When organizing an event, there is one important question. What is your Return on Investment? PFM succeeded in developing a tool based on clever usage of footfall data: The PFM Eventmonitor. We started with creating a forecast model for shopping centres. It predicts footfall on a daily basis with an average accuracy of 80-95%, taken important variables into account, such as:
- the day of the week
- month of the year
- macro-economic data
- weather data
- historical patterns
- payment of salaries, child benefits etc
This model provides a clear view of what the expected footfall should be on the day of your event. The actual footfall numbers in relation to the predicted footfall is the basis for the ROI calculation. If we know the average spending of the customers in a specific shopping centre, we can calculate the turnover caused by the event. Also we are able to include data on media value, such as Facebook likes, shares & reactions and clicks on the shopping centre website, so we can tell you exactly what the media value is of a specific event.
With the introduction of the PFM Eventmonitor we have managed to turn data into value in euro’s. We can provide a clear overview on costs, turnover of footfall and media value of your event. Spend your marketing budget wisely, get in touch with Wendy Hulshof-Hoven, Wendy.Hulshof@pfm-intelligence.com.