When you begin to plan a location-based marketing campaign or test, take the time to set up a measurement plan. It’s a good idea to start thinking about the goals of your campaign at the beginning so that you have a clear definition of success and you’ll know what you want to measure.
As you’re getting started, here are a few things to look for in terms of goals to measure against:
Foot traffic: Measure this as accurately as possible before, during, and after your campaign.
As an example, fast food chain McDonald’s did a test in 2010 on Foursquare Day, foursquare’s annual celebration of its company’s existence. The date is April 16 (or the fourth month and day 16, which is 4 squared). According to McDonald’s head of social media, Rick Wion, the restaurant’s daily check-ins increased by 33 percent and McDonald’s spent only $1,000 in gift card rewards.
Share of voice: This takes a little more work and requires the use of a listening platform, or a tool that collects and potentially analyzes conversations across the web from blogs, discussion forums, Twitter, and Facebook.
Providers include companies such as Radian6, Spredfast, or Converseon. Again, the goal is to see if the conversations about your business on the social web have increased or decreased in relation to your competition. This requires a pre- and post-campaign snapshot to evaluate success.
Increase in sales: This is obviously one of the best things you could hope for out of your campaign and will be in direct proportion to the offers you decide to present. In some cases, your offer will be a loss leader, meaning you might lose money on an initial transaction but will make money over time by an increase in transaction size or number of visits.
This requires some A/B testing, which means measuring the sales of a group of customers who aren’t offered a special via your LBS versus a group of those that are. This test can tell you if there is a statistically significant increase in sales from one group to the other.
Referrals: You may need to resort to a qualitative method of measure and track of the number of referrals that come in, on a spreadsheet. To do this, you might incorporate tracking codes in your ads, or you might just ask your new customers who check in how they heard about you.
E-mail marketing: Some e-mail service providers like Constant Contact are incorporating location through partnerships to build customer loyalty.
Earned media: Did your campaign get industry publications, bloggers, or even everyday customers to talk about you in a positive way? Tracking this metric also likely requires a spreadsheet. Fortunately, it’s easy to track because you will be able to tell whether an article, blog post, or Twitter post includes a reference to your LBS campaign.
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Source:http://www.dummies.com/how-to/content/measure-your-locationbased-marketing-campaign.html
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