Equation #5: Customer next best action
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My final blog on maths and magic in retail covers retention and when to contact a customer who hasn’t purchased for a period of time.
News & Events Commerce sense
Equation #4 Marketing: How much to spend on a keyword
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Most retailers are spending between 10-30 per cent of their paid search budget on keywords that have never generated a sale. Often retailers simply look at their blended overall Google performance and accept (either implicitly or explicitly) that the efficient spend can subsidise the inefficient spend.
Europe is a gold mine for brands and retailers if they get their data right
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This week saw David Cameron make a landmark speech on Britain’s future in Europe with some important points on trade and needless EU bureaucracy.
Equation#3:Merchandising – lower price or more traffic?
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In physical retail products either sell or don’t sell. For those that don’t sell, the action is blunt – reduce their price. Whether buyer or merchandiser, the ownership of the performance is clear.
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