CASE STUDY

How market research transformed the strategy of a large Business Improvement District

Case Study Key Points

CARD Group Research & Insight was engaged by a large Business Improvement District.
The BID team were seeking data-driven insight to provide evidence of their positive impact on the area
Initial insights were used to inform the BID strategy and to provide a benchmark
Subsequent insight reports provided evidence of the positive impact of the team on the BID, and the value of BID initiatives to business owners

Case Study

Background:

A large and well-established UK Business Improvement District was facing challenges in understanding the evolving needs of its business members and visitors. Foot traffic patterns had shifted post-pandemic, retail trends were changing, and business owners were seeking clearer evidence of the BID’s impact on the area.

To address these concerns, the BID Manager searched for a specialist market research company to provide data-driven insight. We were selected to partner with the BID.

Solution:

We conducted a comprehensive study, including business surveys, visitor analysis (incorporating our unique TREADS system), and consumer sentiment tracking. Key data points were collected on customer demographics, spending behaviours, and visitor satisfaction levels.

Additionally, competitor benchmarking was performed to assess how this BID compared to a similar district.

Findings:

Footfall had changed – we found a significant drop in weekday foot traffic, but increased activity on weekends
Our TREADS system showed that a key demographic segment that was expected to visit the area was significantly lower than expected.
Business owners expressed concerns about how security and cleanliness was affecting customer perceptions
There was a growing demand for more cultural and leisure events to enhance visitor experience
There was an increased consumer preference for more dining options

Strategic Impact:

Using these insights, the BID Manager and team developed a data-driven action plan:

They adjusted marketing and event scheduling to attract weekday visitors
New targeted safety and cleanliness initiatives were initiated in partnership with local authorities
A new series of cultural events was planned to drive visitor engagement and spending
Retailers were helped to adapt their offer to match emerging consumer preferences
A collaboration among restaurants was established to meet the dining needs of BID visitors

Results:

Within a year, the BID saw a 20% increase in foot traffic, improved business satisfaction scores, and stronger stakeholder support. Market research enabled the BID to ensure it remained responsive to evolving trends, reinforcing its value to local businesses and the wider community.

If you would like to find out more about how we work with Business Improvement Districts, please get in touch

CASE STUDY

How market research transformed the strategy of a large Business Improvement District

Case Study Key Points

Case Study

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