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Tapestry’s channel insights have also allowed BAM to identify how the channel mix impacts their product mix. While understanding each audience’s buying preferences is helping with decisions around product lines and stock requirements.
BAM is now developing a more considered discounting strategy, reducing reliance on blanket discounting and focusing on personalised offers and promotions. This improves margins and can drive customer loyalty.
Greater channel control has created a flexible and adaptable business that is more responsive to changing market dynamics. Tapestry’s in-depth reporting includes not just sales and response rate metrics but repeat orders levels, average order value, revenue-per-click and lifetime value, so BAM can really understand their marketing
activity. Insights into how BAM’s spend allocation is impacting channel performance allow them to dial channels up or down, based on changing market conditions.
This has already paid dividends for the business. “Our ability to alter our channel strategies quickly means we were better prepared as a business to respond to the impact of Coronavirus and the subsequent lockdown” commented Ryan Shannon, Managing Director at BAM. “Working with The Tapestry Agency to understand the value of each channel gave us the confidence to make rapid spending decisions, quickly changing how we allocated our marketing budget when consumer buying habits suddenly shifted. This will also be critical as we move into the autumn/winter season, with the business
well-placed to react to changes in the economy and consumer behaviour whether these come in the form of challenges or opportunities.”
Talk shop with your fellow business owners
If you’re a business leader or head of marketing/ecommerce at a multi- channel brand, please join our Tapestry Briefings. Held regularly, these virtual events bring together owners and senior directors to discuss current business issues impacting the industry. To find out more visit our Events section at
thetapestryagency.com
homeofdirectcommerce.com | Direct Commerce 25
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