Sales Lift Dashboard
2020 will go down in history as a year to forget but also remember. While the Pandemic did not bring everything to a complete halt it did create unforeseen changes in the dynamic between consumers, brands and retailers. The uncertainty resulted in changes in shopper behavior, slashed advertising budgets, supply chain disruptions, lost jobs and store closings. And although there is good news on the horizon regarding effective vaccines for COVID-19, 2021 will present many of the same challenges and uncertainties as 2020.
For CPG marketers and agencies, this means unprecedented challenges in ensuring promotional campaigns are more strategic in their timing, targeting, reach, flexibility, and effectiveness. Perhaps the most important of these is effectiveness and being able to assess it in near real time so that adjustments can be made daily if need be.
To meet this challenge, ShopAdvisor introduced a new dashboard service in 2020, which provided its brand and agency customers with unprecedented insights into campaign performance as it was running. This allowed customers to optimize their advertising spend on Region/States/City/ZipCodes where we saw the greatest lift in sales and eliminate slower or non-performing locations. Below is an example of a view from the ShopAdvisor dashboard for a national campaign comparing SKU performance before and during the campaign while also highlighting the impact of a spike in consumer hoarding behavior as he pandemic became more widespread in the spring.
The ShopAdvisor dashboard applies multiple methodologies to gauge in lift, taking into account prior campaign period sales versus campaign period sales and using one of several a pre-defined test and control constructs during the Campaign period in order to correlate lift in sales to impressions delivered. The example above started off as a nationwide campaign and transitioned to a regional focus with most of the ad inventory delivered to top five states where we saw an uptick in sales.
The ShopAdvisor dashboard provides customers with ability to drill down into campaign results six Levels deep, starting from Week/Region/State/City/DMA/(Test & Control) level sales. The following are some screen shots of these reports.
To view our proprietary Sales Lift Dashboard and to get a sense of what to expect click on the link below.