How can agencies deliver the same (if not more) for less?
As the leading advisors on consumer complexity, Circana’s Barry Collins, media and analytics director, shares how marketing and media agencies can deliver the same (if not more) for less in today’s challenging landscape.
Budget conscious shoppers navigating the high cost-of-living is increasing competition and putting greater pressure on stagnant and decreasing marketing and media budget. A key challenge for communications professionals is that expectations are not adjusting to match. The question I am being asked most is how to deliver the same (if not more) for less and connect with the right shoppers? The secret is in the data. And not just any data – high-quality, targeted, purchase-based data.
Driving a higher return of ad spend is essential to win
Fast, granular and easy-to-access audience insights enables marketers and agencies to segment and target with greater accuracy, ensuring ads are seen by the people with the highest propensity to purchase. This level of insight is critical for increasing conversions and delivering successful campaigns.
With past purchase the best predictor of a future sale, purchase-based shopper targeting can deliver up to four times ROI than any other audience type. Combining purchase data with rich demographic data can target audiences most likely to buy, identify the highest sales opportunities, increase brand penetration and reduce wasted ad spend. This is the power of precision media activation at scale across households with the highest propensity to purchase.
