The effects of online promotions and branding on venue visitation – linking online trends and physical spaces.
For retailers, shopping centres and numerous stores who provide products or services from a physical location – the correlation between venue visitation and revenue is closely intertwined. This powerful metric offers insight into the success businesses have in creating awareness, appeal and value to consumers, and thus in creating traffic. With the consumption of media moving steadily away from traditional advertising, this task of generating in-store visitation has moved online.
* 87% of shoppers perform online research prior to visiting a store, 71% during and 35% after
* 39% of consumers use social networking sites for information on products and services
*50% of millennials trust user generated content and reviews over traditional advertising
Not surprisingly, *89% of retailers identified they had a social commerce strategy in place or planned to in the near future. For many retailers social media offers an effective method of capitalising on earned media to create campaigns, with enormous reach and engagement potentials. Combined with other above the line methods these integrated campaigns play a dominating role in creating traffic to venue, with a majority of retailers believing that social campaigns contribute to *5-20% of all sales.
So, how can you truly measure the success your campaigns have on visitation and their resulting impact on revenues and profitability?
The connection is not always clear, that being the effect your social campaigns have on venue visitation and revenue. Understandably Social Networking analytics can provide you with insights into the effects your social advertising is having online, however this connection to venue has never been well defined. Fortunately, Skyfii’s Social Dashboard combines the advantages of both platforms, merging social analytics with accurate visitation numbers, creating a clear path between the sentiment you have online and the effect it has to your store. With this ability you can define best practice for social campaigns, accounting for the overall effect of online promotions and branding with venue visitation.