Campaign Analytics to Improve Marketing Strategies for Retailers in the Global Market
Quantzig’s recent study on campaign analytics engagement for a global home improvement supplies retailer assures 1.6 times improvement in the responsiveness to various marketing campaigns.
Current trends in the campaign analytics market
The success of any digital marketing strategy is valued by the increase in sales revenue and market shares. Right marketing channels and accurate metrics to measure its effectiveness is vital for any retail organization’s growth, hence, there is an increase in the adoption of digital marketing tools in the retail sector. Several retail leaders are formulating marketing strategies using campaign analytics engagement that uses data from various digital advertising metrics, including cost per click and click-through rate. This tool helps assess the efficacy of digital campaigns and analyze their impact on multiple stages of customer engagement. The campaign analytics team at Quantzig estimate at least 17% growth in ROI if retailers follow a more targeted marketing approach.
Personalization is the solution for new age marketing and boosting sales performance. Various retail giants in the global market are using data analytics to analyze consumer data on buying preferences and customize offers that suit the end-users need. These are the smart marketing trends that set retailers apart from one another. Segmenting the consumer base will allow companies to launch marketing initiatives that are tailored to suit the target audience and will increase consumer retention and brand loyalty.
Identifying the correct channel for marketing
Campaign analytics helps evaluate the effectiveness of digital marketing initiatives and identify the various channels and touch points. Choosing the correct channel for marketing will contribute to the profit and help calculate the ROI of various marketing investments. Moreover, digital marketing channels also help companies attract new consumers and retain the older ones for a longer duration. Establishing multichannel campaigns will increase the visibility of product and services and will promote prompt consumer actions.
Importance of social media and mobile technology
Designing ad campaigns specifically for mobile devices and social media will help retailers expand their business to niche markets. Technological evolutions will help marketers launch advertisements that are more intuitive and interactive, attracting the consumers’ attention immediately. Visualizations on social media platforms are gaining immense popularity in the market, helping companies to collect data from these campaign analytics to formulate important business decisions.
Outcomes and solutions
Quantzig’s campaign analytics assessment is specifically designed to help global retailers understand the effectiveness of their marketing initiatives and evaluate strategies followed by their key competitors. Some of the solutions offered are as follows:
- Analyze information from various campaign spend data, sales data, web traffic data, channel specific attributes, and digital advertising metrics
- Quantify marketing effectiveness of channels and campaigns regarding revenue, ROI, contributions, and incremental sales and guarantee double digit overall sales through digital channels
- Analysis of channel specific attributes that predict the effectiveness of digital campaigns at various stages of customer engagement which resulted in 17% of growth in the ROI
- Offer a variety of traditional and non-traditional KPIs at various levels of granularities
- Develop self-generating decisions board by automating the report generation process and embedded business rules for decision making
The complete case study on campaign analytics engagement for a leading home improvement supplies retail company is now available.
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- Merchandising Analytics Engagement for a Leading Retailer in the US
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