What benchmarks do bricks-and-mortar retailers use to measure the effectiveness of their advertising?
According to the National Retail Federation, bricks and mortar retailers spend 3.5% of sales on their marketing programs. I’m researching an idea for a new technology startup and want to learn about the benchmarks for success in driving foot traffic and/or purchase activity. Advertising (along with direct marketing) seems to be an important component. As input to our business plan, I would really appreciate having the benefit of some expert insight about how retailers measure advertising effectiveness and how they decide what advertising to buy. If you’ve worked in marketing for a retailer, or an agency that serves the retail industry, I’d really appreciate connecting with you on this and perhaps broader topics. We really need your expertise. Thanks!
