Getting your product in front of people is the most important ingredient in sales. This is no less true in online sales and definitely applies to online action photo sales. The more visitors viewing an event the more the sales the event will attract. Simple as that.
Reach Ratio is a good indicator of how effective marketing efforts are in attracting visitors to an event.
What is a good ratio?
The most important thing to understand is that a high visitor to image ratio is better. For example, 1:1 is a more desirable ratio than 1:5. In an ideal world, a good ratio would be 1:1, meaning one visitor for every photo uploaded. However, between 1:5 to 1:7 may be more realistic for certain events (see below for more info on how to calculate a specific target ratio for an event).
How it works
The Reach Ratio compares the number of visitors of an event with the number of photos uploaded. For example, a ratio of 1:10 would read: one visitor for every 10 photos uploaded.
A low visitor to image ratio indicates that you are missing out on potential sales because not many of the participants have turned up to view their images.
While a high visitor to image ratio indicates that you are reaching close to the maximum potential of the total participants of the event.
Setting a target ratio per event
Larger events with more participants will have larger revenue potential. To reach this potential, however, more participants have to be reached. Setting a reach target for an event is a good way to determine if the event has lived up to its revenue potential.
Depending on the circumstances, you may need to adjust your target for each event. For example, If you know that you shot about 5 photos of each participant during a race, the ideal Reach Ratio for that event would be 1:5. Anything above that means you lost out on potential sales.
Looking back at past events helps improve future events. Looking at the reach ratio one can see whether there is still room for improvement in reaching more people or not. Comparing the reach ratio of past events is a good way to track progress and understand if your improvements are having a positive impact.
Tools for improving reach ratio
We offer the following tips for improving reach ratio:
Reach Ratio is useful in understanding if an event has lived up to its revenue potential. It is also useful to compare past events to measure the impact of any new measures being employed. Once you are able to measure your reach, the next step is to start employing measures to improve it. If you need advice on how to improve your events, feel free to contact us for ideas.