ISSUE 25
7 ways to increase revenue using predictive analytics Find out how you increase ROI from many different areas of your business.
INSIDE THIS ISSUE PAGE 03
PAGE 06
14% increase in abandoned basket conversion for JD Williams
Take our Digital Diagnostic
In this issue 03 Triggered Programmatic Mail Case Study JD Williams increase abandoned basket conversion by 14%.
04/05 7 ways to increase revenue using predictive analytics
06/07 News Includes details of our latest guide, as well as an update from the DMA and dates for our seminars.
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Welcome to Engage, the GI Insight magazine with the latest industry news and ideas. At GI Insight we regularly use predictive analytics to improve targeting and return on investment for our clients. Within this edition we have outlined 7 key ways you can benefit from applying this analytical approach (please see pages 4 and 5). On page 3 you will also find our latest case study, which details how we have helped JD Williams dramatically improve the conversion rate of abandoned online baskets, through applying Triggered Programmatic Mail. We are currently the only company in the UK who can offer this new and exciting marketing channel. On page 6 and 7 we also bring you a digital diagnostic offer from GI Red, as well as details of the latest DMA Email Tracker Report, and dates for our seminars. We hope you enjoy this issue of Engage. All feedback is welcome, so please do not hesitate to send any comments to marketing@gi-insight.com, or contact me through the details below. Thank you for reading Engage. Yours sincerely,
Retail Business Technology Expo 2017 Andrew Adkins Managing Director
View online
andrew.adkins@gi-solutionsgroup.com
www.gi-solutionsgroup.com/ insightengage Or use the QR code below. Download a free code reader app at www.beetag.com
If you need more information, contact me This magazine was delivered in an Oxo-degradable plastic polylope and printed by GI Solutions, 147 Scudamore Road, Leicester, LE3 1UQ. Tel: 0116 232 1711; Fax: 0116 232 1611; Website: www.gi-solutionsgroup.com. For more information contact Tara Pickles, Head of Group Marketing on 07970 263 943. We will hold your details in accordance with our Privacy Policy and may contact you by mail, email or telephone on the products and services offered by GI Solutions. If you would like to unsubscribe from the GI Solutions mailing list please email marketing@gi-solutionsgroup.com with your details.
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ENGAGE 25
Tara Pickles
tara.pickles@gi-solutionsgroup.com
07970 263 943
JD Williams convert more abandoned baskets 14% increase in abandoned basket conversions using Triggered Programmatic Mail Brief In the increasingly digital retail environment, JD Williams were challenged to demonstrate how an offline communication could be used to support the digital channels, in a new and innovative way, in order to achieve a key business objective.
Strategy Our strategy was to follow-up our existing successful Abandoned Bag email programme by targeting the nonresponding customers with a highly personalised mailing, acting as an additional prompt to encourage them to complete their orders. Timing was key, with the mailing touching down within a week of the product abandonment.
Creativity We created a highly targeted automated daily mailing, using digital print, to present a visual reminder of the abandoned products, as well as using online behavioural data to dynamically show personalised ‘most browsed’ product categories and added further value by including a cross-department push by featuring Home imagery.
Key points • +14% incremental increase in bag completion rate • Highly personalised mailing • Respond to browsing customers • Reactivate abandoned baskets • Upsell and cross-sell products • Automated campaigns including mail and email
Results ✔ R esponse rates of those who were mailed were +6% ✔ A verage Item Value of those mailed was +8% ✔ A bandoned Bag Completion Rates of those who were mailed were +14% ✔ A OV of £104 in line with responders to email campaign ✔ Q uick implementation of the programme
www.gi-insight.com
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Make the most of your budget
Increasing product sales
Using the right communication channel for the right segment of customers will make your spend more effective. Predictive analytics will tell you which channel works for which set of customers so you can tactically use your marketing budget to the best effect.
Identifying key purchasing patterns within your data will identify the products your customers are likely to buy. You can also see which groups of products are purchased together allowing you to make informed recommendations to your customers.
7 ways to increase revenue using predictive analytics At GI Insight we regularly use predictive analytics to increase ROI from many different areas of business; The most common areas of application are:
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Improving shopper experience
Improving store or webpage layout
Your customers feel valued and will return if you improve their experience. Predictive analytics identifies which segments of customers prefer which channel and respond to which offer. This improves the level of personalisation you can include in your communication and helps fulfil your customers’ needs.
Predictive analytics will inform you which products are purchased together so you can decide if you want to show them together either in store or on your website. For example, people often buy cream when they buy strawberries or wine when they buy food so strategically placed items can increase basket size.
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ENGAGE 25
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Improve customer acquisition
Reducing churn
Successful customer acquisition is about gaining more loyal customers with a high lifetime value rather than getting an influx of customers who buy once and then don’t return. Predictive analytics lets you understand the detail of your best customers so you can target your communications using the right channels and messages.
