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Author Archives: APT

Driving Value Across Channels Through Digital Measurement

October 19th, 2017 | Posted by APT in Analytics - (Comments Off on Driving Value Across Channels Through Digital Measurement)

84% of US retailers indicate that they have or plan to increase investments in online channels, according to a new report from APT, with research and analysis from The Economist Intelligence Unit. Findings also show that a majority of respondents aim to drive business across channels through online promotions of in-store sales, and vice versa.

Meanwhile, by 2025, traditional financial institutions (FIs) could see profits decline 20-60% if they fail to evolve digitally. And more generally, internet ad spending is forecasted to be the biggest ad medium in the US in 2017 – even topping television – with an expected investment of $69 billion.

It is likely not news to most organizations that digital channels are becoming increasingly critical, and that investments in this area are growing as well. Across industries, companies from retailers to banks and more are already aware that they need to grow their digital offerings to keep up with consumer demand. Their response is frequently to funnel more resources into mobile apps and online platforms; for example, 75% of APT report respondents say they have increased their investments in online channels.

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E-Commerce Players Up the Ante for Grocery and Convenience Stores

October 16th, 2017 | Posted by APT in Retail - (Comments Off on E-Commerce Players Up the Ante for Grocery and Convenience Stores)

56% of US retailers say they face significant competition from e-commerce players, according to a new report from APT, with research and analysis from The Economist Intelligence Unit (EIU). Respondents say quality, pricing, product selection, and delivery speed pose the greatest competitive risk from online-only retailers.

In particular, 31% of US survey respondents cite delivery speed as the most threatening attribute of e-commerce retail. For example, today, delivery services have become table stakes for many brick-and-mortar grocers—even big box retailer Costco is offering grocery delivery, working through Instacart and offering a same-day delivery option for orders with fresh foods. Traditional grocers now face competition on price from discount and online grocers, and are also taking a hit on convenience, with the rise of online grocery ordering and delivery services.

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Telling the Full Story: Understanding the True Impact of Speaker Programs

October 6th, 2017 | Posted by APT in Life Sciences and Healthcare - (Comments Off on Telling the Full Story: Understanding the True Impact of Speaker Programs)

Speaker programs are a staple of the life sciences industry; yet, for many companies, these programs do not break even. Further, the combination of the Sunshine Act and increased media attention has led to heightened scrutiny of these investments. Aside from the external pressure, commercial leads are also experiencing internal pressure to optimize speaker programs, given the high cost of events such as lunch and learns and key opinion leader (KOL) speaking forums.

Given the millions of dollars many life sciences companies allocate to these events annually, it is critical for marketing teams to understand which of these programs actually change prescribing behavior, to truly justify the investment. However, analyzing the effect of speaker programs and understanding how to improve them is complicated.

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Scoring on Satisfaction: Driving Value with Traveler Satisfaction Scores

October 6th, 2017 | Posted by APT in Hospitality & Travel - (Comments Off on Scoring on Satisfaction: Driving Value with Traveler Satisfaction Scores)

You have probably seen “Like” buttons on Facebook—but until now, it is unlikely you have come across them in your hotel. Yet, Marriott’s hotel laboratory in Charlotte, where it tests out new concepts, has created just that: “Beta Buttons” designed to track guest satisfaction with new features in real-time. The buttons are placed near all new features being tested out at the hotel, and if a guest likes a certain concept, she simply touches the button and her “Like” is recorded.

This living “Like” button is just one example that demonstrates how satisfying the customer is paramount in the hospitality and travel industries. However, while this may be a key consideration for many hotels and airlines, how can organizations ensure that higher satisfaction scores truly translate into an increase in profits and growth?

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Report: Winning Strategies for Brick-and-Mortar Retailers to Fight Back

October 2nd, 2017 | Posted by APT in Retail - (Comments Off on Report: Winning Strategies for Brick-and-Mortar Retailers to Fight Back)

Brick-and-mortar retail is far from dead. Undoubtedly, traditional retailers are facing hurdles—a major one being the growing competition from e-commerce disruptors. This industry shift is leading brick-and-mortar retailers to innovate and adapt their strategies to maintain market share. The question is, how exactly are they modifying their approaches? And which changes have proven to be most effective?

In a new report incorporating research and analysis from The Economist Intelligence Unit (EIU), those questions—and many more—are answered. Based on findings from a global survey of 256 retail executives conducted by The EIU, the report reveals which online-only players they see as their biggest threat, and why; the most common strategies retailers are leveraging in their fight against online competition; and how successful they have been in changing their approaches.

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Reinvigorating Retail: Capitalizing on Online and Off-Price Concepts

September 18th, 2017 | Posted by APT in Retail - (Comments Off on Reinvigorating Retail: Capitalizing on Online and Off-Price Concepts)

Could online and off-price concepts be the key to capturing market share in the retail industry? It is no secret that the industry is facing headwinds, primarily driven by shifting consumer preferences. However, many online-only retailers and off-price retail concepts have found unique success in the challenging retail environment. Yet, much like traditional retailers, these organizations must continue to introduce innovative strategies to keep pace. One example of such innovation is Gilt’s recent website relaunch, in which the online designer merchandise retailer placed more emphasis on personalization than its traditional flash sales, while also introducing a mix of full-price and discounted goods.

