Driving Retail ROI via Audience Insights
One year after implementing a new CRM, basic data- driven operational processes, and relevant adoption training, a major UK based grocery retailer saw major increases in their understanding of audience behaviors, segmentation, and targeting. These insights led directly to increases in business metrics including sales, operational efficiencies, and Return on Investment (ROI).
OPERATIONAL MARGINS
18% increase
SALES INCREASE
24%
RETURN ON INVESTMENT INCREASE
31%
MARKETING SPECIFIC ROI INCREASE
X1.5
Using data to understand audience behaviors, attitudes, and trends is imperative if a company aims to drive audience engagement and ultimately deliver measurable impact. A national UK retailer inherently accepted this truism, had access to a wealth of data, and yet struggled to identify and connect with current and future audiences.
Data sets were siloed, disparate, and unreliable. The Customer Relationship Management (CRM) system, for which they were paying thousands of dollars a month, was not used optimally, if at all. In the absence of consistent and centralized data tools and processes, teams resorted to patchwork solutions, further exacerbating the problem. The challenge was threefold- to up-level data knowledge, to create appropriate and collaborative work processes, and to fix the tools being used, or introduce new tools, to enable optimal data management and utilization.
Over 12 months, we implemented a new dynamic CRM that brought together internal and external audience data and served as the company’s new operative nerve system. With it, we introduced and implemented a new approach to leveraging data filtered throughout the organization. This included combining new tools, optimization of current tools, identification of data-driven processes, and training across key functions and teams, including:
1
Identify and prioritize current challenges in data tools, processes, and knowledge.
2
Design and delivery of data-driven decision-making across key parts of the organization.
3
Integrate and train on a new, fit-for-purpose CRM.
5
Create new privacy and compliance protocols to protect audience Personally Identified Information (PII).
4
Implement predictive behavioral modeling and AI to drive audience discovery and engagement.