Webinar: Challenger brand strategies for CPG success

As a challenger brand in the CPG space, how can you stand out among the corporate brand portfolios and increase awareness for your products? With a limited budget, and in the face of ever increasing options, it’s critical to carefully consider where your marketing dollars will go the farthest.

In this webinar on demand, Shopkick brand expert Michael Reda talks about how challenger brands can create efficient, measurable and meaningful results.

You’ll learn how to:

  • Increase brand awareness without eroding your profit margin by offering rewards
  • Reach new customers before they even enter the store
  • Gamify the shopping experience to keep customers coming back
  • Effectively track an omnichannel campaign for deeper consumer insights

 

Online to offline attribution with Visa

Consumers seamlessly traverse channels throughout the shopping journey, demanding highly personalized, mobile-enabled, and frictionless shopping experiences. In delivering these omnichannel experiences, retailers can struggle to attribute the impact of digital marketing on physical shopping experiences.

In 2016, Deloitte reported that digital’s influence on in-store sales surpassed 50%, influencing 56% of all in-store retail sales.  Yet understanding this influence on a shopper-level is still a challenge for most retailers.  In fact, 67% of retail executives said their greatest obstacle in offering an omnichannel experience is tracking customer analytics across channels.

Despite roughly 90% of retail transactions still happening in stores, stores lack the real-time data and attribution that retailers are accustomed to online. Beyond just verifying store visits, retailers want to know what customers did inside their stores. Key metrics include product engagement, dwell time in-store, purchase conversion, and whether or not the sale was incremental.

Shopkick’s partnership with Visa Decision Sciences connects the dots across the entire in-store data funnel to enable true online to offline attribution analysis.  Visa measures incremental sales impact through a  “twinning” methodology whereby a control group of unenrolled accounts is created from the Visa cardholder base to match spend behavior of the enrolled Shopkick population.

Shopkick Visa Data Partnership

Analysis from January 2017 shows significant and sustained incremental sales across Shopkick’s merchant partners — sales that would not have happened without Shopkick. On average, 57% of overall sales driven by Shopkick were incremental. Of that 57%, 73% of incremental sales was driven by new customer acquisition, and 23% was driven by increased spend of existing customers.

This ability to measure not just store visits, but also sales and incrementality will unlock the potential of omnichannel marketing, and drive growth for brick & mortar retail.