Identifying when and the reasons for customers lapsing will minimise the churn of future customers. You can engage with them at the right time and give them an offer to incentivise them to buy from you again.
At the heart of successful marketing is the ability to create effective campaigns which raise brand awareness and deliver sales. Essential principles you need to consider when creating a campaign are:
All of this can be made easier by applying predictive analytics, which is the ability to use your data to profile and predict the future behaviour of your customers. Predictive analytics is the ability to understand patterns of behaviour and identify those which will benefit you.
which customer segments will generate the highest response rate which products or services should be featured which offers and promotions are your customers most likely to respond to measurement of the generated revenue and overall campaign ROI
7 Improving stock availability When you can predict what your customers are going to buy, you can predict what stock you should carry in your store. This helps to make sure the right stock is available and reduces the chances of your either lacking the right stock, costing you money or having too much of the wrong stock which has to be discounted.
This lets you identify the right customer for the right offer at the right time. Once you are able to determine your customers’ preferences you can tailor your communications, increase marketing efficiency and ultimately ROI.
To discover how predictive analytics can benefit your business, contact us for a FREE consultation.
marketing@gi-insight.com
0116 232 1711
www.gi-insight.com
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News
PROMOTIONS, NEWS, IDEAS & UPDATES
Turning Browsers into Buyers Whitepaper You don’t have a problem driving customers to your website and have refined your ‘above-the-line’ spend to deliver visitors from clickable web links and QR codes in your emails, adverts, and social feeds. However, once visitors are on your site, your challenge is understanding the actions that they’re taking – looking at how many go on to put items in a basket and buy, or leave without checking out.
To see your checkout rate soar, download our ‘Guide to Turning Browsers into Buyers’ Download the full whitepaper www.gi-insight.com/whitepapers/ marketing@gi-insight.com
Take a Digital Diagnostic Whether you are a first-time user keen to trial digital print, or an existing user looking to improve effectiveness for your next campaign, take our digital diagnostic test.
data driven creative
Our experts at GI Red will analyse your existing mail creative and templates, and advise how you can adapt them to drive return on investment (ROI) through more effective targeting and use of the channel.
To arrange a diagnostic contact Paul Sumner on the details below.
Get in touch to arrange a diagnostic
www.gi-red.com marketing@gi-red.com Paul Sumner on 0116 232 1711
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ENGAGE 25
Seminar Dates Download the 2016 Consumer Email Tracker Report How do consumers manage their busy inboxes? What do they think about the marketing they receive? Is email in good health? Download the definitive guide to the inbox for marketers from the DMA. Learn how consumers use their inboxes in 2016 with the annual guide, the Consumer Email Tracker. You’ll find answers to the following and more, including: • New information on 'ghost' accounts - active but unused consumer accounts
Sign up to one of our highly successful seminars.
HOW to find, win and
keep customers
SEMINAR Friday 17th February WeWork, Moorgate
• A special look at unsubscribes • I n-depth focus on the behaviours of younger consumers, including 'Millennials' • An update on how consumers view brand messages reaching their inboxes • What motivates consumers to share their email address
www. dma.org.uk/research/ consumer-email-tracker-2016
Thursday 23rd February GI Solutions, Leicester
CAMPAIGN, the intelligent customer marketing tool from GI Insight Thursday 30th March GI Solutions, Leicester
Watch our new explainer video at www.gi-insight.com/ campaign
Seminar registration Go to gi-solutionsgroup.com/ seminars or use the QR code below. Download a free code reader app at www.beetag.com
CAMPAIGN empowers you to tap into real-time data to trigger automated, personalised and relevant programmatic communication, across any online or offline channel – enhancing customer experience – and increasing revenue and sales.
To further experience the power of CAMPAIGN, visit www.gi-insight.com/campaign to watch our new explainer video. www.gi-insight.com
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Come and see the Leaders in Programmatic Communication at the Retail Business Technology Expo 2017 8-9 May 2017 | Olympia Grand, London
Europe’s BIGGEST, BEST and FASTEST GROWING annual event for retail and hospitality
SEE THE FUTURE OF RETAILING out how to boost sales, reduce costs, improve margins and enhance customer engagement.
RBTE IS YOUR EVENT! FREE conference programme featuring leading international retailers | Dedicated Payments Theatre Innovation Trail & Awards | Over 350 exhibitors Extensive Networking ALL UNDER ONE ROOF AND FREE TO ATTEND
“I was amazed to see the extent of the suppliers at RBTE and the offerings they have. It’s fantastic, actually.” Steve Johnson, Head of Central Operations, Carpetright
“RBTE as one of the biggest of its kind in Europe, offers a great opportunity to catch up on all the innovation that is constantly happening in the retail business. Great event.” Oliver Rist, Development Manager, Coop Estonia
8-9 May 2017 Olympia Grand, London
CO-LOCATED WITH
www.rbtexpo.com | +44 (0) 208 874 2728