Footasylum “outperforms” with AI-driven activity
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Business
Footwear fashion retailer Footasylum is reporting a return on advertising spend that’s 30 times higher than that of the industry average following its switch to an AI-driven social marketing strategy.
Leveraging its partnership with Peak, the pioneer of the AI System, Footasylum introduced AI and machine learning algorithms into their social media advertising campaigns, and this has led to an 8400 percent return on ad spend, 30 times more than the industry average and 10 times higher than Footasylum’s standard marketing return on advertising spend.
Footasylum used Peak’s Customer AI to create a predicted customer view of people most likely to be engaged with, and be in the market for, Footasylum’s products, and these customer profiles were then used to target lookalike audiences via social media in order to acquire new customers to the footwear brand.
Tom Summerfield, head of commerce at Footasylum, said in a statement: “We’re gaining a lot from being an AI-driven retailer and the results of our recent social advertising campaigns speak volumes. AI and machine learning are complementing our marketing efforts perfectly, allowing us to speak to customers at the right time when they are ready to make a purchase, and scaling communication back when they aren’t.
“The aim is to increase efficiency and effectiveness and only invest in marketing at the right time to make a big impact, which is a core part of our strategy moving forward. We’re now excited to expand our use of Peak and find out how AI can influence other areas of the business.”
The result follows the news that Footasylum has reported a 28 percent increase in email revenue from AI-driven hyper-personalised marketing communications.
Richard Potter, chief executive of Peak, added: “So many challenges faced by retailers today can be unlocked by using data to really understand behaviours and build relationships with their customers.
“Footasylum is a great example of a retailer using data and AI to drive forward innovative new marketing methods to engage with customers in the right way, at the right time, with the right offer. These results are only the start of their story, and it’s brilliant to see their customers responding so well to new tactics and technologies.”
Image: courtesy of Footasylum