Traditional sales analysis tools rely on starting with predefined selection criteria. For example, demographic segmentation (gender, age) geographic segmentation (country, state, postcode), behavioural segmentation (product type, colour preference, time of day purchasing). When using DetectR for market segmentation, the experience is very different. By simultaneously analysing millions of points of POS data, DetectR can identify groups of customers by criteria you may never have considered. DetectR answers the marketing questions you did not know to ask.
To be able to understand how customers are interacting with a product, DetectR analyses all stores cash register or transaction data. This data contains quantities, location, price, COGS, discount, sizes, colours, voucher and store card information, returns and reason codes etc.
This large-scale and ‘ugly’ data can be a goldmine of information for the marketing team. The problem is that marketers are not data scientists, and IT does not always have the resources to help quickly. Sales Analysis Mode acts as the data cruncher to deliver insights to the creatively minded team. Sales Analysis Mode can be used independently or as an additional component of DetectR retail fraud prevention solution.
The Sales Analysis Mode utilises DetectR‘s brainpower in a way that is customised for Sales and Marketing teams. It graphs the transaction data in an incredibly user-friendly interface for those teams focused on the customer experience. The NetMap Analytics team will work with sales and marketing end users to customise the dashboard and interface. The user pursues their intuition and knowledge of the business delving into to the level of detail that makes sense their department.
By providing the marketing professional with an interactive dashboard filled with visualisations of the sales data, new segment opportunities can be explored. This knowledge can then be tapped to create targeted marketing campaigns. For example, loyalty campaigns for newly identified brand advocates. The DetectR outputs can be used to further understand buying behaviour and provide the marketing department with personalisation opportunities and ways to improve the customer experience.
Just as easily identifiable are the risks and potential scenarios resulting in loss or shrinkage. For example, highlighting ‘problem products’ that experience a consistently high occurrence of returns or are regularly marked down. Another example is being able to identify products from a particular supplier as being returned at a higher frequency. DetectR helps marketers to remove the assumptions when doing a customer deep dive or trend analysis and enables marketing plans to be built from actual POS or cash register data.
Every marketer knows the frustration of turning data into usable knowledge. Actionable insights based on data can make or break a marketing plan. More than this, having base data provides the benchmark for ROI analysis and justification of marketing campaign spend.
Utilising this solution, a leading Australian retailer discovered three very specific, previously unconsidered groups of high-value customers, each sharing their own distinctive characteristics. Also uncovered was a line of bedding products that were not selling due to the colour, and as a result, larger than normal discounts were applied to assist selling out the stock. With Sales Analysis Mode powered by DetectR Sales and Marketing, teams can pinpoint target segments with a degree of accuracy never before possible and reveal hidden opportunities.
The NetMap Analytics team will customise the marketing dashboard to suit your business. This is one example:
Sales Analysis Mode powered by DetectR is a secure cloud base SAAS (software as a service) product, where the user can log in from anywhere there is an Internet connection.
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