Store Surveys 101: Part 4
March 12, 2020 by Alec Veinger – In case you’re late to the blog series party, we’ve been taking a deep dive into the importance of surveying your stores. In this edition we tackle answers to three need-to-know questions about store survey costs, timing and ROI.
To recap:
Part 1 focused on Building an Accurate Database with Store Surveys
Survey Costs and Timing
Costs, timing and ROI are the primary concerns that come to mind before kicking off a significant project. We spoke to a leading retail surveyor to get answers to these key questions.
- What are the costs involved in surveying stores?
“Costs can range between $500 to $5K per store – pricing depends upon the complexity of the survey. For example, how many datapoints will we need to collect at each site? What’s the distance between each store? Does your staff need a high level of post-survey support?” - How long does it take to complete a store survey?
“Surveys can range between several hours to one or two days based on amount of data we need to capture.” - How will store surveys benefit my ROI?
“The data and insights gathered through store surveys is priceless. It’s one of the easiest ways to cut marketing costs and save on indirect spend. For example, by creating a centralized cloud-based single data source, you’re able to streamline your communications. Bringing together your marketing staff, creative department, category managers and other stakeholders. Businesses using cloud-based collaboration and computing can increase productivity by nearly 400%. Additionally, creating a database of store details allows retailers eliminate overage. Knowing the details of every store, they can customize their signage and POP by store. For example, not all stores have 10 windows, not all stores have the same signage hardware, etc.”
Have additional questions about store surveys pricing, timing and ROI? Contact a survey expert today and ask if you qualify for a free 90-day trial.
