In optimizing Digital advertising efforts, using advanced data intelligence, we were able to measure its effectiveness on various channels (e.g. Google adwords, Facebook, impressions, etc.) for both online and in-store sales, achieving a more accurate Return on Investment (ROI).
While marketing teams have been relatively quick in adopting and embracing digital channels for advertising and marketing purposes, “brick and mortar” still remains the major source of revenue in most industrial sectors. With this in mind, linking online advertising to online sales requires little effort and technical know-how, however linking digital advertising to “through the door sales”, whether in stores or agencies, is not straight forward.
By analysing digital CTR, advertising impressions, cookies, redemption (or loyalty) cards, credit card transactions, Nextbit was able to implement a link between digital marketing data (often stored on Digital Marketing Platforms) and the physical store data on internal transactional databases.
Our analysis, based on transactional data for some of the UK’s largest retailers, showed that customers do not have homogeneous behaviour, their choice of sales channel preference may vary based on a number of factors like: ticket item sale, level of technical sophistication & innovation (referred to digital technology but also texture or materials of the sale item), type and number available features (size, material, colour, functionalities). So different customers will have different sales channel preferences for different items.
By efficiently linking the digital world to the offline “traditional” world, we are able to get a complete picture of the effectiveness of digital advertising efforts; we were able to calculate a realistic Return on Investment (ROI) on digital advertising and get detailed insights on the effectiveness disparities for: item or service type, advertising channel used, targeted customers, campaign utilized, etc. We optimized advertising spent based on these results and truly measure the effectiveness of marketing strategies.