While analyzing data received at a recent event Event Guidance was monitoring, our client’s representatives and I started a discussion about the value of certain metrics over others. After pointing out how dwell times reduce as their booth area population increases, the question was asked, “Is our goal more eyes on the product or more interaction time per person?”
Attendance signifies a draw. Something within your space was eye-catching enough to bring ticketholders within your booth area. Dwell time shows interest level. If you put a Samsung Galaxy S6 on display, you will get visitors. If you offer the opportunity to have a tutorial on how it works with a product specialist, you will increase dwell time. As your booth area gets busier, tutorials will get faster or turn into group presentations, potential customers will ask less questions, and dwell times will decrease. Statistically, this lowers the customer to sale ratio. If though, you increase population high enough, the lower sale percentage can still lead to higher sales numbers. DeAndre Jordan may have the highest shooting percentage in the NBA, but James Harden still scores more points.
Obviously the goal of any event is to have high attendance AND longer interaction times. The question is, can we create a formula based on population, square footage, and number of engagement zones to calculate the maximum number of guests before dwell times suffer? Once we have that target attendance number, how do we control population and make all visitors comfortable enough to gather information and make a purchasing decision? These are questions we and our top clients are working together to answer.
My goal at Event Guidance is to partner with you and provide the behavior analytics needed to recognize consumer trends and build your marketing strategy for maximum space optimization.