Driving business-wide growth with myLakeland Club data
Go Inspire Group
Putting data at the centre of decision making, meant that a 317% YoY increase in incremental revenue, and 442% ROI (vs a benchmark of 80%), were just two of the obliterated KPIs for the year! A true breakthrough with data delivered a hyper-personalised myLakeland experience for every member; making them feel understood, and valued by reflecting their needs in highly personalised direct mail offer packs. Making hyper-personalisation a reality, first meant determining the most relevant selection of products, offers, discounts and content - for each individual myLakeland member! Our approach... to develop a unique, multi-layered targeting model built on: • Unique Advanced Segmentation that challenges traditional RFM • Usage Clustering • Category analysis • Discount Optimisation With targeting deployed in an iterative test and learn programme, changes to offer pack creative were tested against control. Success informed success, but failure also helped to inform what not to do and what to change in the programme. In addition to outstanding incremental revenue and ROI, this hyper-personalised approach also delivered: • A Sales to Cost Ratio of £10.61:1 (vs £6:1 benchmark) • EBIT of 41% (vs 20% benchmark) • Response rate 17.8% vs target of 15% • myLakeland Club member retention significantly stronger (3:1) than non-myLakeland Club customers The perfect example of laser-focused data strategy, driving innovative channel delivery - that in turn delivers tangible growth and the blueprint for a continually evolving value exchange between brand stakeholders and club members.