Analyze the competitive business landscape in your region

Civic | Use accurate benchmarking and understand visitor affinity to analyze competition and performance

Analyze the competitive business landscape in your region

Civic | Use accurate benchmarking and understand visitor affinity to analyze competition and performance
In This Article

Use Placer’s foot traffic insights to compare your region’s performance to others whether they are neighborhoods or municipalities. Compare your own assets - like museums, stadiums, etc. - to similar assets in other states, and use visit insights at the property and chain level to see how they rank in their respective categories. Learn where else your visitors travel to gauge their favorite destinations and understand the competitive landscape.

You’ll be able to answer these questions after reading this article:

  1. How can you evaluate how your region is doing compared to others?
  2. How can you better understand where else your visitors are traveling to and spending their time?
  3. How are your assets (museums, stadiums, etc.) performing relative to similar assets in other regions or states?

Get started with the following steps:

Step 1: Use Rankings to gauge asset performance

a. Open the Placer report for your POIPoint (Location) of Interest.. Navigate to the RankingShows where the venue/complex is ranked within its chain and/or category. section in the left sidebar.

b. You can choose to rank the traffic for this POI against other POIs in its category (eg. attractions). You can also rank using total Visits, or Visits per Square Foot.

c. You will see the POI’s rankings at the national, state (including options for DMA or CBSA), and local mileage ring granularities.

d. The Ranking Index section at the bottom of the page allows for a filtered view of the ranked POIs. In this example, the San Diego Zoo is the 30th most visited attraction in the United States.

Learn about Ranking Overview

Step 2: Use Favorite Places to understand visitor preferences and what competition truly is

a. From the Property report page, navigate to the Visitor JourneyThe flow of commercial activity to and from any property that shows the top "Prior" and "Post" locations. section. Scroll down to Favorite Places. 

Learn about Visitor Journey

b. Adjust filters as needed to narrow down the categories of interest. Set the minimum visits to your preferred number (this applies to the POIs in this list, not your original POI). This will narrow the list to where your visitors enjoy visiting the most.

Learn about Favorite Places
Pro Tip: Customers with the AGS Behaviors & Attitudes add-on can clearly see key differences between the preferences of the visitors in their region vs. a different region.

Step 3: For those who have added on the AGS Behavior & Attitudes dataset, identify visitor preferences within identified trade areas

a. Navigate to Demographics in the left sidebar and add a second POI using the plus sign.

b. In the Audience Profile section select the trade area type you’d like to use for the report (True Trade Area, Drive Time, Walk Time, or Distance in Miles).

c. Select AGS Behaviors & Attitudes from the dataset drop-down menu as the dataset of choice. If the dataset is not visible in the menu, click View more Datasets to add it.

d. Use the Compare drop-down to add Rego Center so a comparison can be made. In this example, both trade areas over-index for Continuing Adult Education compared to the national average (index scores can be read as percentages. For example, a score of 110 can be inferred to mean that the figure is 10% above the base average of 100; a score of 90 represents a figure 10% below the base average).

Learn about Trade Area
Case Study

City proves convention center popularity and draws interest from major entertainment event organizers

The Challenge

A major west coast metro sought to land a major entertainment event at its convention center, but first had to convince the event organizers that its venue was a better option than its current venue. How could the city prove strength of fit and secure the event going forward?

The Outcome

Using Placer, the city demonstrated that their convention space was a more popular space than the event's current venue, and showed the draw from past events. This data, coupled with the larger catchment area for the convention center led to interest from the event operator, with conversations ongoing.

Case Study

City proves convention center popularity and draws interest from major entertainment event organizers

The Challenge

A major west coast metro sought to land a major entertainment event at its convention center, but first had to convince the event organizers that its venue was a better option than its current venue. How could the city prove strength of fit and secure the event going forward?

The Outcome

Using Placer, the city demonstrated that their convention space was a more popular space than the event's current venue, and showed the draw from past events. This data, coupled with the larger catchment area for the convention center led to interest from the event operator, with conversations ongoing.

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