How agencies turn brand data into actionable insight
3 August 2020
Author: Mark Fraser
The world is awash with data. In every sector, in every category, in every industry, data is shaping the future of how businesses operate. Those that are making waves, disrupting trends and achieving true success are the ones who are finding clever ways to use that data to their advantage.
With so much more information on consumer habits available than ever before, relying on analytics and data and taking the guesswork out of how to plan in store activity enables brands to produce higher profits, greater customer satisfaction and ultimately delivers more value. Agencies play a critical role in ensuring turning a brand’s data into insight that can be deployed in a practical way that delivers sales in store.
The importance of data is well known… but poorly understood
A recent survey of 350 retailers and brand manufactures showed that 81% of respondents gathered shopper insights, whilst 73% said that data was very important or essential to their departments’ performance.
Yet the same survey shows that many of these retailers and brands don’t know how to harness the data they are collecting, with only 16% of respondents saying that they consider themselves experts. The truth of the matter is that many brands face challenges in wrangling that data into actionable insight. Whether that’s because they don’t have the time or the specialism to do so, all recognise the importance but struggle to make use of it.
It doesn’t have to be this way.
Agencies can turn your data into powerful insight
In the past we’ve discussed how outsourced field teams is a great way for brands to improve ROI by using expert people and agile resource models. But what if we told you that you can do the same with data? And you can even combine the two.
With their flexible methods of working, expertise in identifying trends, commitment to innovation and sheer desire to win, outsourcing your data analytics to a field marketing agency is a sure-fire way to turn raw information into powerful tools that can unlock efficiencies. Using data is an excellent way that agencies can leverage their expertise to the meet the consumer at the point of purchase, helping brands to make the most of their execution to uplift sales. It can also drive value and give you a birdseye view of past, present, and future trends so that you can ensure that every single time a brand representative steps into a store, they’re there to increase sales and enhance customer relationships.
Throughout the course of this week we will show you how data can be used to unlock sales and efficiencies by:
- Harnessing EPOS data across channels and sectors on behalf of brands to maximise efficiency at head office level and in the field
- Collecting qualitative data to drive value and enhance the shopping experience, be it through evaluating consumer sentiment, shopping trends, or the hours of the day shoppers like to shop
- Analysing the data brands are capturing on consumer behaviour in order to equip their field teams with toolkits and skills that deliver the best bang for buck
- Showing you the tools that we have available in our data and analytics brand, Thumbprint. This includes products like DART that practically apply data in order to increase value in every situation, enabling any brand that uses our products to sell more. Our tools are not only effective, but they are built by people who have worked in the field, who know what data is the most useful, and know how they can use it make informed decisions to influence customers right where it matters.