Starting a pop-up business is a great way to generate more sales and increase brand awareness. However, if you don’t track certain metrics, you won’t know exactly how well you’re doing. Without these numbers, you won’t be able to make smart business decisions going forward, thereby limiting the potential of your pop-up shop. So, with that in mind, here are four metrics that every pop-up shop owner should keep track of.
The Number of Customers
First, you need to track the number of customers you’re getting. Ideally, you should track not only the number of sales but the number of people who come into the store. Even if someone doesn’t buy something, you can still learn something just by seeing if the number of people entering your store is growing or decreasing.
Most Popular Hours
Once you begin keeping track of the number of people coming into your pop-up shop, then you can start to see when your most popular hours are. Knowing when you’re the busiest will help you to choose the best hours to be open, and how many staff members you need on hand at any given time. For example, let’s say you discover that you pop up shop is busiest in the morning, but practically empty at night. With this information, you could decide to open an hour earlier, bring in an extra staff person, and close earlier at night. This will not only make your customers happier but ensures you’re spending your resources wisely.
How Your Customers Heard About You
Next, you should track how the people coming into the store heard about you. Was it through a social media post? An ad in the newspaper? Or were they just walking by and decided to stop in? By learning where your customers are coming from, you can find out which of your marketing strategies are working, and which ones either need improvement or abandoning. You can get this information by simply asking the customer when you greet them or when they purchase their items. After gathering this information for a few days, you can begin to gather insights that will help you going forward.
Busiest Areas of Your Shop
Finally, a great thing to track is the busiest sections of your store. If you can figure out where in your store your customers are spending the most time, you’ll learn a few things. For starters, you learn which products people are most interested in, and which ones they are not. If one product doesn’t line up with the products that are getting the most sales, you may want to evaluate the product that isn’t doing well. Perhaps the price point is wrong, or perhaps it is the wrong item for your shop. You can also learn if your store is designed well. If a spot in your store is clogged with traffic, you may need to move things around to generate a better flow.
Numbers are Your Secret Weapon
The more numbers you can collect about your pop-up shop, the better off you’ll be. You don’t want to make major changes to your store based on hunches or guess. Instead, make your decisions based on solid data – starting with the metrics mentioned above. To learn more about the metrics you should track within your pop up shop, or how to do it, please contact us at any time.