Development of approaches to evaluating the marketing campaigns effectiveness for loyalty programs participants in retail (using the example of a pharmacy chain)
DOI:
https://doi.org/10.52575/2687-0932-2022-49-1-92-102Keywords:
marketing, control group, gross profit, bonus program, statistical criterionAbstract
Solving problems related to evaluating the effectiveness of marketing campaigns is a prerequisite for planning the marketing strategy of a retail organization and developing loyalty programs. The article presents an algorithm of a general approach to analyzing the effectiveness of stocks, including the principle of forming control and main groups with an assessment of the identity of the average values of the main target indicator in each group using statistical criteria. In the future, it is proposed to assess the reliability of differences between the average values of the target indicator in the control and main groups in the period before the promotion and in the promotional period. The subsequent analysis involves the construction of models and calculation of the profit from the stock for the actual and simulated targets. Using the example of a large pharmacy chain, an assessment of the effectiveness of two marketing campaigns aimed at participants of the existing bonus program is presented. The average daily revenue per participant of the bonus program was chosen as the main target indicator. When calculating the profit of the organization, the average trade premium of the pharmacy organization, the duration of the promotion, the size of the main group, as well as the cost of SMS, the size of the bonus for the participant of the promotion, the share of bonuses paid were taken into account. It was shown that the increase in the target indicator was not statistically reliable, while in order to achieve a positive economic effect, a revenue increase of 14% was needed for a four-week promotion, and 21% for a two-week one. The use of the proposed approach in the preliminary planning of marketing campaigns will allow us to assess the possibility of reaching the break-even point and make a decision on the feasibility of conducting, adjusting the duration and target audience of the campaign.
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