Retail product data at specific store locations has become the key to improve media buying at Goodway Group. The Philadelphia-based agency announced a partnership with Retail Solutions on Thursday that allows it to tap into data from RSi's analytics platform to improve media-buying strategies to drive in-store sales.
The idea is to tie in real-time supply chain signals for the retail products that sit on store shelves into media buying, said Amanda Martin, VP of enterprise partnerships at Goodway Group.
“Retail Solutions knows the number of units the brand has in specific stores,” Martin says. “We may be asked to target seven markets for the client, but we’re not necessarily making media decisions based on what supply is physically available and where spend can be optimized. RSi allows us to know how many units we have to move and what market we should spend the money for media.”
The strategy works when both Retail Solutions and Goodway support the same brand.
The data allows Goodway to know the store’s inventory and how the agency impacts that inventory. The analytics platform separates the measurement from sales naturally sold, as well as the efforts made by Goodway.
In one instance, a large soft drink company wanted to push its new diet product -- measuring success based on units sold at Walmart locations using Ansa to increase feature product sales -- as well as to increase sales of the product by nearly 7% during the campaign.
The results produced more than $1.1 million in incremental sales. The campaign garnered a return on advertising spend (ROAS) of $21, up 233% compared with previous campaign efforts.
Retail Solutions platform Ansa has supported more
than five trillion digital impressions by integrating point-of-sale data for CPGs, supporting sales efforts in the grocery, drug and mass space. The company is unique because it has a relationship
with companies that provide insight into the source of inventory for consumer product goods companies running through the supply chain.
“It lets us know if we’re applying the correct budget in the correct market to move the perfect amount of diet drinks,” Martin says. “It ties right back to the return on ad spend and their sales, rather than us creating a metric that signals sales.”
The two companies began partnering on this project about three months ago.