Tableau Dashboard
CBD Market Analysis
The Challenge
A CBD company with multiple brick-and-mortar locations across the US faced challenges in comprehensively analyzing market dynamics and competitor locations. The absence of insights into competitor density and potential opportunity areas within each DMA made strategizing for expansion and marketing optimization complex and less effective.
The Solution
Leveraging Tableau, this project presents a detailed dashboard visualizing competitor and company locations and potential opportunities within each DMA. This solution allowed the company to strategically plan expansion, optimize marketing, and effectively target high-opportunity areas by assessing competitor density and market demands.
The Tools
- Tableau
- Claritas
- Excel
The Dashboard
DMA Insights & Market Data
This section provides a comprehensive view at the DMA level, showcasing metrics on client, competitor, and opportunity locations. A detailed map visualizes different location types, aiding in strategic planning. Additional insights on population demographics and specific market indicators like medications used and pet ownership are included, highlighting areas of interest for CBD usage, thus aiding both the client and the marketing agency in targeted efforts.
Market Saturation
This section provides a concise snapshot of market saturation. The upper section is interactive, allowing tailored insights through filters like competitor density and population. It contrasts the most and least saturated DMAs, visually represented for immediate comprehension. By integrating 1st and 3rd party data, this page provides a comprehensive tool for assessing market dynamics and planning expansion.
Questions the Dashboard Answers
Insights Unlocked
EXPANSION OPPORTUNITIES
Which markets hold the most potential for expansion?
RESOURCE ALLOCATION
How should we allocate our marketing resources for maximum impact?
COMPETITIVE LANDSCAPE
What does the competitive landscape look like across various DMAs?
LOCATION EFFECTIVENESS
Are our current locations effectively maximizing market share?
STRATEGY CUSTOMIZATION
How can marketing strategies be tailored for different DMAs?
Client Increased Budget
Results
Starting with a win, the client was so impressed with this interactive dashboard that they increased their marketing budget by a substantial 50%. This success was the culmination of several meetings with the client, where we explored defining competitors, pinpointing opportunities, and aligning prospect opportunities with the client’s vision, such as highlighting specific medical conditions and emphasizing pet ownership.
The CBD industry navigates a sensitive landscape on digital platforms like Google, requiring us to approach the targeting of opportunity areas with thoughtful precision. Much of our strategy involved strategic messaging and integrating SEO to optimize visibility and reach.
This process was a testament to the collaborative effort between our team and the client, ensuring that every element of the dashboard was tailored to meet their unique needs and objectives. The dashboard became an invaluable tool, providing actionable insights and guiding resource allocation, positioning the client at a vantage point in the competitive CBD market.
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