” reports Wolters Kluwer. Also check out foot and vehicular traffic numbers (wolterskluwer.com/en/expert-insights/evaluating-the-neighborhood-when-choosing-a-business-facility): “If you are on a street where most of the commuter traffic goes one way in the morning and the other way in the late afternoon, you’ll probably do better with a location that’s on the side of the street that best suits your business.”
• Who’s where? There’s a lot to learn about a potential or current location. That includes population trends and stats on income, age, and schools.
• Park here…or not. If you don’t have enough parking, the local building department may deny requests for expansion. That’s just one good reason to check with the local building department to make sure the location is zoned for your business use and whether there are any parking requirements for the area.
• Join in. Look to see if there are any block or neighborhood associations. Their mere existence tells you a lot about the area. And, if you’re looking to expand your current reach, don’t forget special interest groups, especially parent groups. Consider a small discount for the members or even offer to speak at an upcoming meeting about eye care and eyewear.
You might not be like late business magnate Sam Walton, who piloted his plane to scout out new areas for business expansion. You do, however, have access to a lot of free and low-cost information about your neighborhood. Research your area and then tap into local affinity groups. That dual approach is definitely a win-win.
What approaches have you taken to tap into your neighborhood? Tell us about it and share in the conversation on Facebook here.
