Food industry: Media strategies in the digital age

05-Jul-2019 - Germany

The media industry is undergoing radical change. Where should FMCG brands invest to increase the efficiency of their media spend? Television rightly still occupies first place in media marketing with the largest reach. But how much longer? Traditional and digital media are entering the market, are diverse and it is almost impossible to compare them. Established marketing practices and principles no longer adequately answer many of the questions brands ask themselves about the best media strategy. That's why brand owners are increasingly demanding more impact on their media spend and a clear statement on the ROI of any investment - analog and digital.

In response, IRI, a leading provider of big data, predictive analytics and forward-looking insights, has developed the IRI Media Profiler, an automated on-demand platform that provides users with rapid and accurate insight into the impact of media on branch-level sales. This enables FMCG manufacturers, media agencies and media owners to easily, quickly and accurately isolate the impact of their media campaigns and optimize media investments.

Based on a subscription model, marketers can store media scenarios and update them weekly, monthly, or more frequently. This provides the necessary insight as to whether campaigns are more or less effective and how they impact sales and deliver a return on investment.

The IRI Media Profiler is aimed at both large and small or emerging brands who either want to measure the impact of digital campaigns on the ground or want to carry out small test and learning campaigns before carrying out expensive, large or national rollouts.

IRI Media Profiler are part of the Innovation Showcases at IRI's International Growth Summit from 8 to 10 July in London. This industry event offers Summit delegates the opportunity to meet IRI's product experts and partners and see live demonstrations of each solution.

Carl Carter, Head of Marketing Strategy & Effectiveness, IRI UK, comments: "The way we shop today is constantly changing, and brands must hurry to keep pace with this changing consumer behaviour. This means that they have to measure, analyse and adapt their media campaigns and marketing activities, often on the fly. Because budgets are spread across multiple activities, marketing and brand managers can't afford to spend money on campaigns that don't increase revenue and don't bring ROI to the business."

"The successful introduction of a media and marketing campaign requires a comprehensive understanding of the media landscape, the interrelationships, the challenges and access to detailed data at branch level. Too often, companies make decisions based on inaccurate data and poorly tested scenarios. IRI offers an unprecedented level of transparency, combined with unique knowledge and insight into the FMCG market, supported by our always-on, fast, accurate and reliable technology platform," said Björn Lingens, Senior Director Solutions & Innovation at IRI Germany. With IRI Media Profilers, FMCG manufacturers and retailers have access to an easy-to-use web interface that provides an intuitive workflow for configuring campaigns, products, brands and categories.

Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.

https://www.yumda.com/en/news/1161791/food-industry-media-strategies-in-the-digital-age.html