Retailers and product brands now have a better way to measure digital advertising's impact on retail sales, due to a partnership announced by OwnerIQ, the digital marketing solution for retailers and product brands, and a point-of-sale analytics solutions provider, Retail Solutions Inc. (RSi). OwnerIQ is enhancing the optimisation and attribution reporting features of its digital advertising portfolio by integrating retail store-level intelligence and sales data provided by Retail Solutions Inc.
Through this partnership, it is now possible for product brands and retailers to not only target digital advertising at OwnerIQ's 200+ million in-market shoppers, but also measure the impact of that advertising's impact on in-store retail sales, as well as optimise their campaigns based on individual store location sales performance.
"Leveraging on our existing product suite, OwnerIQ can now offer product brands, retailers and shopper marketers a complete digital solution that finally closes the ROI loop," said OwnerIQ CEO Jay Habegger. "This partnership is important for our current and future partners, into the efficacy of enabling them with the ability to create demand store by store, and providing CPG brands with actionable intelligence that ultimately increases sales."
OwnerIQ will integrate Retail Solutions Inc.'s daily sales and inventory data from more than 150,000 store locations globally, with their portfolio of digital advertising solutions for retailers and product brands. By combining store-level UPC sales data with the largest set of 1st party retail shopper data, product brands and retailers can maximize the impact of their new product launches, promotions, and seasonal offers in their retail channels. Brands can also run different programs and creative executions in targeted zip codes in order to determine which stores respond best to which deals.
"Marketers are now able to build their businesses digitally based on local market, real-time sales opportunities by store," said Retail Solutions Inc. General Manager of Digital Services Michael Quinn. "By leveraging daily POS data by store, CPGs can better understand campaign effectiveness, consumer behavior and store response – what's selling, where and why. New product introductions and promotions no longer need to wait for national advertising campaigns to kick in before product can be moved.