A retailer client considering pulling back on a certain marketing vehicle because “it wasn’t working.” The supporting evidence was the same-store sales percentage growth numbers (“comps” in retail parlance) of the markets in question. Of the eight markets in question, 5 were down, 2 were… Read More »Using Big Tools to measure Small Impacts
We’re analytic practitioners, but we’re constantly preaching that there’s an art and a science to most of the decisions that retailers make. Circular design, however, is one of the areas where very loud art often beats out very sound science; it’s no surprise that print… Read More »The Weekly Flyer is Broken. Here’s Why.
As data and analytics become more important to firms’ strategies, senior leaders are demanding more insights and more depth from their analytics teams (whether internal or 3rd party). But many are receiving only thin answers to narrow problems. When they ask clarifying questions, they’re given complex mathematical… Read More »3 Signs You’re A Hostage to Analytics
One retailer’s efforts to bring back the print circular’s ROI. There are many methods retailers use to make their circular work harder, but the fastest way to improve performance is by using analytics to help select products – particularly on the covers.
We’re asked all the time for some good books around analytics, big data, and their applications to business. We love what we do, so after a short poll around the office, we put this together.
The standard definition of a Key Value Item (KVI) is “an item which drives the price/value perception for customers.” But we’ve found a wide variation in the actual interpretation and usage across our retailer clients. In this post (the first of three on KVIs) we’ll lay out four common definitions and grades each of them on how well they can actually be put to use.
Why is this important? Every single time a customer sees a price on your shelf, they update their opinions on your price and value equation. Understanding which products have large impacts and which have small is crucial to optimizing your pricing strategies (both promotion and everyday).
As part of an ongoing conversation with some thought leader clients in the sports apparel sector, we discussed how to best measure PR activities. They were wondering whether, given another dollar, they would invest it in PR efforts or into more tactical advertising campaigns. We converged on three central themes to help shed light on the answer:Read More »Measuring the ROI of PR Activities: 3 Central themes
We give a presentation to a roomful of NYU Stern MBA students this week on the state of Marketing Measurement and Accountability. As always, the students had great questions and insights, especially around digital marketing. This time, one of the students asked “in five or ten years, how much of marketing spend will be going to digital?”
It’s a great question, especially if we push it to the extreme and rephrase it as “Could digital be 100% of marketing budgets?”
Our answer? Yes, but only for high-engagement products.
Read More »The future of Digital Ad Budgets
A paper from the National Bureau of Economic Research concluded that the ROI of search engine marketing are “a fraction of conventional estimates” and in the studied company “become very negative.” How can we reconcile this with what our clients believe and the fact that they’re spending millions with Google?
Read More »Your Google Adwords ROI is -75%