A Fresh Look at 50+ Consumers
The importance of consumers age 50+ is not always recognized, this research confirms. It also finds that this group is changing in some surprising ways.
retail & restaurants
Improving Market Mix Models for Better Forecasts
At our recent event, presenters focused on the limits of marketing mix models (MMM), as well as solutions to overcome their limitations to improve forecasts.
FORECASTING 2023: Managing Risk — How Businesses Can Get Better Visibility into the Near and Long-Term Future
Managing business risk involves having a rational, data-driven view of the future while simultaneously being as prepared as possible for external shocks — from a global pandemic and the ensuing supply-chain disruptions, to inflation, data signal losses, war, and great power competition. At our annual Forecasting event, held virtually on July 18, leading experts shared how businesses can adapt forecasting techniques to manage risk.
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How Businesses Can Get Better Visibility into the Near and Long-Term Future
Managing business risk involves having a rational, data-driven view of the future while simultaneously being as prepared as possible for external shocks — from a global pandemic and the ensuing supply-chain disruptions, to inflation, data signal losses, war, and great power competition. At our annual Forecasting event, held virtually on July 18, leading experts shared how businesses can adapt forecasting techniques to manage risk.
Member Only AccessFast(er) Causal Attribution
The presenters analyzed the past attribution challenges for Chipotle and proposed new measurement solutions. Chipotle wanted proof that its TV commercials drove sales. Chipotle and WarnerMedia developed an outcome-guaranteed deal based on sales lift, rather than impressions. For Chipotle, incremental transactions are most important. These transactions were also measured for the competitors. The goal was to provide purposeful, visible, and accountable results.
Inside the Journal of Advertising Research: Advertising Creativity and Strategy
Journal of Advertising Research authors presented their work published in the March issue of the JAR. Creativity experts delved into the creative-idea generation process and the conveying of brand passion in advertising. Strategy experts explored effectiveness of six-second TV commercials and how advertising and promotional effects drive QSR sales.
Consumer Behavioral Shifts: Why Your Marketing Measurement Must Adapt in 2022 and Beyond
Consumer behaviors have changed dramatically creating new challenges for brands and their marketing measurement. During this Insights Studio, we explored the measurement challenges brands have faced in the wake of significant consumer changes. We also discussed best practices brands should be using to ensure their marketing measurement is set up for future success as consumers continue to react to major societal change. Executives from OptiMine, an agile marketing analytics provider, Kepler, a global digital agency, and Beachbody, an innovative health and fitness company, shared their observations on how changes in consumer shopping and media consumption behaviors have been reflected in marketing measurement.
Leveraging Purchase Signals to Drive Growth
Sharing their cross-channel campaign evaluation using IRI’s household lift studies, Lisa Mulyk and Liz Ryan from IRI illustrated the strengths of purchased-based data and targeting across brand portfolios. Creative messaging and sales for “must have” and “nice to have” products were examined, comparing the broader affinity, lifestyle and demo audience against the more specific purchase-based audience.
Evidence-Based Research for Effective Marketing
On November 9, 2022, industry leaders joined us to share highlights from EffWorks Global 2022 — a week-long celebration of the best new thinking and evidence-based decision-making research for marketing effectiveness. Topics of discussion included: marketing in the post-Covid economy, effective advertising in unprecedented times, the value of Share of Voice/Share of Attention/Share of Search in terms of effectiveness and commercial decision making, and more.
Transforming Media Planning & Activation at Walgreens through Unified Marketing Measurement
Walgreens’ three-year change management evolution, in partnership with Ipsos MM, embedded unified marketing measurement (UMM) into tactical and strategic decisions at the retailer. This approach to change management included simulated impact testing, validated results and provided proof points. Douglas Brooks of Ipsos MMA provided a current overview of UMM at Walgreens, which consists of monthly marketing mix models, weekly attribution models and continuous validation through testing. Jenny Peelle of Walgreens stated that this approach impacts decision making, including what businesses to support, reach and frequency management and an understanding of attribution for individual KPIs as well as for enterprise business growth objectives. The resulting shift to UMM increased revenue at both the business unit level and for the entire enterprise.