Capstone – Project
Sales Attribution in an Omnichannel Environment
A Collaboration Between
The Challenge in a Nutshell:
Our supplier partners value our marketing services to drive online sales of their products. These services come in the form of email marketing, SMS, onsite placements, catalogs, etc. They rely on the data we provide demonstrating ROAS (return on advertising spend) and direct e-commerce sales attribution of these tactics. Although consumers digest the ReserveBar marketing they can also take purchasing actions offline – at a brick and mortar retailer, a bar or restaurant, an alternative e-commerce site, etc. How can we measure the full power of the ReserveBar marketing engine in an omnichannel environment? Can we develop a factor above direct ROAS (indirect ROAS) that would tell a more complete story? How much sales are driven off-platform?
Activities or Action Items Suggested by Industry Mentor:
-Research/report on any existing examples (from CPG, direct-to-consumer) to develop analogies and/or create proxies for the ReserveBar situation
-Assemble third-party research on sales attribution in an omnichannel environment and draw potential conclusions for the ReserveBar situation
-Develop surveys and other programs to create a test case for full attribution modeling
Industry Partner’s Goal/Definition of Success
We hope to have either a justifiable proxy or test evidence that shows +x factor impact on total sales due to ReserveBar marketing tactics.
Project Topics
Data Management
Marketing
Sales & Business Development
Company Information
| Company | ReserveBar LLC |
| HQ | Connecticut |
| Revenue | Unlisted |
| Employees | 100-500 |
| Stage | High-Growth Startup |
| Hiring Potential | Follow-on Projects, Formal Internship, Entry Level Full-Time |
| Website | https://www.reservebar.com |
Company Overview
ReserveBar (www.reservebar.com) is the leading e-commerce platform for luxury spirits and champagne in the U.S. We enable consumers (as well as companies) to order the most esteemed bottles of alcohol in the world with the convenience of shipping across the United States for both self-consumption and gifting.
The delivered beverage alcohol segment of the industry is in the earliest stage of growth. Currently, 50% of all alcohol is sold off-premise, and only 1.8% of sales is fulfilled via e-commerce and delivery or shipment. By way of comparison, over 14% of retail sales involve e-commerce and delivery, and off-premise dining and flowers are well over 20%.
ReserveBar is close to closing an acquisition that will increase it's size significantly, while adding retail distribution with on-demand fulfillment ability (i.e. under and hour vs. shipment), and a more robust tech stack including an app.
This is truly an exciting category poised for explosive growth!
Experiential Learning Program Details
| School | Fordham University |
| Engagement Format | - |
| Course | MBA On the Spot Consulting Spring 2022 |
| Level |
|
| Students Enrolled | 80-100 |
| Meeting Day & Time | 3 Sessions on Wednesday 3/30, & 4/13 from 3:30 - 5:30 PM ET (https://fordham.zoom.us/j/6097637482) |
| Student Time Commitment | 4-7 Hours Per Week |
| Company Time Commitment | 2 Hours |
| Duration | 2 Weeks |
Program Timeline
Key Project Milestones
-
March 30, 2022 - Deep-dive Into ReserveBar Brand and Current Challenge; Develop Strategy for Successful Project
- What is the Company’s business model?
- How many different products or services does the company offer? How are they categorized and defined?
- What products are the best sellers? (What’s the product mix?)
- What are the different customer segments? What channels are used to earn those customers?
- What are the key drivers for customers to purchase their products?
- Who are the top competitors?
- How would you describe the company’s supply chain? What are the implications for the customer experience?
- What are the current goals for the project? What information do you need from the company in addition to the resources you’ve already been provided? How will the outcomes of the project be used to drive business objectives?
Review the key objectives for the current project:
-Research/report on any existing examples (from CPG, direct-to-consumer) to develop analogies and/or create proxies for the ReserveBar situation
-Assemble third-party research on sales attribution in an omnichannel environment and draw potential conclusions for the ReserveBar situation
-Develop surveys and other programs to create a test case for full attribution modeling
Suggested Deliverable:
- No deliverable required. Suggested project resources to compile/organize/develop:
- Overview of the current challenge.
- A description of the company and its brand.
- High-level description of target audience, customer segments, competitors.
- Company’s needs and goals for the project and anticipated obstacles.
- Preliminary list of resources.
- Preliminary annotations on research findings, industry-related frameworks/practices, approaches, strategies, ideation, etc.
- Plan for successfully completing the project (major action steps/tasks).
-
April 6, 2022 -
- Research/report on any existing examples (from CPG, direct-to-consumer) to develop analogies and/or create proxies for the ReserveBar situation.
- Assemble third-party research on sales attribution in an omnichannel environment and draw potential conclusions for the ReserveBar situation.
- Develop prototype surveys and other programs/tools to create a test case for full attribution modeling.
Suggested Deliverable:
- Research-driven report including recommendations and prototypes. Include case studies, annotations, prototype programs and tools.
- 5-minute Video Presentation
Project Resources
There are no resources currently available
Industry Mentors
Academic Mentors
