2020 will go down in history as the year that changed virtually every aspect of our lives. Marketers have had to change strategies on a dime, but have done so without knowing what may or may not work because there is no roadmap for what will work during a pandemic. With Q4 well underway, marketers are looking ahead to analyzing the effectiveness of their campaigns ending on December 31st.
Over the course of this past year, ShopAdvisor has worked with dozens of CPG brands in executing and analyzing their marketing campaigns. It’s required a more intense focus on determining the right elements, variables and models to consider when analyzing campaigns. With this mind, we thought we would share some of the things we’ve discovered that are more important than ever during this time of uncertainty.
Careful planning is more critical than ever
With the Covid 19 infection rates hitting different parts of the country at different times with varying intensities we are seeing states react differently. This creates more challenges on how and where campaigns should be focused. There are a host of other questions as well, including: Is shopper activity down or up in the region or state? Has product availability been affected by delays in the supply chain? Will special promotions or incentives motivate shoppers to visit physical locations?
Determining the right testing methodology
Deciding which methodology is best is harder than ever. Traditional AB test and control methodologies are always a starting point, but are fraught with uncertainties. For example, does YOY testing have any validity given 2020 is such an anomaly? Even looking at comparing prior periods within 2020 has its own sets or problems. For example, back in the spring when the country was first understanding the potential impact of Covid and consumers were hunkering down, some brands saw a huge spike in sales as shoppers bought more than usual to stock up their pantries. Immediately following those weeks some marketers saw a dip in sales. But was that due to products unavailable because of shortages in the supply chain or just less shoppers?
Assessing the Big Box Retailer Influence
More often than not, it’s difficult to get sales data directly from some of these retailers. For many you will need to involve third party syndicated data providers such Nielsen, IRI and SPINS. If your campaign includes them, along with national and regional grocery chains, convenience stores and even independent mom and pop operators you will need to be extra careful in assessing the sales lift delivered for a campaign. Cross contamination of promotions delivered across DMAs, regions and states where there is a lot of geographic overlap between locations can complicate matters greatly. This points back to our first item: plan, plan, plan.
Getting “On the Fly Insights”
Keeping your finger on the pulse of your campaigns is so critical. More than ever, we’ve encountered requests to scale back, focus more resources in some areas or stores versus others, and even put everything on hold. To do this smartly you must have a means to assess the campaign sales as close to real time as possible. To accomplish this you should have access to an automated system that includes a dashboard which provides a means to view results across all variables, including individual SKUs, halo products, DMAs, regions, states, time frames and more.
Having a Comprehensive Sales Lift Analysis
So after putting all the work in to run a successful campaign under the present circumstances, how do you really know the effectiveness of the campaign? By adding a sales lift study to your ShopAdvisor campaign, or just an individual study for an upcoming campaign, you can gain valuable insights including key performance indicators that tell more of the story than just the sales figures. This detailed study will not only provide you with specific results, but a blueprint for future campaigns. Make sure you get the best ROI and ROAS by including a sales lift analysis and discover the ShopAdvisor difference.
If you’re interested in learning more about ShopAdvisor’s sales lift solutions and additional omni channel proximity marketing solutions for powering campaigns that drive consumers’ path to in-store purchases, click here