Crate and Barrel selects Visual IQ for cross-channel marketing attribution
Needham, Mass. – Visual IQ, a cross-channel marketing attribution software provider, announced that it has been selected as the exclusive marketing attribution provider for Crate and Barrel. The brand will deploy the company’s IQ Intelligence Suite to measure and optimize marketing spend across its myriad of online and offline marketing channels.
In addition to its 86 retail locations, Crate and Barrel sells a considerable variety of goods through its direct-mail catalog and online e-commerce website. Though sales remain strong in each of these channels, the customer path to purchase is often extremely complex and poses a major challenge to track and measure. Crate and Barrel turned to Visual IQ to help understand if and how their marketing efforts are contributing to sales across each channel, and as well as where they should be allocating future spend to maximize their budget and drive greater revenue.
Visual IQ’s attribution management solution determines how much fractional credit should be given to each marketing touchpoint that contributes to a conversion, regardless of where the ultimate conversion occurs. By implementing the IQ Intelligence Suite, Crate and Barrel will be able to understand the intricate mix of channels, campaigns and tactics driving sales, and with this insight, optimize their media spend toward the marketing mix that will be most effective. The retailer will utilize both the IQ Envoy and IQ Sage products to manage marketing data and incorporate attribution recommendations into both its online and offline media planning and buying efforts, including direct mail, display advertising, paid and organic search and more.
Following a very competitive selection process, Crate and Barrel chose Visual IQ due to its technical capabilities in and proven experience with combining both online and offline marketing channels in its attribution modeling, which was a top criterion given the retailer’s multiple sales channels and the multifaceted marketing mix that support them. The deployment will begin immediately across all of the retailer’s U.S. marketing channels.
“In the era of bricks-and-clicks retailing, cross-channel attribution is absolutely critical to understanding campaign effectiveness and maximizing media spend,” said Manu Mathew, CEO and co-founder of Visual IQ. “Crate and Barrel has always been a trailblazer in the retail space and their decision to deploy attribution proves that pioneering spirit extends into their marketing efforts as well. We’re excited to partner with them as they start this journey and begin to reap benefits.”
Bon-Ton Stores CEO to step down in 2015
York, Pa. — Bon -Ton Stores said its CEO, Brendan Hoffman, will step down early next year. The announcement follows a disappointing fourth quarter for the company.
Hoffman, a former CEO of Lord & Taylor, will leave Bon-Ton on Feb. 7, 2015, when his contract expires. He also will step down as director. Hoffman cited "strictly personal reasons" for his decision to leave.
He was appointed CEO of Bon-Ton in February 2012.
For the fourth quarter Bon-Ton profits declined to $61.3 million from $74 .4 million. The company operates 270 department stores under several banners.
Ashley Stewart files bankruptcy; to close 27 stores
New York — Plus-sized retailer Ashley Stewart has filed for voluntary Chapter 11 bankruptcy protection. As part of its restructuring plan, the company announced it will immediately close 27 underperforming locations. Ashley Stewart currently operates some 168 stores. The company previously filed Chapter 11 in 2010.
In a separate statement, the company said potential buyers have expressed interest in buying the chain.
"We are encouraged to see that several entities from both the financial and apparel industries have expressed interest in Ashley Stewart," said Michael Abate, senior VP of finance. "The plus-sized market is poised for increased growth and the Ashley Stewart shopper is in the prized 25-55 age demographic, when women are at the height of their earning power."
According to the company’s statement, Ashley Stewart has a decline in sales and profitability in 2013 due to a number of factors that have been corrected.