We’ve all been there.
Running into a store for a quick trip and bam, something catches your eye. Not something on your list, but now you’re considering scanning the QR code or even adding it to your cart. That’s a successful display.
But how successful was it?
Are you getting the most out of your store display program?
Retail display agencies are responsible for creating captivating point-of-purchase (POP) displays that can boost a brand’s visibility and drive sales.
But how can brands and retailers know if their POP displays are effectively meeting their goals? Have you asked yourself if, you’re getting the most out of your store display program?
In our post, we share which specific key metrics to track and measure the success of your POP displays.
Key Metrics to Measure Retail Success
Conversion Rate
The conversion rate is one of the most critical metrics to measure the success of POP displays. This metric measures the percentage of shoppers who interact with a POP display and make a purchase. The conversion rate is an indicator of the display’s effectiveness in driving sales and is typically calculated by dividing the number of transactions generated by the display by the number of people who viewed it.
To improve the conversion rate, retailers need to ensure that their POP displays are engaging and eye-catching. Display agencies can work with retailers to create displays that appeal to customers and increase the likelihood of a purchase.
Shop-ability
The shop-ability of a display is determined by how easy is the shopper to read the messaging and select the product. This can be measured by assessing where the display is placed compared to how visible it is to the shoppers eye.
To ensure the shop-ability of your display, have defined guidelines (or suggestions) and conduct regular in-store audits.
Return on Investment
The return on investment (ROI) is the ratio of the profit generated by a POP display compared to the cost of producing and running it. This metric measures the overall success of a POP display campaign and is a crucial consideration for retailers looking to optimize their display strategy.
To maximize ROI, retailers need to work with display agencies that can create cost-effective displays that are still effective in driving sales. Retailers should also track the costs associated with each display campaign to ensure that they are not overspending.
Are monitors worth it?
For example monitors. These can be engaging and interactive. However, we’ve run across plenty of displays with error messages or just turned off completely. So, that leave the question, are monitors worth the investment?
There are a few things to consider such as shorten attention spans, so make sure the content it short and sweet. And give sales associates the option to turn off the sound. We’ve met a few reps who’ve confessed to turning off displays out of frustration.
Engagement Rate
The engagement rate measures the percentage of people who interacted with a POP display compared to the number of people who saw it. A high engagement rate indicates that the display is attracting customers’ attention and generating interest in the products. This metric can be used to evaluate the effectiveness of the display’s design and placement.
To increase the engagement rate, work with a creative display agency to design that stand out and grab customers’ attention. This can be achieved through the use of unique designs and interactive elements.
Customer Feedback
Customer feedback is a valuable metric to measure the success of a POP display but one that’s difficult to get in the field.
Some retailers can ask customers for feedback on the display’s design, placement, and the products featured. This information can be used to improve future POP displays and ensure that they are better aligned with customer preferences but can be hard to scale.
To encourage customer feedback, retailers can use tactics such as offering incentives for filling out surveys or using social media to solicit feedback.
Conclusion
Effective POP displays are powerful tools for brands looking to increase sales and visibility. However, measuring the success of a POP display campaign can be challenging. By tracking the key metrics outlined in this post, retailers can gain insights into the effectiveness of their display strategy and optimize their approach to maximize ROI.
Working with a retail display agency can be an excellent way for retailers to create innovative and effective POP by providing insights into the latest trends in materials, manufacturing, and technology.
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