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Know how COVID-19 is impacting your market and adapt - Swift Insights

By Zach Alexopoulos, Head of Analytics

15 July 2020

Everyone you do business with is facing an economic climate Australia hasn’t seen in decades. Many of them have lost clients, lost jobs, or even risk losing their whole business.

Because of this, many more Australians are receiving government subsidies than even a few months ago.

But where are those people most likely to live? And in which parts of Australia are your clients, customers or members most likely to have been affected?

There’s a rich seam of government data which can help answer that question.

The federal Treasury has released data on the number of businesses in each postcode that have applied for JobKeeper. And the Department of Social Services provides monthly figures on the number of people in each SA2 (a large suburb or group of small suburbs) who are receiving JobSeeker.

Putting these data sources together helps you work out where COVID-19 has had the biggest economic impact.    

For example, towns in Queensland that are highly dependent on tourism are among the worst affected of all. Cairns has more businesses that applied for JobKeeper than any other postcode in Queensland. Two Gold Coast postcodes including Surfers Paradise are in the top five.

Many of the other JobKeeper hotspots are industrial or manufacturing hubs, such as Liverpool, Dandenong and Canning Vale.

 

But even if your business isn’t in tourism or manufacturing, there’s a lot this data can tell you. Mapping your organisation’s data against the government data will give you a much deeper understanding of the challenges your market is currently experiencing.

This can tell you where your customers are most likely to have lost their jobs, where are the largest clusters of businesses that have had the biggest drops in revenue and where you’re likely to face the biggest challenges in keeping your clients, customers or members.

This will allow you to adapt your strategy, tailor your offerings and navigate a path through the storm.

 

SwiftFox CRM includes Australia’s most detailed mapping technology, allowing organisations to visualise their data against key national data sets.

Get in touch today to discuss how we can use SwiftFox to overlay JobKeeper and JobSeeker with your existing data sources and provide deep insights to how the changing economy might impact your business.