Peak helps Footasylum become ‘AI-driven retailer’
Footasylum has expanded its partnership with Peak to introduce AI and machine learning algorithms into a recent social media advertising campaign. The retailer claims that this has led to an 8,400% return on ad spend, compared with an industry average of 287%.
It used Peak’s tech to create a predicted customer view of people most likely to be engaged with, and be in the market for its products. These profiles were then used to target lookalike audiences via social media in order to acquire new customers to the brand.
“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,” says Tom Summerfield Head of Commerce at Footasylum.
“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.”