With the holiday season approaching and the increasing shifts in shopping patterns amidst the continued pandemic, what are your teams doing to prepare and learn from the data? No doubt, this past 18 months has been a learning opportunity for anyone in a digital analytics role.
Extended holiday shopping periods, first-party data collection, and optimizing customer segments and promotions that push the needle are all on the horizon for this holiday season. Coupled with staffing shortages, the demand for better executive level reporting and making better use of data is imperative. Digital analytics teams are under more pressure than ever.
According to ey.com, “The future of CG go-to-market strategy is about using data to identify the right consumers and then applying digital technologies to meet them at the right place, with the right message at the right time on their journey to help ensure your brand’s value in the lives of your consumer segments.”
With all of this in mind, here are three ways we’re supporting our D2C/ecomm/retail clients this fall to better ready their teams and optimize performance:
Gain insight through segmentation and data modeling to enhance campaign performance
At InfoTrust, we can help you get prepared to maximize performance across your audiences and tactics. By mining your analytics and user data, we can build audiences to drive increases in revenue, average order value, retention, acquisition, and loyalty. Additionally, using Google’s new privacy-centric data warehouse Ads Data Hub, we can further refine your campaigns by analyzing the overlap across audiences and joining with other first-party datasets, like offline conversions. Finally, by bringing in the advanced capability of modeled value-based bidding, we can help you adjust your bidding based on the user’s predicted future behavior to drive even higher ROAS. As the holiday season is crucial for many D2C retailers, it’s important to be ready with a portfolio of audience strategies that are both tailored to your customer base and flexible for the evolving market.
Alerts to optimize holiday performance or spot abnormalities
We are here to support your teams during peak season and ensure that your spend is optimized, mitigate any loss of data, and drive ROI. Our tools can help surface performance in real time and predict future conversions to help your marketing teams push spend to the top performing campaigns and respond immediately to any blocks during the highest revenue producing days.
Through our Tag Inspector real-time tool, we can monitor performance on-site as your users engage. We can set up alerts and allocate an analytics consultant to be available as a resource should any anomalies occur.
Build out real-time dashboards for intraday decision making and tracking performance Y/Y
If your highest performing campaigns are on Black Friday or Cyber Monday, think about setting up your marketing ‘war room’ and plotting actuals against forecasts to optimize spend in real time.
As our clients work towards standardized data collection and visualization tools that can enable rapid discovery, our teams can help you curate which information would surface actionable data to help with responsiveness.
Holiday Post-Mortem + Planning for 2022
Post holiday learnings and budgeting for the new year
Lean into your learning and take your 12-month file (including two holiday seasons’ worth) and provide more insights and context to your teams when determining how to allocate the budget.
This data can be used to build a CLTV or attribution/MMM model that allows your teams to get closer to the run phase of data analytics maturity, opening up the ability to:
- Target (high/medium/low value, loyal vs non-loyal)
- Nurture customer relationships/prevent churn
- Personalize customer journeys
- Optimize/custom experiences for top customers (i.e. customer centricity)
- Acquisition (via look-alike audiences of highest value customers)
- Campaign optimization through better cost of acquisition
We are here to help guide you through, optimize your efforts, and help facilitate your data analytics goals this holiday season and beyond.