There is no denying that scent marketing has a positive impact on business. But measuring its return on investment (ROI) can be tricky due to its subtle and indirect effect on customers.
In this blog post, we will break down some of the best ways to analyse and measure the impact of this innovative tactic on your bottom line.
Effective Measurement Strategies
- Sales and Revenue: Track your sales data before, during, and after the implementation of a scent campaign. Look for increases in sales figures that coincide with the scent’s introduction. Research indicates a reasonable expectation is to see sales increase around 10% initially.
- Customer Feedback and Engagement: Carry out surveys or polls to gauge customer satisfaction with the atmosphere in your business and see if your scent strategy is creating a more positive environment. Monitor online reviews and social media comments for mention of scents specifically and the atmosphere in general. The expected improvement in customer satisfaction can be pegged at approximately 20%.
- Customer Loyalty: Track customer retention to see if there is an increase in repeat business and loyalty. Look at the spending habits of your loyal customers to monitor any increases in their spending.
- Employee Morale: Remember to include your employees in your research. A pleasant-smelling environment will have a positive impact on staff and can boost morale and productivity. Surveys and personal interviews with employees can provide valuable insights.
The Best Approach
- Combine Direct and Indirect Measures: A long-term evaluation of the effectiveness of scent marketing will include a combination of direct and indirect measures. Look for trends and connections between the various metrics and the implementation of the scent.
- Be Patient: Our best advice is to be patient. The introduction of a scent into your business environment will not give an overnight result. The key to success lies in consistency. As you continue to monitor the effect of scent as a tool in your marketing toolkit, you will find gradual and maturing improvements in customer activity and sales.
Remember that a scent strategy is a long-term investment. By tracking its impact through both direct and indirect methods, its effectiveness will become apparent over time. These valuable insights will provide the fodder for data-driven decisions for your business.
Contact Scent.ology today to experience the positive impact of scent marketing for your business. We offer a range of customised scent solutions to suit all types of businesses and budgets.
