LocationLab

LocationLab®

LocationLab bank market charts

Site Optimization

Entering a new market with an established competitive set requires locational advantages. Convenience amenities drive market penetration success. The Long Group’s LocationLab® reveals the convenience standards established by the existing competitive set and evaluates various site alternatives to define an appropriate means of market entry.

  • Plots customer traffic to the location.
  • Defines the geography that the location primarily competes for business (geo-fencing).
  • Conducts a comprehensive and anonymous tour of the market to catalog available real estate and competing bank and credit union locations.
  • Benchmarks the competitive convenience standards established by the existing market set.
  • Understands the residential, commercial and industrial draw patterns and how they affect the quality of each potential location.
  • Scores and ranks the competition and alternative sites under consideration.
  • Identifies feasible, realistic and appropriate site options.
  • Reveals the optimal means of market entry.
  • Generates target lists to support market development.

If you are looking to develop a location strategy for your bank or credit union, please call the Long Group at 603-424-5664 or use the short form to the left. We look forward to working with you and your management team to explore new markets, location opportunities, cost of entry and more.