4 Ways Digital Marketing Can Drive In-Store Results
Marketers know they want to use data and advanced marketing analytics to drive offline sales, and the research and experts show these tools and approaches can be powerful assets for marketing teams. For an example from the retail space: Andrew Frank, vice president and analyst at Gartner, recently told AdExchanger that the brick-and-mortar retail ecosystem is the “best unmilled supply of data out there.” It’s under-leveraged information, he said, and it’s ready for smart marketers to mine, analyze, and put to use in tandem with digital strategies.
Let’s consider the following four points — key ideas about what we can do with analytics and digital marketing, linking online and offline opportunities to drive success at physical points of sale.
- We know that digital helps drive offline sales. Recent MarketShare analyses illustrate how digital marketing can influence real-world purchases. For example, MarketShare found that Twitter helped contribute to $716M in US auto sales for 20 nameplates in 2013, and that Twitter contributed to 18% of all UK cinema ticket sales over a 3-year period. We also found digital advertising to be a significant driver of US movie ticket sales, too.
- The right digital/offline mix drives offline sales even further. It’s not just that digital marketing drives offline sales. With the right marketing mix—including the right balance of offline and online marketing investments—digital works even harder to drive offline sales. For instance, our analysis of Twitter’s impact on the automotive space found a 19% higher return on TV investment when marketers coordinate TV with Twitter. In the UK, TV ads for new film releases produced 8% more ticket sales if the movie was advertised on both TV and Twitter, versus TV alone. And as our analysis of 26 major US action films found, maintaining a core level of TV and other offline investments, while increasing digital spend by 25%, would have helped increase marketing-driven box office revenue by 34% for the movie releases analyzed.
- The right marketing can better optimize digital to drive in-store sales. The results above are only the beginning of the argument for digital, marketing analytics, and how to apply all this to offline approaches. New analytics developments are helping brands connect the dots from digital to in-store like never before. For example, one resource that physical retailers often lack is large-scale banks of anonymized data to mine for online/in-store connections—along with the big data technology to turn all that data into insight. A recent solution to solve that information gap includes the efforts of MarketShare and its partner Acxiom. As the two leaders align in-store data, loyalty assets, and other sources, retailers can now leverage customer information they couldn’t previously tap--to drive digital marketing for better brick-and-mortar results.
- Anticipatory analytics are a key next step for in-store marketing reach. Imagine that your customer gets a helpful and wanted prompt on their smartphone as they enter your showroom, offering them an actionable deal on the merchandise that data tells us they already want to buy. That’s a key result possible with anticipatory analytics, and it stands to drive a new breed of actionable experiences for in-store consumers. “These highly sophisticated analytics are able to bob and weave in reaction to actual customer choices and alternatives, providing insights that make marketers a whole lot smarter about how, when, and where to invest their ad dollars,” wrote Daniel Kehrer, Vice President of Marketing at MarketShare, in a recent Forbes article. “In essence, the brand can use adaptive, ‘situational selling’ that allows it to quickly change marketing tactics based on the specific individual and situation.” And, if that approach appears in ways that online retailers such as Amazon are already enacting — prepping predicted orders even before online shoppers actually order them — your sales-floor stands to react just as powerfully. In-store, you can meet the incoming customer with what they mean to buy: it’s in hand, it’s ready for checkout, and your consumer is happy.
If you’re ready to take a deeper look at how to connect your online marketing and offline sales, contact Neustar MarketShare to learn more.