A mentor recently re-inspired me to blog. I've always enjoyed sharing the knowledge I have gained from the Advertising Industry and I've been fortunate to be surrounded by talented colleagues along the journey who have shared their own knowledge.
The topic I'm going to talk about today will cover Retail Marketing and some of the challenges being faced. Particularly with the attribution of sales to digital media channels. A client can implement tracking up to the point a consumer is on their owned website, however as soon as a consumer clicks off to a retailer owned site the data is lost and we no longer can understand which particular media or combination of media influenced the final sale. The retail giants such as Amazon, John Lewis and Currys are reluctant to include tracking and why should they. They are the sales powerhouses, they own the data and they control the market.
There are some key platforms which are exciting and in the market. Firstly, Hooklogic usually managed by a knowledgeable search expert integrates deeply with retailer partners such as Argos, learning shopper behaviours so you can show your products to the right shopper at the right time. They use a unique combination of real-time consumer intent and past shopper actions to ensure the product that is most likely to result in a sale is the one that’s shown. It’s data science at its finest.
Secondly we are seeing the emergence of Amazon Market Services (AMS), where you can reach engaged Amazon shoppers, pay only when shoppers click, optimise performance with detailed sales reports and reach the right customer.
These platforms are helping to solve real business challenges in the retail world and closing the data gap which means media agencies can start to effectively optimise budgets and focus on delivering ROI for clients through real time data analysis.
The topic I'm going to talk about today will cover Retail Marketing and some of the challenges being faced. Particularly with the attribution of sales to digital media channels. A client can implement tracking up to the point a consumer is on their owned website, however as soon as a consumer clicks off to a retailer owned site the data is lost and we no longer can understand which particular media or combination of media influenced the final sale. The retail giants such as Amazon, John Lewis and Currys are reluctant to include tracking and why should they. They are the sales powerhouses, they own the data and they control the market.
Often expensive econometric modelling isn't an option for clients or we simply don't have all the data to make it realistically work, so what can we do? We can look to maximise the platforms we have true visibility on and what we know delivers performance that now go beyond Search, Affiliate and Programmatic Advertising.
There are some key platforms which are exciting and in the market. Firstly, Hooklogic usually managed by a knowledgeable search expert integrates deeply with retailer partners such as Argos, learning shopper behaviours so you can show your products to the right shopper at the right time. They use a unique combination of real-time consumer intent and past shopper actions to ensure the product that is most likely to result in a sale is the one that’s shown. It’s data science at its finest.
Secondly we are seeing the emergence of Amazon Market Services (AMS), where you can reach engaged Amazon shoppers, pay only when shoppers click, optimise performance with detailed sales reports and reach the right customer.
These platforms are helping to solve real business challenges in the retail world and closing the data gap which means media agencies can start to effectively optimise budgets and focus on delivering ROI for clients through real time data analysis.
It would be great to hear your thoughts so feel free to comment!
Sources: ams.amazon.co.uk, hooklogic.com
