Marketers have data coming at them from every direction, and creating insights out of it can be a challenge. But ever the innovators, some brand marketers are beginning to experiment with connecting marketing data to merchandising data to maximize the value of what's available to them. Jim Hertzfeld, chief strategist at digital agency Perficient Digital, spoke with eMarketer’s Caroline Cakebread about what brand marketers have achieved by taking this step. Hertzfeld was interviewed as part of eMarketer’s August report, "Using Marketing Data for Merchandising: Optimizing Inventory Levels and Launching New Products."
Is the concept of connecting marketing and merchandising data still theoretical, or are you seeing clients putting the idea into practice?
We do have several clients who are actively wiring marketing data into traditional merchandising and planning data. This is not a new concept, and some attempted it a few years ago with merchandising only, and there were some spectacular failures. Most of our clients are taking a slow, test-and-learn approach.
Can you give an example of the benefits of wiring marketing and merchandising data together?