Iceland Buy MICROVISION to Optimise Their Marketing Communication Strategies
Iceland , the popular high street frozen food retailer
has selected GMAP Consulting's MICROVISION
customer analysis and market visualisation software to
understand the intricacies of their marketplace and refine their
marketing communication strategies.
Iceland will be using MICROVISION to help understand the dynamics of their market by analysing customer basket spend, identifying how far their customers typically travel to their nearest store and highlighting areas where receptiveness to their home delivery service will be highest. Competitor data will also be incorporated to enable Iceland to measure the impact these sites might have on their own customer footfall.
As well as integrating sales and store data into valuable market reports and maps Iceland will also be able to analyse each store on an individual basis using demographic variables, CAMEO geodemographic classifications and retail centre data. In summary Iceland will be using MICROVISION for the following:
- Customer Profiling & Targeting - Key customer groups will be profiled against CAMEO. Iceland will then rank areas according to where their best customers live.
- Marketing Channel Analysis - All above, through the line and below the line marketing activity will be analysed to identify where there is over or under- spend in relation to sales achieved.
- Catchment Definition & Evaluation - Drive time and sales flow analysis will be used to build catchments around circa 650 stores within which highly targeted localised marketing campaigns can be executed.
- Performance Benchmarking - Demand within each store's catchment will be measured and realistic sales targets will be derived. Changes in sales activity will also be monitored and mapped.
- Competitor Analysis - Stores within closeproximityto major competitors will be singled out for additional assistance.
- Sales / Basket Analysis - Theme maps highlighting where sales and average basket value is highest will be created to enable Iceland to analyse performance in each store region.
- Logistics Planning -The optimum number of home delivery vans will be allocated to stores taking catchment overlaps into account.
- Product Ranging -Product profiles will be compared against store catchments to investigate whether there is scope for new products.
Nick Canning, Marketing Director, Iceland comments:
"With all this market intelligence at our fingertips we shall be able to streamline our marketing communication strategies by continually reviewing which marketing channels yield the best results and ensure we provide personalised offers to our customers and prospects. MICROVISION will also enable us to cut down on potential wastage by ensuring we only target areas where we are likely to get a good return on our investment."
Kirk Dobie, Managing Director, GMAP Consulting
" Iceland has previously used MICROVISION within their Network Planning Department to help optimise the distribution of their stores but it's great to see they are now taking advantage of other modules and datasets in the system. This clearly illustrates the potential of MICROVISION to be applied across multiple business units to satisfy a wide range of different propositions."