Pop-Up Shops
Short-term retail has been making waves throughout the marketing industry over the last five years, and by now it’s no secret that Pop-Up Shops have created their own vertical margin within commerce and the marketing world. Brands are beginning to realize that a Pop-Up Shop isn’t just an opportunity to build sales but gather insight and helpful data to provide indicators to how their existing customers and new customers alike, are engaging with their brand. One question that we hear is, ” How do I measure ROI for Pop-Up Shops?”.
Just like social media marketing, Pop-Up Shops have unique way of exhibiting value for your brand. You can’t attribute sales figures alone to the ROI of a Pop-Up Shop. Pop-Up Shops lend themselves to performance measurement. Set a series of specific purposes for your Pop-Up Shops defining what needs to happen at the location, for the duration of the campaign, brand insight you’re looking to achieve, geographic interest, etc.
Naturally, harnessing a sense of impermanence, limited-time-only pop-up shops help a brand boost business through sales, and often in higher transactional value in-store or on-street versus online. Data has also shown that this can happen with even higher frequency, quicker than in other marketing channels.
Once brands have an opportunity to create a direct, positive experience with a new customer, that customer will have increased confidence and trust in the authenticity of the brand driving repetition toward sales and brand loyalty. In addition, we measure social media distribution through various metrics such as distributed social media impressions over the activation’s duration, target geography affected by the activation, and user sentiment.
With the combined power of social media and other new engaging media technologies such as Oculus Rift, these tools allow brands to use their Pop-Up Shops to empower their customer base, increase brand awareness and acquire new customers. Customers are pretty stoked to share new, positive experiences with their friends. When a friend shares something they like with you, you tend to check it out, because you trust your friend.
Brands can not only learn about who is sharing but can capture content generated by users, like photos and videos, maybe even creative works inspired by your brand. This content can be analyzed and examined to find out exactly the sentiment of users during the time of this experience.
Pop-Up Shops can be used to test ideas and market them to specific focus groups and locations to test their effectiveness. Pop-up shops can be used to demonstrate a new product to consumers and record the data in locations to get an overall idea of the potential success of a product, or product variation. Brands can test aesthetic elements that work in certain locations, but say, not in others. All this data is valuable information that can help a brand roll out their experience better and better each time.
At the end of the day there’s a mix of indicators when it comes to Pop-Up Shops. There’s value written all over them. When you have a kick-butt combination of branding, customer service, brick and mortar, e-commerce and data collecting capabilities brands can create impressive datasets for benchmarking performance at these experiences and learn from what customers experience first-hand.
If you have questions about Event Management, Experiential Marketing, Content Marketing, Pop-Up Shops, Event Staffing, Event Coordination, Event Planning, Event Marketing or are interested in having BeCore build your next Experiential Activation Contact BeCore today!