In the world of business, you might have heard that location is everything. The location can make or break a business, and an important part of understanding a certain location’s success (or lack thereof) is through foot traffic analysis. But what exactly is foot traffic? How do you measure it? Read on to find out!
What Is Foot Traffic?
Foot traffic is the number of people who enter a specific place or area at a specific time during the day. Businesses use this to establish how many customers are entering a store to determine consumer behaviour and the store’s success. This also allows them to understand what factors affect customers’ decisions and then use that knowledge to adapt their marketing and branding strategies accordingly.
Why Do Business Owners Need This?
Foot count data gives you as a business owner a clear understanding of how many people visit their stores. This data is valuable to you because it helps you to make:
- Decisions about store design and layout
- Decisions on how to best allocate resources for staff, promotion, and marketing
- Calculations about ROI and return on investment
- Predictions of customer behaviour for future planning
The traffic provides data about your group’s stores and compares them with each other. You can also compare regions to each other or get a global company overview for all stores. The success of advertising campaigns can be measured by analysing customer visits.
In addition to this, past and present periods can also be compared. For example, Easter Weekend of the previous year and the current year can be compared to see how customers are behaving differently. Data like this is crucial in predicting future sales and success.
This can help in understanding business trends, customer preferences, and local market demands.
With this knowledge, business owners can change their stores, leading to increased sales.
How Do You Measure Foot Traffic?
How to measure foot traffic is a question many marketers and business owners ask. The most common way to measure it is through the use of counting systems, such as:
Video and WiFi Counting
This method uses video footage or WiFi signals to count the number of people entering a selected area. At Milestone, we stock the TrueCounts 3D foot traffic counter, which uses video and WiFi counting to accurately measure customers entering a store.
In addition to foot traffic counting, the TrueCounts 3D traffic counter can tell business owners the customer dwell time, return customers vs. new customers, cross-shopping, average basket size, and conversion rates.
Heat maps use sensors that detect movement and heat in order to generate a map of data. This type of system allows businesses to track how people move within the store, which enables them to gain insight into customer behaviour and identify key areas that are being used more than others.
Beacon tracking uses Bluetooth low energy (BLE) transmitters. As customers enter and exit the store, their smartphones will be detected by the BLE transmitter. This allows businesses to measure how many people have entered or exited.
What Factors Can Affect Foot Traffic?
There are certain factors that can affect the number of foot traffic a business gets. These factors include:
The most crucial factor affecting foot traffic is the location of a store. As mentioned in the beginning, the most important factor for businesses is location. If a location is unattractive or convenient for customers, then the number of visitors to that store will be lower than a store in an ideal location.
The interior design of a store can influence foot traffic. Customers usually have an opinion about a store’s design and layout, so it is essential to consider how these factors can affect the customer experience and ultimately determine their decision to visit the store.
Marketing efforts can help increase foot count. This includes promotional activities such as discounts, sales, and other incentives that can encourage customers to come into a store. It is also important for businesses to have an effective online presence in order to reach out to potential customers.
Do You Want A Foot Traffic Counter?
If your business needs help measuring foot traffic, then you should consider investing in a foot traffic counter! One of the best foot-tracking measuring tools is the TrueCounts 3D foot traffic counter, available at Milestone! Reach out to us today and get counting!