As traditional brick-and-mortar retailers search for new ideas to get ahead of the competition, they may not make full-fledged pivots to online-only or off-price strategies, such as developing an entirely new off-price brand. However, as they explore similar concepts—such as off-price sections in-store, online flash sales, or enhanced omnichannel offerings—there are important considerations they should keep in mind as they emulate elements of these concepts to refresh and refine their own strategies.

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Your Customers Do Not Stick to One Channel, and Neither Should Your Analytics

September 18th, 2017 | Posted by APT in Financial Services - (Comments Off on Your Customers Do Not Stick to One Channel, and Neither Should Your Analytics)

By 2025, traditional financial institutions (FIs) could see profits decline 20-60% if they fail to evolve digitally. This is not news to banks; most are already aware that they need to grow their digital offerings to keep up with consumer demand, and many are responding by investing more resources in mobile apps and online platforms.

The driving force behind this digital evolution is growing customer acquisition and engagement across channels, and as banks shift the way they interact with customers, they need to change the way they assess their marketing initiatives. Many FIs are stuck measuring their digital campaigns within the same channel they execute them, relying on click-through rates and conversions to evaluate program success. This approach is helpful when making tactical changes to execution, such as ad placement and content, but is problematic when organizations rely on it to answer broader strategic questions that inform budget allocation.

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Optimizing CPG Advertising Spend in the Age of Digital Media

September 11th, 2017 | Posted by APT in Manufacturing - (Comments Off on Optimizing CPG Advertising Spend in the Age of Digital Media)

Over $14 billion. That’s the total measured-media spend for the categories of Food, Beverages and Candy and Personal Care in the US in 2016. Highlighting the large investments CPGs are making in advertising, these were two of the largest measured-media spending categories. Research also shows that internet ad spending is forecasted to be the biggest ad medium in the US in 2017 – even topping television – with an expected investment of $69 billion.

As digital advertising becomes increasingly prevalent and CPG advertising budgets continue to grow, organizations must carefully re-allocate media spend across digital channels as well as mass media platforms, such as radio and print ad campaigns. In order to make informed investments in this area, CPGs first need to understand the true value of digital campaigns for their business. From there, they can develop a better understanding of where to focus their marketing spend, and strategically distribute budget across programs for maximum impact.

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Learnings From Across Industries: Insurers Tackle New Technologies and Tech Startups

September 11th, 2017 | Posted by APT in Insurance - (Comments Off on Learnings From Across Industries: Insurers Tackle New Technologies and Tech Startups)

With more than 80% of insurers planning to invest in new technology this year, the trend of InsurTech—the application of technology to traditional insurance practices—is sweeping the industry. This trend is evident not only as incumbent insurance players adopt cutting-edge technologies, but also in the rise of insurance tech startups, which are creating a new kind of competition for traditional insurers.

Insurers are not the first to face industry disruption, especially in the form of pressure to adopt new technology or respond to the competitive threat of tech-focused newcomers. Similar changes have emerged in other sectors, from hospitality and banking to retail and telecommunications.

As insurers contemplate how to refine key business programs in the face of such industry disruption, they can apply best practices from their peers across industries. Leading companies in many sectors have turned to business experimentation to innovate strategically in response to new technology and emerging competitors, and insurers can emulate this approach to optimize their responses to the changing industry landscape.

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Convenience Stores Expand Their Offerings: Maximizing the Value of New Programs

September 1st, 2017 | Posted by APT in Retail - (Comments Off on Convenience Stores Expand Their Offerings: Maximizing the Value of New Programs)

Convenience stores are racing to establish themselves as more than just a pit stop for fuel and snacks. Previously, we addressed how some convenience store chains are adding features such as seating areas, Wi-Fi and drive-thru windows, and investing in services like USPS goposts to drive traffic.

Now, as highlighted in a recent Wall Street Journal article, convenience retailers continue to grow their offerings and services through money-transfer options. BP gas stations in Australia partnered with Western Union to enable customers to send money overseas, with gas station attendants facilitating the transaction. This collaboration allows customers to set up a transaction using their mobile app, but pay in cash at the gas station. It is also helping Western Union compete with FinTech startups that already provide consumers with international money transfers from home computers or mobile devices.

But what are the benefits for BP? The chain is not alone in capitalizing on the concept of in-store cash transfers; 7-Eleven offers MoneyGram kiosks at select locations, and other convenience retailers may implement similar services. The obvious advantage of any new offering is that it will drive customers to the store, leading to additional purchases. However, there is a question of how to maximize this positive impact. Given the potential complexity of rollout and partnership agreements to offer financial services in-store, it is critical that convenience retailers develop a keen understanding of not just a program’s success, but how they can tailor the offering to make it as impactful as possible.

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