Keywords: DFS Furniture plc, DFS, furniture retailer, marketing effectiveness, ROI, digital transformation, data-driven solution, Beyond, managed services contract, Growth Engine, machine learning models, hyper-local market view, catchment area market share, customer headroom opportunities, cannibalization, enhanced data, actionable insights, sales increase, marketing spend reduction, digital marketing shift, search marketing ROI increase.
DFS Furniture plc, known simply as DFS, is the leading furniture retailer in the UK, Spain, the Netherlands, and Ireland, specializing in sofas and soft furnishings. With an impressive annual revenue of around £1.2 billion, DFS sought to enhance its marketing effectiveness, return on investment (ROI), and digital transformation efforts. They needed a comprehensive, data-driven solution that would improve their understanding of the market and help drive strategic decision-making across the organization.
Beyond, a data-driven business solutions company, stepped in to partner with DFS. Their collaboration began on a project basis for technical requirements such as data engineering, data operations, and specific marketing and customer insights analytics projects. Over time, their partnership evolved into a long-term managed services contract.
The most significant milestone in their partnership was the development of the Growth Engine. Beyond's machine learning models allowed for a 360-degree view of the market at a hyper-local level. By merging diverse datasets, Beyond was able to outline the catchment area market share and define customer headroom opportunities, including potential cannibalization.
Beyond continuously improved the Growth Engine with enhanced data to refine the models and drive further performance. This collaborative approach provided DFS with actionable insights and empowered them to make data-driven decisions.
The Growth Engine has significantly impacted DFS's marketing efforts. Between 2018 and 2021, it contributed to a 31% increase in sales while simultaneously reducing overall marketing spend by 25%. DFS's shift towards digital marketing was profound. The Growth Engine's enhanced econometric modeling facilitated a shift from 18% digital marketing in 2019 to 39% in 2022. The collaborative efforts between DFS and Beyond led to a 48% increase in ROI in search marketing between H1 FY20 and H1 FY22.
The Growth Engine has played a vital role in driving strategic decision-making at various levels within DFS, delivering exceptional business benefits across several areas. By harnessing the power of data and focusing on a collaborative approach, Beyond has helped DFS optimize their marketing efforts, enhance ROI, and successfully navigate their digital transformation journey.
At Beyond, we believe that data is more than just numbers; it is the key to unlocking insights, making informed decisions, and achieving outstanding business outcomes. Our mission is to empower our clients to harness the full potential of their data and drive meaningful growth.