That’s according to Analytic Partners, the leader in analytics, which today issued an analysis of the growing retail omnichannel impact of all media.
ROI Genome Marketing Intelligence Report: The New Omnichannel – Clicks, Bricks and Everything in Between, documents the rise of “omnichannel” – the effect of consumers being exposed to marketing in one channel and buying in another. The analysis also measured the drivers of store traffic and drivers of web traffic. The findings emphasize the role that offline advertising is playing in driving online behavior.
“There’s a clear message here for brands – holistic measurement is a must as no channel is a vacuum,” says Nancy Smith, CEO and founder of Analytic Partners. “Online media can drive brick and mortar sales, offline media can boost online sales and Amazon advertising can drive sales beyond that platform.”
For the brands assessed by Analytic Partners in the report, opening a retail store resulted in incremental sales in online channels as well, with a 4% to 8% lift in online sales from a physical store opening. The analysis showed that a brick and mortar presence served in effect as a branding initiative, particularly when supported with PR, marketing and promotions.
“There is a false belief that with the exponential growth of ecommerce, all physical retail is in decline,” says Mike Menkes, SVP Analytic Partners. “The reality is that in the omnichannel world, all marketing is connected and offline and online can support each other. The data from the ROI Genome substantiates the need for holistic media planning, measurement and organizational structures.”
Analytic Partners works with clients around the world to optimize business performance and assess the return on their marketing investment through efforts such as unified measurement, marketing mix modeling and multi-touch attribution. The insights in this report are based on the collected knowledge from these analyses, which form the core of the ROI Genome.