As a brand, data is incredibly important for strategy development. Brand data allows you to find out about your customers, deliver a great experience, discover new markets, find out about buying habits, and much more. While all this data can be collected through online channels, in-store data can sometimes be less easy to collect.
With eCommerce, such a prevalent part of consumers’ lives, collecting a lot of data is relatively easy. The simple process of a customer filling in an order form will provide you with useful data without much trouble on your end. Data from in-store retail, however, is logistically much more challenging due to the need to send people to physically check stores.
Because of this, many brands tend to lack in-store data on their products and customers. This can be damaging and even negatively impact brand strategy. Without brand data, you won’t be able to get clarity and important insights that can help accelerate your business. Here are the main ways brand data can benefit your business:
1. Get better clarity on pricing and planogram changes
As a brand, it’s difficult to gain control over changes that may happen in-store. Therefore, it’s important to keep an eye on any issues that could affect your margins. Gathering data on how your products are priced in-store is particularly important when it comes to convenience and independent stores. While larger retailers will have likely agreed on pricing with you, your brand will have much less control with smaller independents. Keeping track of how your products are priced in these environments will help you maintain brand consistency.
2. Make sure your promotions are polished
Getting better brand data can help you check that your promotions are running as agreed with retailers. You spend time and money perfecting these to ensure that customers are drawn to your product, but if you’re not aware that promotional materials aren’t even displayed or are badly damaged, you’ll be missing out on sales.
By gathering data on your promotional materials in-store, you’ll be able to identify and address any issues that need to be resolved with retailers and ensure that you’re reaching customers in the way you intended.
3. Improve customer experience
As a brand it’s essential to regularly monitor your customers’ experience – especially when you’re distanced from the retailer and want to understand how your product is being sold. Store staff can make a big impact when it comes to promoting and recommending your product, leading to customers to make on-the-spot purchases.
Getting quantifiable data on how your product is being sold will give you a lot of insight into your customers and how your brand fits with certain retailers. It’s a good idea to check a representative sample of retail locations to find out exactly how often your products are being recommended to customers and why. This way, you can ensure that your products are being sold in the exact way you want them to be.
4. Keep your products in stock
If you’re an FMCG brand, having your products in stock is one of the most important things to check. Getting data on product availability will help you address any problem areas to ensure you get great ROI. For example, if your razors aren’t in stock on a Thursday at 6pm, which is when they’re most likely to be bought, you could be missing out on a high number of sales.
5. Execute smooth product launches and campaigns
A lot of work goes into perfect product launches and campaigns, but it’s important to get comprehensive data on the execution of them in-store. Getting data on the first day of launch and during will help you make sure your products look their absolute best.
Easily gather brand data on thousands of stores across the country with Shepper
Shepper enables you to gather all the data listed above from locations all across the country. Our network of local people, our Shepherds, are your flexible workforce who collect data quickly and efficiently for your brand. We feed the data into comprehensive and user-friendly dashboards so you can see exactly how your products appear in store.
Try Shepper for free by clicking below.