Analyse discount effectiveness through sales data and customer feedback
Want to know if your discounts are really working? Track sales data and gather customer feedback. It’s data-driven and gives a clear picture of effectiveness, but be prepared to dive deep into analytics.
Tools
| Name | Description | Pricing | Ease of Use |
|---|---|---|---|
| Adobe Analytics | Adobe Analytics is a robust digital analytics platform that empowers … |
Paid Only
|
Moderate
|
| Google Analytics | Google Analytics is a web analytics platform that tracks and reports … |
Paid Only
|
Moderate
|
| Hotjar | Hotjar is an insightful analytics and feedback tool designed to enhan… |
Paid Only
|
Moderate
|
| HubSpot CRM | HubSpot CRM is an integrated customer relationship management platfor… |
Paid Only
from $20.00/mo
|
Moderate
|
| Microsoft Power BI | Microsoft Power BI is a powerful business analytics tool that enables… |
Paid Only
from $9.00/mo
|
Moderate
|
Objectives
| Name | Description |
|---|---|
| Customer Satisfaction | Customer Satisfaction as a marketing objective focuses on understandi… |
| Retention | Retention in marketing focuses on keeping existing customers engaged … |
| Sales | The marketing objective 'Sales' focuses on increasing revenue through… |
| Trust and Loyalty | Trust and loyalty are crucial marketing objectives that underpin long… |
Demographics
| Name | Description |
|---|---|
| Entrepreneurs | Entrepreneurs are typically characterized by their innovation, risk-t… |
| Gen X | |
| Gen Z | Generation Z, born between 1997 and 2012, is a cohort characterized b… |
| High-Income Earners | High-Income Earners are characterized by their significant financial … |
| Low-Income Earners | **Professional Description for 'Low-Income Earners'** Low-income ear… |
Promotes
| Name | Description |
|---|---|
| Brand | Brand represents the unique identity of a business, encompassing its … |
| Physical Product | The Physical Product represents a tangible good that marketers have t… |
| Service | The 'Service' is an innovative solution tailored to address current c… |
Sectors
| Name | Description |
|---|---|
| Arts and Entertainment | The Arts and Entertainment sector is a dynamic industry encompassing … |
| Food and Beverage | The Food and Beverage sector is a vital part of the global economy, e… |
| Healthcare | The Healthcare sector is a critical pillar of the global economy, enc… |
| Hospitality and Leisure | The Hospitality and Leisure sector encompasses hotels, restaurants, t… |
| Retail | The Retail sector is a dynamic industry focused on the sale of goods … |
Strategy
| Name | Description |
|---|---|
| Customer Retention Strategies | Keeping customers loyal involves personalized communication, rewards,… |
| Data-Driven Marketing Strategies | Using data to guide marketing decisions helps target the right audien… |
| Pricing Strategies | Setting the right price involves balancing profitability and customer… |
| Sales Strategies | Boosting sales involves understanding customer needs, effective commu… |
Sub-strategy
| Name | Description |
|---|---|
| Discount and Promotional Pricing Strategy | Offering temporary price reductions to boost sales and attract custom… |
| Sales Funnel Optimization Strategy | Improving each stage of your sales funnel to boost conversion rates a… |
Technologies
| Name | Description |
|---|---|
| Analytics & Data Tracking |
Channel
| Name | Description |
|---|---|
| Email marketing is a versatile tool for reaching both businesses and … |
Sub-channel
| Name | Description |
|---|---|
| In-Store Promotions | In-store promotions are a traditional way to boost sales and brand aw… |
| Point-of-Sale (POS) Displays | Point-of-Sale (POS) Displays catch customers' attention right at the … |
| Sampling Events | Sampling events are all about giving people a chance to try your prod… |
Quick Facts
Channel
Advertising Type
Difficulty Level
Intermediate
Estimated Cost
Medium
Time to Impact
Short (Weeks)
Tags
B2C
Pros
- Data-Driven Insight: Provides a clear understanding of how effective the discounts are in driving sales.
- Customer Feedback: Allows for direct input from customers, giving a well-rounded view.
- Flexible Implementation: Can be applied to various industries and business types.
- Improves Strategy: Helps in adjusting future discount strategies based on solid data.
- Customer Engagement: Engages customers by making them part of the feedback loop.
- Enhances Reputation: Shows that the brand cares about customer input and continuous improvement.
- Cost-Effective: Utilizing existing sales data and feedback mechanisms minimizes additional spending.
Cons
- Time-Consuming: Requires significant time to gather and analyze data.
- Analytical Skills Needed: May need expertise in data analytics to interpret results effectively.
- Potential Bias: Customer feedback might be biased or not fully representative.
- Integration Complexity: Combining sales data and feedback from multiple sources can be complex.
- Delayed Results: Gathering sufficient feedback and sales data takes time, causing a delay in actionable insights.
- Customer Reluctance: Some customers may not be willing to provide feedback.
- Resource Intensive: Can be resource-intensive in terms of both manpower and technology.