We’ve reached the halfway point of the year, which is a great time to take a step back and evaluate your foot traffic data!
Coming into the year, you’ve likely set performance goals for your business. Mid-year is a great time to revisit those goals and assess what is working and what needs improvement. Your foot traffic plays an important role in gauging the overall pulse of your business performance and Vea Foot Traffic Analytics makes it easy to capture that data.
Let’s take a look at four useful reports you can run in Vea for a Mid-Year Review:
YoY Traffic by Month
This is a super simple report to see if visitation increased, decreased, or remained the same as the previous year. Then you can analyze if this is what you expected as you planned goals at the beginning of the year. If traffic has decreased, perhaps a promotion or advertising is needed to draw people into your facility. If traffic has increased and that was a goal, then identify what is working and reward the employees responsible for the uptick.
Now that we’ve looked at where we’ve been, let’s see where we’re going. Vea’s Traffic Prediction tool gives accurate future traffic trends. If traffic is predicting higher than last year, you may want to reevaluate staffing resources to accommodate. Does the forecasting model show any lulls where an even can be planned to boost traffic?
The annual goals your team probably spent the most time planning are financials. Whether you’re a global retailer or a souvenir shop at a museum, sales goals are lifeblood. It’s easy to assess your current sales volume, but it’s important to gauge your predicted sales as well. Using the traffic forecasting model, you can quickly calculate forecasted sales too. Apply your average YTD conversion rate to your total predicted traffic, then multiply it by your average customer value. This will give you a solid sales forecast to compare against your goal.
Average Visit Duration
This report applies to those customer who have “Spaces” setup for their location in Vea. By running an Average Visit Duration report, it will allow you to see how much time your visitors are spending in a particular location, for example, counting visitors at a museum exhibit or zoo. This provides insights into how engaged your visitors are and if you are keeping their attention. This data can influence decisions on layouts and customer experience.
If you don’t have Spaces setup in your account and would like to do so, please submit a ticket with our Technical Support team.
If you’re new to people counting and would like to see a demo of our hardware and software in action, please sign-up for one of our weekly live group demos!