Food Truck Park Raises Rents by 5%
A food truck park CEO wanted to capitalize on traffic growth opportunities with a cost effective approach. Using Placer, they analyzed the visitors by origin and targeted ads to top performing zip codes. As a result, CPC decreased by an averaged of 90% with 82.74% foot traffic growth over the last two years, allowing the park to raise rents by 5%.
90%
average CPC cost reduction
>82%
foot traffic growth
5%
rent rate increase
The Challenge
A busy, permanent food truck park wanted to expand its reach to customers in new areas and raise rents. How could it drive increased traffic in a cost effective manner, and use objective data to prove increased traffic and, as a result, boost rents?
The Outcome
Using Placer, the food truck park analyzed visitor origin and targeted ads by zip codes, lowering CPC by an average of 90%. Placer showed a 82.74% growth in foot traffic over the last two years, allowing the park to raise rents by 5%.
It's very difficult to adjust rent without data. We had other solutions, but it was high maintenance and difficult to keep up with. 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.
