New News: Dynamic Logic and IRI Partner to Integrate Attitudinal Insights and Purchase Data for CPG & Retail Marketers January 7, 2010
Posted by Mark Blei in : Dynamic Logic Press Release, Sales and Marketing , add a commentDynamic Logic Announces New Partnership with IRI and Introduces New Solution To Integrate the Branding and Sales Effects of Digital Ad Campaigns
Findings from Pilot “AdIndex Connects with IRI” Study Demonstrate the Power of Bringing Together Attitudinal Insights and Purchase Data
New York, December 2, 2009 – Millward Brown’s Dynamic Logic announced today the launch of “AdIndex Connects with IRI,” a new solution powered by IRI (Information Resources, Inc.) consumer and shopper insights. The solution is part of the DLConnects™ family of solutions and enables CPG and Retail marketers to answer the essential questions surrounding campaign effectiveness: “how did my online ad campaign impact consumer perceptions of my brand?” and “did it help drive sales?” The solution is built on the foundation of Dynamic Logic’s AdIndex®, the leading source for measuring the brand impact of digital advertising.
“As digital becomes a bigger piece of the marketing mix, we continue to develop innovations that bring together the best of the online and offline worlds,” said Mary Ann Packo, CEO of Millward Brown North America. “IRI’s consumer and shopper knowledge is a great complement to our expertise in building brands, and together we can provide insights that help move our clients’ businesses forward in the digital world.”
”Partnerships like the one that we are announcing today with Dynamic Logic enable marketers to quantify the offline sales impact of their digital media campaigns,” said Robert (Bob) I. Tomei, President of Consumer and Shopper Insights, IRI. “IRI’s rich purchase data and consumer insights combined with Dynamic Logic’s unique ability to measure the brand impact of digital advertising deliver an extremely powerful approach to fully understand the return on investment of their online media programs.”
“AdIndex Connects with IRI” integrates Dynamic Logic’s proprietary technology for determining exposure to digital advertising with IRI’s ever expanding view of the consumer and shopper (via its Consumer Network panels) which provides key purchasing, demographic, attitudinal and usage information. In addition to in-depth branding measures and short-term sales impact, the solution also assesses how effective a campaign is at reaching specific behavioral targets such as high-volume shoppers in a brand’s category or frequent shoppers of a competitor’s brand.
Case in point: In a recent study for a consumer packaged goods company, attitudinal data showed online advertising had positive results on brand metrics but did not significantly impact the number of individuals intending to purchase. Further investigation of IRI’s Consumer Network purchase data revealed that exposure to the ad campaign did result in incremental sales although not among new buyers. Rather, exposure to the online ad campaign drove existing buyers to make additional purchasing trips thereby increasing sales. Building on this story, Dynamic Logic then investigated the specific creative executions that proved to be more effective at driving purchase intent among existing buyers and made recommendations on how to enhance the campaign to resonate with non-buyers.
“While the industry has made great progress in moving ‘beyond the click’ in terms of measurement, the reality is that many marketers still evaluate their campaigns based on ad interaction metrics alone,” says Ken Mallon, SVP Custom Solutions of Dynamic Logic. “Dynamic Logic continues to believe that, in order to be considered effective, advertising placed on any media must either change people’s perceptions or increase sales. Partnering with IRI allows us to enhance our DLConnects ad effectiveness offering in a very tangible way and to continue to help clients maximize ROI.”
Media Coverage:
Top story in Ad Age today! View Ad Age article:
IRI-Led Consortium Aims to Tie Digital Ad Spending to Purchases
IRI Unveils Platform to Gauge Ad Effectiveness
Dynamic Logic Translates Purchase Intent into Estimated Sales with Conversion Index September 22, 2009
Posted by markblei in : Sales and Marketing , add a comment
We are pleased to announce the official launch of our ROI-driven solution — Conversion Index. Conversion Index allows our clients to further understand the branding impact of their campaigns by translating Purchase Intent into estimated sales.
In today’s economy, as the need for ROI grows, our clients often want a metric closer to actual sales. Through Conversion Index, an add-on to brand studies, clients can quantify impact of a digital advertising campaign by converting a Purchase Intent delta into an estimate of actual purchase or other KPI measures.
Conversion Index can be ideal for estimating sales impact of established or new products, line extensions, new formulations, etc. and can offer insight in these areas and more:
- How many people who say they are going to buy my product actually do?
- How many incremental purchasers were there? Incremental purchases?
- Where did I source my incremental purchases from? New customers? Existing customers?
- How can I convert a non-sales event, like intent to go see a doctor, into actual behavior?
To learn more about how Conversion Index can help you convert Purchase Intent into estimated sales, contact sales@dynamiclogic.com
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