Is there a link between engagement and sales uplift?
I’m working on internal project (Next Best Action) with Arjun and Pratik where we trying to use “digital engagement” as the variable to maximize – assuming that higher engagement (implying higher open, click rates etc.) drives sales. While we’ve empirical proof in form of some regression results for the same, I was searching for some industry wide studies around the same.
All I could find was some qualitative study linking the two – the only study that seemed to have some quantifiable connection between the two was the AffinityMonitor study done in 2016 (as quoted in FierceBiotech) under you.
I was wondering if there was an additional component to the study which quantified the impact of digital contact on product sales – if anyone has a reference, let me know.
There is no such solution available as of now. We are working on something similar, so in case you have any questions please reach out to Sagar/Arjun/Pratik/Sarthak.
There’s been some analysis on a handful of techniques that can drive engagement. Popular examples include social media, storytelling, and content marketing. But most of this analysis has focused on tactical execution, as opposed to how knowing what the customer really wants (read: the customer’s psychology) can help you drive engagement.
This may come out more concretely and quantitatively in cases where the campaign has gone viral ; on any digital platform ; FMCG sector may have some examples : Oreo, Coke , Pepsi etc . The method of attribution in most cases is some form of regression .