John Lewis ups its data analytics capability
Neustar is working with John Lewis to help the retailer better understand what drives marketing-led sales and inform its award-winning campaigns.
The partnership saw John Lewis seek a long-term relationship so that its extensive range of data assets could be brought together within a solution that could offer insight into how its campaigns are impacting sales as well as the impact non-media drivers (e.g. weather patterns, economic indicators, etc.) have on returns. John Lewis selected Neustar MarketShare for its holistic solution that could provide insight into how various marketing activities interact to help it adjust and optimise its marketing spend accordingly, particularly its marquee campaigns around holiday periods.
Emma Nicholson, senior insight manager at John Lewis, said: “As a leader in retail, we weren’t simply looking for a service that could generate statistics. From the beginning, Neustar MarketShare has invested in John Lewis to not only help us optimise our marketing spend, but also to enhance data driven decision making within the company. Thanks to this partnership, we are generating a wide range of insights including the impact omni-channel campaigns have on sales from our different categories and customer segments, and these analytics are supporting the development of our business plans.”
The partnership has enabled John Lewis’ marketing teams to test campaign scenarios, and to choose the options that are likely to deliver the most sales revenues and overcome tactical challenges by monitoring and allocating investments to optimise investment opportunities as budgets change over the year. John Lewis is now able to underscore its campaigns with deep analytics, which have revealed revenue of up to £8 for every marketing pound spent. The partnership has also enabled John Lewis to understand the level to which marketing is a key driver for revenue, and how it has contributed to sales. Through these advanced marketing insights, John Lewis can precisely pinpoint where to invest its marketing budgets and be more focused on driving marketing-led sales.
Commenting on the partnership, Luis Chaves, managing director, Neustar MarketShare UK, said: “The retail industry is incredibly competitive, particularly during major holiday periods. Therefore, brands and their marketing teams need to find solutions that will enable them to get the best returns for their investments. By incorporating planning methods to see and prove the sales value that marketing activities provide, John Lewis can not only create award-winning campaigns, but also deliver effective investment returns back into the business.”