Measuring store-level drivers of footfall and sales, just got faster!
Brightblue are excited to announce that our updated store-level market mix modelling measurement software is now faster and provides more detailed results. Brightblue’s R&D team have made significant improvements to data capture process and a new modelling approach allowing for a more efficient approach for retailers to measure drivers of individual store footfall and sales.
Historically, retailers using marketing analytics have focused on aggregated national level measurement. Our new modelling capability will make an individual store-level approach scalable to all clients, providing retailers with the capacity for a more detailed analysis. It will allow retailers to calculate:
- How do store characteristics impact store revenue? (e.g. how much extra value does a store refit drive?)
- What is the impact of opening a new store close to an existing store?
- How does the ROI change when marketing for bigger or smaller stores?
- What is the marketing ROI by store or geographical region?
This additional store-level modelling can provide central teams with the accountability of what is driving individual store sales. For marketing teams, we can optimise future media activity by taking in to account the variation in media performance across region and store characteristics maximising marketing ROI.
This addition will be available as a bespoke analysis or it will be available as part of our monthly modelling software that provides a regular insight into drivers of KPIs and can be viewed within a tailored dashboard solution.
Brightblue Consulting are a London based consultancy which help businesses drive incremental profit from their data. We provide predictive analytics that enable clients to make informed decisions based on data and industry knowledge. Through Market Mix Modelling, a strand of Econometrics, Brightblue has a proven track record showing a 30% improvement in marketing Return on Investment for clients’ spend. If you are interested to find out more please contact us through email by clicking here and one of our consultants will get back to you shortly.