Footasylum boasts 8400% return of advertising spend thanks to AI
Footasylum has hailed the success of “being an artificial intelligence-driven retailer”, boasting an 8400 per cent return on advertising spend (ROAS).
The footwear retailer has today revealed that since integrating Peak, an AI-driven data analytics company, into its operations it has seen its ROAS grow to more than 30 times the industry average, and increased its email revenue by 28 per cent.
Peak’s system used customer data to determine which people were most likely to be engaged with and be in the market for Footasylum’s products.
These profiles were then used to target “lookalike” audiences on social media in order to acquire new customers for the brand.
“We’re gaining a lot from being an Ai-driven retailer, and the results of our social advertising campaigns speak volumes,” Footasylum’s head of commerce Tom Summerfield said.
“AI and machine learning are complementing our marketing efforts perfectly, allowing us to speak to the 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 not 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 excited to expand our use of Peak and find out how AI can influence other areas of our business.”