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BizReport : Ecommerce archives : December 14, 2015

Top 3 tips to better optimize data

Data optimization is not new to the online space, yet many brands and retailers continue to struggle to find the right combination of data and campaign strategy. Here are our top tips to strengthen data strategy.

by Kristina Knight

Ecommerce becomes a bigger part of marketers' strategy every day, but ecommerce cannot be the sole focus. Combining ecommerce with brick-and-mortar and adding to those cornerstones the mobile and social spaces, it can be very difficult for brands to cope.

How can brands better use data to strengthen their marketing strategy?

First, do the measurements.

"Continuously measure your merchandising efforts by quantifying what's happening in store. It's now totally possible to track this data (e.g. display promotion presence, on-shelf availability, new item speed to shelf) at the store level routinely," said Justin Behar, CEO and Founder, Quri.

Second, integrate

"In-store data should be integrated with your existing planning and scanner data assets. This expands the value of all 3 data sets, and will improve the ROI from your merchandising efforts by clearly linking what was planned and sold to why it happened," said Behar. "With this new stream of data now flowing through your organization, the next cycle of merchandising will improve significantly simply by cutting out programs that did not work, and doubling down on those that did."

Third, get organized

"Organize this information based on how you do business (e.g. zone, district, DMA, banner, retailer, etc.), and share it routinely! For every client we work with, we have observed that the simple act of measurement helps improve performance through better collaboration," said Behar.

Image via Shutterstock

Tags: ad data, advertising, ecommerce, ecommerce data, Quri

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