SXSW 2015 Panel: How Data Can Help Brick & Mortar Businesses Thrive
Despite the hype that Amazon and other e-com sites receive, it is estimated that 94% of US retail sales still happen “In the Real World”. Yet precisely because brick & mortar businesses rely on their physical locations to drive sales, they often don’t have the same rich data sets available to online retailers. Worse, the data they do have is often siloed between different departments and in different databases. So they don’t connect the dots for potentially transformative insights into customer behavior, media vehicle effectiveness, cross-sell opportunities, or new approaches for dealing with competitors. This panel will discuss strategies and challenges in combining media, social, and sales data to improve understanding across an increasing number of online and offline data sets. We will present real-world examples of how multi-unit retail business are connecting store sales, media impression, and local social engagement data to drive actionable insights and real-world results.
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SXSW 2015 Panel: How Data Can Help Brick & Mortar Businesses Thrive
- 1. #DigitalBricks How Data Can Help Brick & Mortar Businesses Thrive
- 2. Brad B McCormick Chief Digital Officer Moroch Adver5sing • Mul5-‐Unit Retail Marke5ng • Brand Adver5sing • Paid, Owned, Earned Media Integra5on Chris Treadaway President & CEO Polygraph Media • Social Media & Big Data • Decision Driven Marke5ng • Author: Facebook Marke;ng, A Hour a Day Dr. Edo Airoldi Associate Professor Sta5s5cs Harvard University • Media AHribu5on Modeling • Sta5s5cal Methodologies • AB Test in Complex Systems Speakers
- 4. Retail Spends Most on Advertising
- 5. "Half the money I spend on advertising is wasted; the trouble is I don't know which half.” -John Wannamaker New York Retailer 1874
- 6. Big Data to the Rescue?
- 7. The Vision Store Sale & Transac5on Data Localized Social Media Data Na5onal & DMA Specific Media Impression Data Na5onal & DMA Related Economic & Local (i.e. Weather) Data
- 8. The Vision Store Sale & Transac5on Data Localized Social Media Data Na5onal & DMA Specific Media Impression Data Na5onal & DMA Related Economic & Local (i.e. Weather) Data BeHer Insights, BeHer Campaigns, BeHer ROI, Less Waste, Less CluHer
- 9. The Reality Store Sale & Transac5on Data Localized Social Media Data Na5onal & DMA Specific Media Impression Data Na5onal & DMA Related Economic & Local (i.e. Weather) Data
- 10. The Reality Store Sale & Transac5on Data Localized Social Media Data Na5onal & DMA Specific Media Impression Data Na5onal & DMA Related Economic & Local (i.e. Weather) Data • Archaic POS Systems • Employee Era • Cadence & Timing of Reports • Frequency & Reach Duplica5on • Changing Customer Habits • Cadence & Timing of Reports • User Opt-‐In • Outdated Bios • Loca5on accuracy • Loca5on at moment of engagement • Correla5on vs. Causa5on • Cadence & Timing of Report
- 11. Store Sale & Transac5on Data • Archaic POS Systems • Employee Era • Cadence & Timing of Reports Weekly Sales Reports, by DMA, By Store
- 12. Store Sale & Transac5on Data • Archaic POS Systems • Employee Era • Cadence & Timing of Reports Week to Week vs. Comp Sale Analysis
- 13. Localized Social Media Data = Above Average Social Engagement = Below Average Social Engagement • User Opt-‐In • Outdated Bios • Loca5on accuracy • Loca5on at moment of engagement Real Time Social Engagement Segmented by DMA
- 14. Localized Social Media Data • User Opt-‐In • Outdated Bios • Loca5on accuracy • Loca5on at moment of engagement Weekly Fan Engagement Analysis By DMA
- 15. Localized Social Media Data • User Opt-‐In • Outdated Bios • Loca5on accuracy • Loca5on at moment of engagement Understanding DMA-specific Social Trends
- 16. Localized Social Media Data • User Opt-‐In • Outdated Bios • Loca5on accuracy • Loca5on at moment of engagement Programmatic Media Buys Initiated by Social Activity.
- 17. Na5onal & DMA Specific Media Impression Data • Frequency & Reach Duplica5on • Changing Customer Habits • Cadence & Timing of Reports Tracking Largest Ad Spend Against Changing Trends.
- 18. Na5onal & DMA Specific Media Impression Data • Frequency & Reach Duplica5on • Changing Customer Habits • Cadence & Timing of Reports Correlating DMA Media Dollars to DMA Transactions.
- 19. Na5onal & DMA Related Economic & Local (i.e. Weather) Data • Correla5on vs. Causa5on • Cadence & Timing of Report How Weather Influencers Local Economic Activity.
- 20. The Vision – In Beta.
- 21. Questions?
- 22. #DigitalBricks How Data Can Help Brick & Mortar Businesses Thrive