case study / Consumer Packaged Goods
Sales Velocity Grew By 253%
A large consumer electronics company had a limited inventory of a special-edition product from an iconic film franchise that needed to be moved in a short period of time once the initial surge of sales had slowed.
Objective
The film franchise has found fans across the world, but this leading consumer electronics company was struggling with its marketing efforts associated with this limited edition product as sales decreased following the initial launch. Looking for a quick and cost-effective approach to move the remaining inventory, they reached out to Stirista for help.
Stirista reviewed the product offering and then deployed a unique approach to create an enriched Custom Audience that was used as the core of an email effort promoting this special-edition unit.
Solutions
This industry leader turned to Stirista to help identify a consumer audience that would have a high level of interest in the product so they could move the remainder of their special-edition inventory. Stirista utilized a multidimensional data strategy, with personalized data segments, to develop a Custom Audience that had the interest in, and the means to purchase, this higher-than-normal priced product. This began with the review of specific social indicators and then defining data points of value from those social insights.
The social attributes were then tied to records within Stirista’s Consumer Database to create a custom, non-traditional, target audience via the Stirista APT platform. This allowed for reach
across multiple verticals, including Business Decision Makers in the IT space, Film, and Entertainment industries.
The Custom Audience curated by Stirista was significantly different from that of the original target market that was used for the initial marketing efforts. With this new audience segment resolved to full identities and households, an acquisition strategy was executed via Stirista’s Email Service platforms.
Results
The Custom Audience that Stirista developed for the effort was able to deliver high campaign engagement, which helped contribute to the significant increase in sales velocity. The effort realized a click-to-open rate that was twice the industry norm and 80% greater than that achieved in the previous email marketing effort at 6.5%. In addition, the sell-through rate during the limited edition campaign saw an increase in sales velocity by 253% across each of the identified financial segments.
Following the significant cost of the initial marketing efforts associated with this limited product, the marketing spend of the Stirista campaign represented less than 8.8% of the total cost of revenue generated from sales.
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