Leading U.S. retailer takes data-driven approach to enhance the omnichannel consumer experience
Neustar, Inc. (NYSE: NSR), a trusted, neutral provider of real-time information services, today announced that Pier 1 Imports, the original global importer of home décor and furniture, has chosen Neustar MarketShare to evaluate its marketing efforts across channels. Through this partnership, Pier 1 Imports hopes to more accurately measure the impact of its marketing expenditures on consumer actions by using the award-winning MarketShare DecisionCloud solution to optimize its various marketing investments.
With the continued rise in online retail sales, Pier 1 Imports needed a forward-thinking strategy to link the impact of marketing spending to consumers’ buying behaviors and to adjust digital tactics in-flight. With a hyper focus on the shifts in buying habits, Pier 1 Imports is ensuring that its marketing campaigns remain relevant and personalized by employing MarketShare DecisionCloud.
“At Pier 1 Imports, it is imperative for us to reach our customers in the right place at the right time with the right message, so that we can direct our spending and messaging for maximum impact,” said Eric Hunter, Executive Vice President of Marketing, Pier 1 Imports. “By employing the advanced analytics and predictive models available in the MarketShare DecisionCloud, we can make even more effective marketing decisions and pinpoint exactly which efforts are driving sales and customer engagement.”
With the proliferation of media channels and data, marketers are required to adapt their marketing strategies and spending to the most influential touchpoints along the consumer journey. MarketShare DecisionCloud will provide Pier 1 Imports a holistic view of their marketing spending and identify the customer’s path to purchase. The retailer will be able to understand which marketing tactics produce the best results and where the next marketing dollar should be allocated for maximum ROI.
“Adding another retail client to our growing roster of clients reaffirms the need for data-driven insights that help marketers pinpoint what is most relevant to consumers at each stage of the purchase journey,” said Wes Nichols, Chief Strategy Officer, Neustar. “As marketers continue to adapt to the rapidly changing retail marketing landscape, they require laser precision and a carefully stitched together view to make critical marketing spend decisions across an array of channels and customer touchpoints.”
Pier 1 Imports’ distinct commitment to the omnichannel consumer journey led to the selection of a technology platform that reconciles and measures the effect of marketing investments across channels and product areas. Pier 1 Imports required a holistic multi-touch attribution and marketing mix solution, which goes beyond the outdated last-click methodology, to one that focuses on the contribution each marketing effort is having on sales, both online and offline.
MarketShare DecisionCloud is a dynamic and predictive decision engine, which marketers can rely on to help them make savvy marketing decisions, drive growth and ultimately link marketing to revenue. With a 360-degree view of their data assets and up-to-date analytics, marketers can shift and reallocate marketing dollars, in real-time, to critical areas along the customer journey.