Adopting a digital approach helps optimize the right content and calls to action on different occasions by allowing you to quickly and easily edit promotions.
Addressable advertising, which allows you to target different campaigns to different audiences watching the same content, provides an opportunity to more closely target media investments to the local markets that have the highest concentration of shoppers you're trying to reach, including the catchment area around retailers.
Due to shifts in behavior, the people who were your highest value consumers may no longer be the target. Whether you close a sale through an e-shop or a brick-and-mortar store, digitization will also allow you to integrate more strategies and improve the right line of communication and optimize prices leading to the desired consumer behavior. Lessons from each campaign can then help you increase what works best so you can continuously win strategic opportunities. You can also monitor the impact of your investments on your brand's health and net social sentiment to ensure that commercial activation strengthens rather than undermines your brand leadership.
Extend the success metric from commercial return on investment to a more complete picture of return on experience (ROX), which shows the effect of investing in experience, including both the customer and employee experiences.
The winning opportunities are to prepare offers based on consumer interests in a way that generates brand leadership and creates a stronger emotional connection. This requires the same focus on brand love and commercial activation, while taking a more holistic view of the brand, product, customer and employee experiences.
Experience data signals (data X) can be a powerful part of your statistics module, especially if they are added to operational and financial data that comes from your technology systems and from third parties (data O).
The ROX metrics system combines X and O data to enable a faster feedback loop and jump from knowledge to action. Data X can include not only consumer data signals (eg social sentiment), but also B2B data signals regarding the quality and ease of execution of the campaign.
ROX provides additional high-value data points from which campaign tactics have led to improved sales, helping you, for example, to optimize budget allocation across your brand's portfolios.
Also consider how relevant your brand may be to new opportunities and trends. An agile approach to addressing these opportunities will put you in a position to reap the benefits in a matter of months, which will boost your return on current spending as you expand your approach across a larger share of your brand portfolio and retail customer base.
In this way, you will support a successful cycle that will allow you to reinvest in the ability to gain opportunities for priority consumer segments, and then further strengthen your ability to reinvest from rapidly growing profit flows.
The starting point is investing in targeted campaigns that allow you to capture a higher proportion of domestic opportunities while earning more money from your brand investment and commercial activation. And that will mean that you will emerge stronger from the COVID-19 crisis than you would otherwise.
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