Maximizing Your Advertising Budget With A Retail Traffic Counter
For any retail business, counting people is important as it is a means to monitor trends of clients, properly schedule staff, analyze sales performance and help assess the effectiveness of promotions & marketing activities. It helps business owners to efficiently use resources such as time, people and money, leading to higher sales revenues & lower overhead. The final result is maximizing profits.
With the help of a traffic counting system store managers and owners will be able to comprehensively assess the shopping habits of their store’s customer base and effectively budget advertising and get the most out of each marketing campaign. As we all know, advertising can be quite expensive so spending too much on it across multiple channels may not give you the returns you are expecting, while spending too little may hurt your chances of reaching as many consumers as we possibly can and increasing your brand exposure.
A retail traffic counter can help business owners create affordable yet effective advertising through different advertising channels. A traffic counter system will help them choose marketing that best fits their needs in order to reach their marketing goals. This media mix may include event marketing, social media marketing, cause marketing and in-store discounts.
To ensure that the retail business has a feasible budget and that it is making good use of the funds they have allocated for advertising, they can use their retail traffic counting system to analyze the outcome of their advertising spending through the following methods:
* Ecommerce Comparison
Those with brick and mortar business with ecommerce options can compare their in-store traffic with their website traffic while running different promotions on each and see which channel made created the most sales. They can then assess the collected data and find out how they are related and determine how successful the advertising campaigns were.
* Performance Period
Retailers can easily determine the efficiency of their marketing campaigns by monitoring the traffic during the day/week of the campaign and evaluate the increase or decrease of shoppers in their store. By comparing the collected number on the day/week of the promotion to the store’s average traffic the owner can then determine whether or not they have matched their projected increase in sales and if the money spent offered a good return on investment.
To measure the effectiveness of the advertising or promotions, owners can review the data of the number of people who actually came to their location with a certain discount coupon in hand. When a retail traffic counter is tied directly into your point of sale system, you will accurately see which campaigns have functioned and which have not offered a good return on investment.