Are you a market operator wanting to understand how visitors and shoppers view your market?
Are you seeking to use your market’s energy as part of a regeneration of your town centre?
Are you a manager or owner planning change or refurbishment of an established market?
ROI Team is working to help markets to provide what customers are asking for. In the markets sector many markets and many traders have updated their offer to what today’s customers are asking for. But equally many seem out of step with what today’s shoppers want.
ROI Team, helping you to understand your customers
When ROI Team entered the world of intelligence for markets our mission was and remains to bring to markets the intelligence-led techniques that we have delivered for years to shopping centres and High Street retailers. We are the people who for the last two years have evaluated the Love Your Local Market event and we have recently been engaged to carry out the task in 2014.
Many market traders and managers have seen our uniformed interviewers at work in markets up and down the UK.
Today we work across a spectrum of market operations:
- Owners and managers of markets, private and Local Authority
- Developers and redevelopers
- Market entrepreneurs and traders
- And we work for sector leaders such as Nabma, the NMTF, and the DCLG.
To consistently provide outstanding value for our market clients we have developed low-cost versions of some classic research techniques – and they seem to hit the spot with them:
Intensive Customer Surveys
The oldest and arguably still the best way to get granular information from shoppers and visitors. In spite of new forms of research there is still no substitute for getting face to face with your customers. We have streamlined the survey formula around short questionnaires easily answered by customers and delivering specific intelligence around agreed subjects. With a team of hardworking interviewers in tune with market shoppers we can reach sample size more swiftly.
Where needed we have turned around Intensive Customer Surveys within a month from sign off to report back.
Group Work complements survey work, providing deeper understanding of what drives your customers’ attitudes and behaviour. Focus Groups are the classic format – but the cost of staging them means today they are an expensive option compared with other research formats. With today’s budgets in mind we developed a variant called Cluster Groups. These are smaller groups, staged on location, and sometimes recruited on the spot. Cluster Groups are lightly facilitated by a Moderator who will ensure that the 4 or 5 topics agreed in advance with the client are all raised and explored. The recipe is about immediacy, and the wish to swiftly engage customers’ enthusiasm for the location and the subjects to be discussed.
Depth Interviews are lightly facilitated one-on-one discussions around an agreed subject lasting about 10 minutes, with the interviewer making a sound recording or a note of views expressed. Depth Interviewing is especially valuable where understanding depends on a point of view – such as why customers are deserting a market in favour of a new retail park, and what would tempt them to return. Recently we have been using Depth Interviews as a way to enable market managers to understand the viewpoint of their stakeholders – such as traders, nearby shopkeepers, and community leaders.
Analysis of Footfall
Counting of footfall – either by electronic sensor or by manual counting – has become the gold standard for many markets. To overcome the issue of set-up costs we are working with our footfall counting partners PFM to provide more flexible counting solutions such as: Occasional Counting and Mobile Counting Devices to cater for markets that only open on certain days. Sometimes it may be possible to share a counting system with another adjacent location, such as a nearby shopping centre.
We have provided all of these techniques to market clients at budgets that we would have thought impossible 2 or 3 years ago.
We love our work in markets and it’s a great satisfaction to see our findings bringing about change and improvement in markets:
- Better layout and zoning of stalls to tempt shoppers into the market
- More of the stalls that local shoppers are asking for
- Statistics to support applications for funds and improvements
- KPI’s to demonstrate the benefits of innovation and investment
- More effective promotion of markets and market events
- Knowing where the market fits within the town centre offer
- Changes to opening and closing hours
- Helping markets to prove their value to town and community
- And lots more…
How we work with you
With our core team of project managers, supplemented by our interviewers who go out in all weathers to give shoppers the opportunity to share their views about their consumer habits and preferences, we can offer maximum flexibility whilst keeping overheads to a minimum.
We never struggle to fill the teams for our market work. Although the work may be out of doors and the weather uncertain everyone enjoys working in markets – because the shoppers are more cheery and so more likely to agree to be interviewed. We all feel the same way about our markets work.
We hope to do more work in markets and support success for more market managers and traders. So please give us a call or drop us an email to open a discussion about how we could work together.