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Retailers Value Analytics to Improve Profits Across Channels and Devices, Yet Tracking the Right Metrics Remains Elusive

SAN JOSE, Calif. April 23, 2012 Baynote Metrics Therapy– Details, Dashboards and Diligence

Lauren Freedman

Additional findings of the e-tailing group "Metrics Therapy – Details, Dashboards and Diligence," white paper include:

  • It’s about profit, not conversion:
    • While conversion gets the most attention in media, gross profitability was seen as the top metric, especially in low margin categories where profitability percentage points can have a major impact on overall performance
  • Personalization measurement in its infancy:
    • Retailers increasingly value, and are investing in, personalization technologies yet agree there is an industry-wide need for more sophisticated measurement  tactics
  • Mobile and tablets delivered:
    • For mobile and tablets, both traffic and conversion exceeded expectations yet improved optimization across these channels and a better understanding of key metrics will enable retailers to drive growth
    • In general, retailers are following a "same metrics/different device" approach to metrics, which can work in the short-term, but will become problematic for retailers’ long-term strategies
  • Social stuck in measuring "soft ROI," but looks to evolve:
    • In social, retailers’ metrics are still focused on the number of Facebook fans and Twitter followers, (78 percent and 61 percent, respectively) not real ROI; retailers cited measuring interactivity and customer preferences as top goals
  • Multi-channel view on the horizon:
    • The ultimate horizon for retailers is to have a holistic 360-degree view of the customer across all touch-points that takes into account interactions and transactions and provides understanding of the most cost-effective ways to reach customers and drive conversion for life

" Dan Darnell Wednesday, April 25 th

San Jose, Calif. Germany Campbell

Lauren Freedman

SOURCE Baynote

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