Retailers in the home improvement supplies market face several challenges in terms of increasing sales revenue and market shares. In a rapidly changing market landscape, the need to measure the success of digital marketing strategies has increased considerably. There is also a possibility of choosing and monitoring metrics that add zero value to the marketing spend. Therefore, identifying the right marketing channels and the right metrics to measure its effectiveness is vital for any retail organization’s growth.
Campaign analytics study comprises of data from various digital advertising metrics including cost per click and click-through rate, which is used to drive the marketing efforts forward. We leverage our expertise in campaign analytics and help clients understand the effectiveness of digital campaigns and analyze their impact on multiple stages of customer engagement with the organization. Our campaign analytics solutions also help increase the growth in ROI by enabling a targeted approach to marketing.
Optimize marketing campaigns and make better decisions to improve MROI, get a holistic view of the effectiveness and efficiency of marketing spends, identify the right marketing mix for your brand, all with Quantzig’s advanced marketing analytics solutions. Request a free demo to learn how.
By studying the interaction of customers on different online platforms, Quantzig’s campaign analytics assessment understands the effectiveness of marketing strategies and improve sales performance. Moreover, our campaign analytics services also help global retail companies in realizing the effectiveness of their marketing initiatives and understand the strategies followed by their key competitors.
The Business Challenge and Quantzig’s Approach
To explore future growth opportunities, the client, a leading multinational home improvement supplies retailer based out of the US approached Quantzig to evaluate the effectiveness of their digital campaigns. With marketing spend utilized across various channels and touchpoints, the organization was oblivious as to which channel was contributing to the profit and ROI from marketing investments of the company. With a steadily increasing customer base, the retailer clearly needed to quantify the contributions from various digital campaigns.
The primary objective of this campaign analytics assessment was to evaluate the effectiveness of multiple digital campaigns and analyze their impact on various stages of customer engagement with the organization.
To meet the specific requirements of the retailer, our team collaborated with the client to develop a solution that helped them in predicting the latent life stage of its customer based on journey mapping across the digital landscape. We also developed a digital strategy derived from the campaign analytics solution.
Identify inefficiencies and opportunities in your marketing activities and drive higher conversions with sound insights with the help of Quantzig’s advanced marketing analytics solutions. Request a free proposal to know more today.
Business Benefits and Insights
With the objective of helping the leading multinational home improvement supplies retailer evaluate the effectiveness of their digital campaigns, a campaign analytics team with extensive experience in conducting various data analytics projects for leading global retail companies was deployed. By analyzing information from various campaign spend data, sales data, web traffic data, channel-specific attributes, and digital advertising metrics, we helped quantify the marketing effectiveness of channels and campaigns in terms of ROI, revenue, contributions, and incremental sales.
Additionally, an in-depth analysis of channel-specific attributes was also carried out to predict the effectiveness of digital campaigns at various stages of customer involvement. In just a few weeks, our campaign analytics assessment showed improvement in responsiveness to marketing campaigns. The client could achieve growth in ROI by following a more targeted approach to marketing. The team evaluated the effectiveness of those marketing campaigns during each stage of customer engagement using a variety of traditional and non-traditional KPIs at various levels of granularities. At the end of the assessment, the solution helped in identifying the right campaign/channel for each customer stage based on the association between marketing response and marketing efforts. They also realized that email campaigns proved to be more effective than other digital campaigns in the case of loyal customers. Also, self-generating decision boards were developed by automating the report generation process and embedded with business rules to ease the decision-making process. Our campaign analytics team developed a Hidden Markov Model-based stage prediction algorithm by analyzing customer touchpoint history and predicting the current customer state defined by the level of engagement. The implementation of this targeted marketing strategy increased the marketing response by 2x.
Want to know more about our campaign analytics solutions? Contact our analytics experts today.