| Research |
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 What Is Virtual Shopping?
Consider these scenarios: Your brand's package been redesigned and then three months later sales start to plummet. Or your new brand is not gaining traction in the market; did you know consumers are looking for it in a different aisle?
Marketers can avoid these costly mistakes by deploying online virtual shopping studies with the findings interpreted correctly, says Valla Roth, a veteran of 23 years at General Mills and now director of communications for Decision Insight.
What is online virtual shopping? This form of research involves pre-screened consumers making product selections in a "virtual" store on a computer screen. There are typically four steps to a well-designed study...
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| Market Watch |
 Estimated Return Analysis Can Quantify ROI of New Promotional Tactics
Ongoing and rigorous evaluation is the key to every successful loyalty marketing program. In today's environment of ruthless prioritization, these evaluations are helping marketers make smart decisions quickly.
Increasingly, Partners in Loyalty Marketing (PILM) has fielded requests for results earlier and earlier in a program's lifecycle. To meet the needs of its client, PILM relies on a proprietary model called the Estimated Return Analysis (ERA), which quantifies each tactic's likely Return on Investment (ROI) prior to execution.
"We usually run this analysis in conjunction with strategic planning for next year's fiscal. Over the past eight months as operating budgets have shifted, we've been asked to run it with greater and greater frequency," said explained Michael Schiff, managing partner of PILM. The Chicago-based strategic consulting and research firm helps retailers and manufacturers grow same-store sales and consumer loyalty...
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