Retail Marketing Analytics:
How Understanding your Customers Purchasing Patterns will Maximize Response Rates, Reduce Campaign Costs and Increase Customer Engagement.
Breakfast at 7:30 am
Presentations at 8:00am to 11:00am
St. James Cathedral Centre (Lecture Room)
In today’s dynamic retail environment, consumers are often overwhelmed by the volume, variety and medium from which they receive offers from retailers (often generic). As such, campaign effectiveness can be “hit or miss”, and will typically lead to wide ranging response rates from campaign to campaign. For the retailer, this means spending more and getting less over time. Many retailers understand that the most effective marketing campaigns are those that are personalized and contextual based on the needs of a consumer.
- Did you know men buy winter coats only when its cold enough to wear one?
- When someone buys camping gear, are you automatically sending them a discount on insect repellent?
- Did you know that a large percentage of your new customers are Vegan?
For others in your organization, understanding the client’s needs is essential to stocking the right levels of inventory.
- Are you positioned to capitalize on the latest viral trends?
- Why are snow pants purchases up in August? and how can I anticipate this?
But how can this be accomplished successfully and consistently?
The answer is by leveraging analytics as a competitive differentiator.
In this session, you will learn how smarter intelligence will allow your organization to uncover the unbiased insights that will act as the input to developing contextual product offers for targeted recipients. All of this can be accomplished using the transactional sales data that you possess, and combining it with other available data sources such as the weather & social data to more accurately understand the buying patterns of your customers. By doing so, you will be able to more effectively design, plan and execute campaigns across a variety of channels that will maximize response rates, reduce costs and increase customer engagement.
Who Should Attend:
- CMO/ Marketing Analysts
- Digital Marketing Managers
- Merchandising– Buyers
- Chief Analytics & Data Officers
- Data scientist
Campaign Marketing Challenges & Solution Demo
Jason Buffone, Analytics Executive, IBM Canada
Introduction of Facilitators:
Khush Gill, Analytic Architect, IBM Canada
Sepi Seifzadeh - Data Scientist & Machine Learning Specialist, IBM Canada
The team will showcase the workflow of taking their source data already in possession with accessible external data (e.g. weather or social media) that can be used to enhance the clues necessary to personalize and contextualize campaign offers. At the heart of this workshop, attendees will become accustomed with the key analytic capabilities necessary to fulfill this type data-driven approach to solving retail campaign marketing challenges.
The workshop will be an interactive session whereby the overview demo will be expanded upon to show how real-time campaign offers can be incorporated into other aspects of your campaign and inventory management strategies (e.g. leveraging mobile app location data to send offers if customer is nearby).
Throughout the workshop, we will discuss best practices, and considerations for introducing a data driven approach to developing effective marketing campaigns.