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Pioneering move gives retailer a new source of insight to drive TV advertising reach and effectiveness
15th April 2014, London – Leading home enhancement retailer Homebase has today announced an innovative three year partnership with customer intelligence specialist Sky IQ, to help the retailer improve its TV advertising and drive sales by gaining a better understanding of the purchasing and TV viewing behaviours of its customers.
The deal is part of a wider strategic effort by the retailer to optimise its TV advertising campaigns with a view to more accurately targeting its customers on TV for the first time and accelerate its understanding of the customer path to purchase; from TV to in store.
In an initial pilot prior to the contract being signed, Sky IQ discovered that 39% of Homebase customers are also Sky subscribers, and of the 500,000 subscribers on Sky IQ’s viewing panel, 189,556 were mutual Homebase customers. Key findings from the pilot found that people are more likely to shop with Homebase if they have seen a Homebase advert. This was significant in three key customer groups, who were 26% more likely to shop with Homebase than other target segments if they had seen the advertising.
A merged panel of Homebase data, including purchase information via the Nectar programme, and Sky IQ anonymised viewing insight will be the basis for analysing campaign performance. Not only will this reveal information about the reach of its TV campaigns, but also which customers purchased after seeing an advert, the top performing programmes for the retailer’s target audience segments, and how many times an audience views an advert before responding.
Going forward the analysis will also improve Homebase’s overall direct marketing performance by better integrating it with TV advertising campaigns. This includes understanding which audiences are most responsive to TV and ensuring those that are less receptive are better communicated with through other channels.
Sky IQ will work with MindShare, Homebase’s media agency who will use this insight to optimise their media plan. MindShare and Homebase are already implementing changes in their advertising strategy following the successful pilot last year with Sky IQ.
Jo Kenrick, Marketing Director, Homebase said: “Our new advertising campaign has been well received by customers, but it is vital to ensure the media budget behind it is effectively deployed. We want to reach those customers who are most responsive and likely to shop. Sky IQ enables us to do just that and we are very excited to combine what we know from Nectar data with new information that will help us be more relevant to home enhancers.”
Stuart Johnston, Deputy Managing Director, Sky IQ, added: “This is a significant step forward not only for us, but for the industry as a whole. Homebase and MindShare will be leading the field in using our viewing panel and insight at such a large scale giving them unprecedented insight into the purchase behaviours of customers. Closing the loop between marketing and advertising spends and sales performance is the Holy Grail for retailers. This partnership will allow Homebase and MindShare to do this and more. Together we will be able to prove the value of TV advertising and increase its impact on the consumer.”
Jim Vander Meersch, Client Director, Mindshare commented: “The insight being provided by Sky IQ is a really exciting prospect for our work with Homebase. The ability to identify the demographics and viewing patterns that result directly in a purchase will transform the way we plan and optimise our campaigns. With Sky IQ’s tools, we are at the forefront of the next generation of advertising and marketing strategy.”
About Sky IQ
Sky IQ, a wholly-owned subsidiary of BSkyB, specialises in helping clients track customer behaviour across a number of channels to provide them with a fuller picture of their consumers. This data-driven insight can be used to inform future marketing campaigns and steer strategy and investment.
Homebase is a leading home enhancement retailer selling around 38,000 products for the home and garden. It has 333 large, out-of-town stores throughout the UK and Republic of Ireland serving around 60 million customers a year, and a growing internet offering at www.homebase.co.uk. In the financial year to February 2013, Homebase sales were £1.4 billion and it employed some 18,000 people across the business.
Homebase is part of Home Retail Group, the UK’s leading home and general merchandise retailer.
At Mindshare we relish challenging what the future holds - for the media landscape and for our clients - to ensure we are at the forefront of change. We see media as the space where content, people, and technology meet. This space is continually evolving – driven by innovation in technology, increasing data intelligence, and an open, collaborative and creative culture – and in order to succeed in this rapidly changing space we believe that brands and businesses need to be both adaptive and inventive to survive. Therefore adaptive and inventive now runs through the heart of everything we do at Mindshare, from creating cultural and commercial value for our clients’ brands, developing new technology, products and services; helping our clients understand and harness emerging opportunities; and finding new and positive ways to connect with people.
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Homebase Media Relations
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Chief Client Officer
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Published on: 5:00PM on 15th April 2014