“Placer’s trade area map and demographics were a game changer for us because they gave us the data we needed to raise rents 5%. We use it almost every day. Without Placer, you’re really in the dark.”

~ Food Truck Park CEO

The Challenge

A Food Truck Park Sought To Grow Visitation And Raise Rents

A popular food truck destination, the first food truck park in its region, supports a unique community of 50+ on-site food trucks, and has grown noticeably since 2017. While high foot traffic was obvious to the eye, proving that with data - critical to justify rent increases - can be substantially more difficult and tricky. The team at the food truck park had two main questions:
1. How could they continue to grow visitor traffic, including beyond its existing 30 mile radius, in a cost effective manner?
2. How could they objectively demonstrate that the center was doing well and, as a result, increase rents?

‍The Solution

Use Placer for Ad Targeting and Tracking Visit Growth Over Time

Knowing that foot traffic data could help answer its questions, the food truck park turned to Placer. Using Placer’s Trade Area and Visitors by Origin map, it was able to identify where people were coming from and explore new areas to target, including areas further away from their location.

Learn more about Visitors by Origin

The food truck park could narrow it down even further by focusing on specific zip codes with already high visitation traffic, suggesting ideal markets to target. Targeting ads in this way brought traffic growth to the food truck park.

Learn more about Visits Trend

However, onsite cameras couldn’t answer questions like how many people were employees vs. true customers, and how long did they stay? With Placer, the food truck park was able to differentiate visitors and track length of stay. What’s more, it could use Placer to identify where the visitors came from and offer insight into demographic and psychographic data. By pulling visitation data, the food truck park was able to demonstrate a 82.74% increase in Yo2Y foot traffic between 2019 and 2021 annual totals.

‍The Outcome

Success: CPC drops 90%, increased Visits Supports A 5% Rent Increase

Leveraging the zip code and visit data to target ads, the park grew visitation and saw a 90% average decrease in ad cost per click (CPC), becoming a top 5 visited “shop and dining” destination in its state and one of the top 15 in the U.S. What’s more, it packaged Placer’s objective foot traffic data into a report and shared it with its tenants, showing higher traffic numbers at the center and securing a 5% rent increase across the board.

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