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Economic Impact Study 2013 FMNS Annual General Meeting

Economic Impact Study 2013 FMNS Annual General Meeting. Why EIS?. Helps inform business, strategic and marketing plans Determines benchmark or baseline measures Provides customer feedback Allows you to compare your market to other markets Measures the economic impact of your market .

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Economic Impact Study 2013 FMNS Annual General Meeting

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  1. Economic Impact Study 2013 FMNS Annual General Meeting

  2. Why EIS? • Helps inform business, strategic and marketing plans • Determines benchmark or baseline measures • Provides customer feedback • Allows you to compare your market to other markets • Measures the economic impact of your market

  3. What is EIS? • Quick, easy way to gather information about your market • Based on Rapid Market Assessment • Developed by Oregon State University • Specifically designed for farmer markets • Three components • Map Your Market • Attendance Counts • “Dot Surveys”

  4. Map Your Market • Sketch Layout • Mark entrances • Note traffic patterns • Contingencies?

  5. Attendance Counts • Timing • Min 10 minutes every hour • Location • One volunteer entrance • If entrances are undefined, divide market into zones using landmarks • Recording • Use hand-held counters • Record count on sheet each hour • Track by entrance/zone and overall

  6. Dot Surveys • Easy, fun way to engage with your customers • Can offer valuable insights into shopping behaviours • Key to measuring economic impact • Great return on investment

  7. Dot Surveys • What you’ll need • Flip charts • Markers • Dot stickers • Chart stand (optional) • Table (optional) • 2-3 volunteers

  8. Dot Surveys • Pick the right day! • Perform surveys when your typical customer is there • Check the weather forecast • Unit of measurement = shopping group • Prepare clearly legible charts • Seed charts with random dots

  9. Dot Surveys Questions • “How many adults are in your shopping group today?” • “How much have you and your group spent (or will you spend) at the Market today?” • “How much have you and your group spent (or will you spend) shopping or eating at other businesses in the area today?”

  10. Dot Surveys Additional Questions: • “How did you hear about our market? • “Which of the following best describes your top reason for shopping at our market?”

  11. Dot Surveys • High traffic areas, out of the way of vendors • Exits are ideal • Look for areas with easy access • Provide a table for handbags and purchases • Be aware of weather • Wind and free-standing charts are not friends

  12. Dot Surveys • Sample chart layout 2) How much have you and your shopping group spent (or will you spend) at the Market today?

  13. Analysis • Count sheets • Per entrance and total • Dot charts • Reader and recorder • Calculate percentages

  14. Analysis (Total Counts / Avg Group Size) * Avg Amt Spent = Economic Impact

  15. Analysis • Electronic forms will be provided for reporting • EIS Report - September 2013

  16. Shopping List • Clipboards / notepads • Flip charts • Dot stickers • Pens / pencils • Hand-held tally counters • Volunteers (2-3 will suffice for most markets)

  17. Finding Volunteers • Service groups • Lions Club • Kinsmen • UCW • Youth • Leadership classes • Summer camps • Vendors

  18. Schedule • RMAsconducted in June/July • All steps must be completed on the same weekend • Markets are welcome to repeat RMA for their own benefit, but only one set of data will be collected • All data submitted by August 1st • Report available mid-September

  19. Thank You!Questions?

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