10. Measuring Return on Investment
Retail marketing is an art and a science. The scientific part of the equation includes segmenting and analyzing shoppers, defining performance drivers, and composing precise mathematical equations that measure and predict performance. The art comes into play in implementing those strategies so that they deliver the desired results.
Retail campaign optimization requires the careful navigation of a series of dynamic tensions that require careful strategy development. These dynamic tensions are double-edged swords—an overly conservative approach limits the number of shoppers visiting our stores or sections and suboptimizes the value of the traffic we generate; an overly aggressive ...