A lot of businesses are trying to increase efficiency by automating their marketing operations. The underlying issue is always siloed data. For example, inventory data doesn’t communicate with loyalty data, or there’s no attribution between marketing spend and purchasing data. The luxury of having a full-time data analysis on hand isn’t feasible for a large portion of companies; therefore, automation falls by the wayside.
People are becoming increasingly aware that utilizing data is fundamental for business growth today. Loop Insights offers accessible and innovative tools that let brick and mortar businesses compete against online giants, such as Google and Amazon.
JAK’s Beer Wine Spirits is a liquor retailer with multiple locations in British Columbia, Canada. Installing Loop’s Fobi device has allowed them to deliver physical promotions to customers based on predetermined demographics.
Step 1: Determine Your Target Audience
Like Google Ads, Loop allows you to select keywords that trigger your promotion when customers make a purchase. We work with you to create a keyword list that suits your promotion, such as a targeted demographic or increasing sales for a particular product.
JAK’s created a promotion, in collaboration with Steamworks Brewing, to promote $2 off the new 8-pack size of their Flagship IPA. Keywords were selected to target craft beer drinkers We used demographics, transaction data, and basket data to drive this promotion to those who would actually be interested.
Step 2: Design Your Promotion
Simply create and customize your own promotion. Determine how long the promotion will be offered, and if there are certain times of day you want it to be triggered. Or work with us to tailor something specific to your marketing needs.
To align with JAK’s marketing goals, Loop added a QR code that offered a digital copy of this promotion, and showed customers their monthly specials. By integrating JAK’s physical and digital platforms, customers can be engaged even after they walk off the property.
Step 3: Track and Action Your Insights
With Loop’s customizable data portal, aggregate all your company data in one location and gain greater visibility on customers’ shopping behaviors, such as basket pairings. This access to real-time insights allows for proactive business decisions that benefit operations, merchandizing and marketing.
Loop worked with JAK’s to provide a data report reflecting insights on customers’ interaction with the promotion (who, what, when, where, and how) across their 3 participating locations. For the duration of the promotion, JAK’s was able to see real-time updates.
Step 4: Attribute Marketing Spend to Sales
What is attribution? It’s the ability to link an effect (or sale) to a cause (or marketing tactic). An especially important insight for marketing is who redeemed the promotion, which determines the redemption rate. Loop provides the analytics to show true attribution on marketing investment.
With one full view of all three locations, JAK’s can compare customer redemptions: Timberline and New West printed the most promotions, but Discovery had the highest redemption rate. By uncovering attribution, JAK’s can identify which aspects of their promotion gave them the greatest return on their marketing investment – and can design future campaigns accordingly.
Looking Deeper Into the JAK’s Promotion:
- We can see that printed promotions were a clear winner over digital promotions at all three locations. With this knowledge, JAK’s may decide to focus future marketing materials using print media.
Let’s imagine one location DID see more digital redemptions – they could direct marketing funds towards building location-based, online ads, or driving promotions through email and SMS to the customers of this location.
- The QR code’s linkage to JAK’s monthly promotions provides an excellent opportunity to understand microtrends to a greater extent. Using click data, they could now see what other brands caught their customers’ eyes, which not only informs future inventory and merchandizing decisions, but also marketing strategies.
- The time of redemption, who redeemed the promotion, what type of device was used – these are all important insights to develop detailed profiles of JAK’s customers. It is the starting point to truly knowing their local consumer base, and finding ways to build relationships with each of them.
The Benefit of Community:
Through cross-promotion advertising, Loop facilitates a great new way to increase revenue. With neighboring businesses, you work together to keep foot traffic within your neighborhood, enforcing a sense of community while increasing sales. You can also unlock another revenue stream by providing brands access to promote to your customers directly – as JAK’s did with Steamworks Brewing.
If you’re a business owner, we encourage you to explore how automation can improve your marketing. Interested in Loop’s Fobi device? Reach out and we can help determine its role in your business goals! Book a demo today.