The Objective
A leading U.S. omni-channel retailer aimed to optimize in-store and e-commerce conversions, drive full-price transactions, and acquire new customers without deep discounting. To understand key success levers and maximize ROI, they partnered with Lifesight to leverage a Unified Marketing Measurement (UMM) framework to optimize omni-channel performance.
The Challenge
- Difficulty increasing both in-store and e-commerce conversions.
- Reliance on discounting strategies to acquire new customers.
- Inefficient budget allocation across various marketing channels.
The Solution
Lifesight deployed a custom Marketing Mix Modeling (MMM), integrating online and offline data from various touch points (e.g., social media, display, in-store promotions).
By assessing the incremental and marginal impact of each marketing channel, tactic and campaign, the retailer adjusted its strategy. Lifesight’s causal based MMM helped double down on campaigns with full-price transactions to drive more incremental revenue. This approach led to a more profitable customer acquisition strategy while improving overall marketing effectiveness.
Conclusion
Lifesight’s UMM helped the retailer optimize in-store and online conversions, allocate budget efficiently, resulting in a 32% increase in incremental revenue and a stronger acquisition strategy.