Marketing can be termed as a continuous effort to connect and remain connected to the heart and mind of your customers. Effective marketing drives sales and increases consumer engagement and retention. All successful marketers know that they need to measure marketing KPIs to chart out a result-oriented marketing strategy. NeuroTags solution covers crucial marketing KPIs that help marketers to achieve their marketing goals.
Why NeuroTags?
Our vision is to make the world free of fakes and counterfeits. As consumers ourselves, we want us to be able to connect to the makers of our products and tell them what we want, by being appreciators and critics; to be able to tell them what they should improve in the next version so that we will be there, even in a long queue, to buy it “the first”.
We value the most, the connection to the heart and minds of consumers, and our technology and offerings are all centered on it. We work with the brands who believe in the same and empower them with our technology and learnings.
How NeuroTags works?
NeuroTags solution enables digital consumer marketing on brands’ physical products. And NeuroTags does this by providing patent-pending dual-code technology NeruoTags codes to the brands. These codes are unique for each product item. Once a brand incorporates these codes on their product packaging, NeuroTags AI-backed marketing solution comes into action.
Most of the brands run some loyalty programs or provide a warranty for their products. Both of these help brands to increase consumer engagement and retention. Brands and consumers can reap the maximum benefits if the loyalty and warranty are in digital form. Consumers get the ease of registering and claims, and brands get to collect consumer behavior data. NeuroTags marketing solution helps marketers to measure important marketing KPIs drawn from consumer-product interaction data.
What is the NeuroTags code?
Each NeuroTags code contains two parts – pre-purchase code, post-purchase code. These codes are unique for each product item. NeuroTags codes enable consumers to interact with the products, and in turn enable the products to play a crucial role in measuring the critical marketing KPIs for the brand.
Marketing KPIs covered by NeuroTags Solution
Conversion Ratio
The solution calculates the conversion ratio by providing the statistics on the number of pre-purchase tag scans vs purchases. This ratio helps in understanding how many people are showing interest in the product, and how many of then are buying the product.
Expert Tip: Brands need to be creative and use their USP in CTA to encourage buyers to scan the pre-purchase code.
Purchase vs Loyalty
Running the loyalty programs are a great marketing tactic. But, as a brand, how do you measure the success of the program accurately? With the NeuroTags solution, brands can measure the effectiveness of the loyalty program easily. NeuroTags loyalty program solution lets the brands run loyalty programs digitally. Customers just need to scan the post-purchase tag to participate in the loyalty program. The digital nature of loyalty programs not only makes it easy for customers to participate but also enables the brands to measure the success of the loyalty programs.
Counterfeit Scans
Counterfeiting is a huge problem. It is essential for marketers to be aware of the extent of counterfeiting happening for the brand. This information can be extremely helpful in coming up with a marketing strategy that also helps in countering the counterfeits. NeuroTags solution provides the percentage of counterfeit incidents in real-time.
Consumers Overview
Here brands get a complete overview of the total consumers, active consumers, returning consumers, new consumers, active buyers, returning buyers, and new buyers. Along with the numbers, the change in them is also represented in percentage form in the last 30 days. All the information is also displayed in chart form for quick understanding.
Revenue Overview
Brands get a quick overview of total revenue and bifurcation of revenue with respect to returning buyers, new buyers, returning loyalty buyers, and new loyalty buyers.
Sales Channel
Here brands get an overview of channel-wise revenue versus the active users in each channel. This information helps brands to quickly assess the revenue against the marketing efforts put in for each business channel.
Consumer Satisfaction
Consumer satisfaction is an important marketing KPI and is often difficult to measure. NeuroTags solution also acts as a platform for the customers to submit their feedback about the products. NeuroTags marketing solution shows the totals number of customers who have submitted their feedback and how many of them are satisfied with the brand products.
Location Wise User Count
This information too is very crucial for effective brand marketing. NeuroTags solution provides location-wise bifurcation of the number of users for the brands. Locations could be the cities or the countries as per the brand’s requirement. This information is very helpful in deciding the right marketing strategy for each location.
Conversion ratio
Here, the NeuroTags solution provides the number of total product scans, how many of them were sold, and how many of the product buyers participated in loyalty programs.
Brand NPS
Net Promoter Score(NPS) is very important in assessing a brand’s performance. NeuroTags marketing solution calculates and shows the NPS for the brands.
Consumer Lifetime Value (CLV)
Customer Life Value is another critical KPI for marketers. NeuroTags Marketing solution dashboard calculates and displays CLV for the brands.
Average Days Between Purchase
This is another very important aspect of consumer marketing. The strategy to reach out to frequent buyers can be different in comparison with occasional customers. NeuroTags marketing solution shows bifurcation of consumer percentage according to the average frequency of purchase. For instance, what percentage of consumers buy in 10 days, how many in 25 days.
Campaign Analysis
Here marketers can review the performance of the various marketing campaigns for the brand. Brands can also export each campaign’s detailed report for later use.
Please contact us to know more about NeuroTags Marketing Solution.
