MikMak, a software company that helps the world’s leading brands grow commerce-first, has unveiled the latest innovations to MikMak 3.0, its e-commerce enablement and analytics platform.
These product enhancements, coupled with MikMak’s new partnership with leading global advisor on consumer behaviour, Circana, will offer brands insights on how digital marketing influences their offline sales lift, prevent cart abandonment, and implement strategies to convert shoppers in a turbulent and highly competitive economic context.
Measuring the impact of digital marketing on in-store sales: MikMak and Circana’s Digitally Influenced Offline Sales Lift Report
While the majority of brands’ revenues today come from brick-and-mortar sales, today’s consumers are focused on digital. Research from Forrester notes that U.S. digital-influenced retail sales are expected to reach $3.8 trillion (+7.2%) by 2027. In this context, brands need a better understanding of the channels, platforms, and retailers driving the highest offline sales impact.
To overcome this industrywide pain point, MikMak partnered with Circana to create a first-of-its-kind solution to measure the impact of MikMak-enabled digital marketing on offline sales lift. The Digitally Influenced Offline Sales Lift Report enables eligible U.S. brands to confidently understand three types of insights:
- Digital marketing’s overall impact on offline sales, by channel, campaign, and more
- Demographic insights into who is most likely to make in-store purchases after interacting with digital marketing content
- Incremental sales values to strengthen relationships with retailer partners and advocate for more in-store shelf space and better positioning online
Michael Quinn, senior VP of global media at Circana, said: “Understanding the relationship between omnichannel marketing, online sales, and offline sales has long been a challenge for brands, and we’re thrilled to partner with a market leader like MikMak to bring this solution to their impressive roster of brand partners.
“With MikMak and Circana’s new analytics capabilities, MikMak’s brand partners will be able to get actionable insights into their offline sales, justify their digital marketing strategies, and strengthen and develop partnerships with retailers.”
Shortening the path to purchase: MikMak Commerce Direct Add to Cart capabilities
Accelerating sales and retaining customers means resolving continuous pain points in the path to purchase, specifically cart abandonment. A recent study found that 17% of online shoppers have abandoned their shopping carts due to a complicated and lengthy checkout process.
MikMak’s new Direct Add to Cart feature enables quick, easy, and efficient checkouts, as it allows shoppers to send a selected product directly to the retailer’s cart with a single click, from all types of media and brand websites. This eliminates points of friction that could lead a would-be customer to abandon their cart and decide to shop later – or elsewhere.
Transforming recipe content into conversion opportunities: MikMak Commerce Shoppable Recipes
In an ultra-competitive e-commerce landscape, brands must ensure their products are easily discoverable and purchasable across all digital touchpoints and content types.
MikMak’s new Shoppable Recipes help brands increase basket value and accelerate sales by transforming recipe content into conversion opportunities directly from their brand websites. This empowers consumers to make quick purchases directly from a brand’s recipe content at their preferred retailer and allows brands to simultaneously collect valuable first-party data to optimise future marketing efforts. In addition to helping accelerate sales, this new feature can unlock partnership opportunities for brands, who can market well-fitting complementary products together.
MikMak 3.0: More growth and innovation to come
Rachel Tipograph, CEO and founder of MikMak, said: “Maintaining profitability and increasing sales is on every brand’s mind in our current global economic context. Our newest partnerships and advancements to MikMak 3.0 address this by making products more discoverable, unlocking a deeper understanding of markets and consumers, and revealing crucial offline sales data so brands can make informed decisions about their marketing and advertising dollars.
“Our strategic partnership with Circana ensures brands remain at the forefront of the e-commerce insights landscape and stay ahead of the competition.”
MikMak has seen tremendous growth in 2023. Its acquisition of France-based analytics software Swaven accelerated the company’s global expansion and product innovation, while the addition of the Shoppable Media and Brand Analytics product lines from competitor ChannelAdvisor (CommerceHub) means MikMak owns the majority of global GMV and media impressions.
In 2024, the company is set to expand its product portfolio into new areas of brands’ commerce marketing tech stacks, including new AI-powered predictive analytics tools, further attribution capabilities to equip brands with more data and help them combat walled gardens and privacy regulations, additional data partnerships to provide deeper omnichannel insight and improve decision-making, and an optimised integration of MikMak into brands’ data lakes, analytics platforms, and business intelligence (BI) tools via API.
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