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Shopper Tech Update November 22, 2010 - Volume 1, Issue 1 |
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| Greetings! |
Welcome to the first edition of Shopper Tech Update, the
bi-monthly newsletter of the Shopper Technology Institute (STI). As you may know, STI is the producer of the LEAD Marketing Conference as well as an alliance partner of CPGmatters.
We aim to keep you up-to-date on trends and developments in loyalty, engagement, analytics, and digital applications. Please send us your comments and suggestions for future issues.
John Karolefski
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| Feature Story | |
 Five Key Mistakes to Avoid
When Analyzing Loyalty Card Data
Loyalty programs can provide big payoffs, but
they need to be planned, executed and evaluated professionally. Most importantly, the data gathered from these card-based programs need to be analyzed correctly.
Michael Schiff, managing partner, Partners in Loyalty Marketing in Chicago, lists five common and potentially harmful mistakes when analyzing loyalty program data. They can be grouped into two types: data errors and goal-related miscues.
"In talking to retailers and manufacturers, most of the mistakes to avoid can be overcome if you put as much time into planning for the evaluation as you do into planning for the execution,"
he advises.
Mistake 1: Failing Basic Math
The first big data mistake in analyzing frequent shopper data is basic calculation or mathematical errors...
read entire story |
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| Market Watch | |
 Standard Metrics Developed for In-Store Shopper Research
A set of standard metrics has been developed to better quantify shopper behavior in retail environments. The measures aim to enable retailers and consumer product manufacturers to accurately measure the impact of in-store marketing and other efforts aimed at influencing shopper behavior and increasing performance.
The metrics were by VideoMining Corporation, the leading provider of in-store intelligence for shopper marketing. They are grouped into four broad areas that represent key aspects of in-store shopper behavior and interaction: Exposure, Engagement, ConversionandSegmentation.
The most valuable applications of the metrics are measuring category or brand performance, identifying opportunities, and pinpointing "impact points" along the path to purchase where actions can be taken to influence in-store behavior.
"We were excited to have access to hard numbers that represent what shoppers actually do while in the store. This gives us the ability to gauge the true impact of initiatives using VideoMining's collaborative in-store platform," said David Haubert, Vice President of Business Development and former Director of Manufacturer Collaboration at Safeway.
The platform and the creation of standard metrics are designed to enable manufacturers to more effectively allocate dollars and achieve the best ROI on their efforts...
read entire story
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| Executive Summary |  Shopper-Centric Solutions for the New Normal The power shift from manufacturers to retailers to consumers has been well documented. How trading partners address the question of how to target consumers in an age of omnipresent technology, information overload, economic stress and high shopping expectations will determine the winners, losers and those who just tread water. Strategies for developing shopper-centric solutions in today's New Normal environment were presented by speakers at the 2010 LEAD Marketing Conference held in Rosemont, Ill. (LEAD, produced by the Shopper Technology Institute, stands for Loyalty, Engagement, Analytics and Digital). It's not enough to look at current trends in shopper behavior. As Stephen Horne, associate partner, business analytics and optimization, consumer products, IBM Global BusinessServices, said: "We are looking at the future value of the customer. We are looking at the consumer as being the driver of brand strategy for the future and how do work with the consumer to move that brand strategy that parallels their future behaviors and future buying patterns." The key themes of the conference were: - Using shopper data more effectively
- Getting closer to the shopper
- Re-imagining the in-store experience
- Using social media and mobile marketing
To read an executive summary of all the presentations at LEAD, click here. |
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