Better Customer Targeting Through Greater Understanding

Measuring CPG on a More Sophisticated LevelDupree pictured top left believes that quotin an environment that is increasingly focused on outcomes NCS is the sweet spot in the CPG marketquot NCS may have started in the traditional forms of audience measurement but quotincreasingly we do targeting optimization and eventually we will move more into predictive measurement applicationsquotFor Wood pictured top right who has been with NCS for eight years quotthe company started with overall measurement and targeting and recognizing from the first the incredible capacity and value of the dataquot She added that even years ago there were multiple sources for every piece of data which made it especially useful to help track the consumer intent and journey And with some of those sources of data overlapping it was also possible to verify the data veracity Some of the data comes from panels some from settop boxes some from shopping and purchasing data some from outside suppliers of data and some from Nielsen quotThese layers give you the understanding of the biases and the things you don39t do wellquot she explained adding quotand that has all formed a canvas which gave us the ability to go out and create a richer understanding of how advertising worksquotNew Products and ServicesNCS established a range of services around all of this research because as Dupree explained quotthe quality of the underlying data resulted in a richness of insightsquot There are also new technologies that provide tools to examine the data in new ways quotData guides everything we doquot Wood saidSome of the new tools NCS has released include the Sales Lift metric SLM which is delivered weekly for a campaign quotso changes can be made inflightquot Wood noted SLM gives advertisers the ability to see what39s happening across different tactics at the same time and compare them to see which are and not working and then reallocate The ability to examine campaign efficiency to potentially deploy dynamic ad insertion gives SLM added value to advertisersA Changing MarketplacequotThe market is looking for 39faster and better39quot Dupree said Her team is focusing on that mandate as well as quotgrowth in CPG in a world where consumers have a choicequot Twenty years ago she explained there used to be about 7000 SKUs in a grocery store now there are about 50000 because the variety of consumer products has changed so extensively This has resulted in much more competition in the CPG space Marketers need to be sure that their money is being spent wisely and efficiently and results in sales impactquotThere is also an abundance of channels in the media worldquot Dupree continued quotWith the shift in OTT and linear and addressable and VOD as well as other traditional channels like magazines and radio we are awash in choice and that has been important for us to understand and measurequotWhat Resonates in CPGDespite the data available some CPG marketers in this new media environment are still more focused on price than efficiency But to Wood this is not a trend across the board quotA lot of the stories about spending less may not be from national advertisersquot Wood said quotThere is a lot of spending from tiny brands where the budgets are very low When you look at budgets of over a million dollars it is a different storyquotWood pointed out that advertisers also need to balance how much they emphasize creative versus media strategy Creative matters a great deal in a campaign she said adding that quotthe creative is the starting point We are also seeing that the importance of media decisions has increased a lot over the last few yearsquotDupree added quotThere are also so many more levers to pullquotMedia has gained in importance especially in regard to targeting An advertiser would want to target brand loyalists for example but should also consider targeting nonusers likely to purchase as well as users of a competitive brand This will expand the potential customer base and help to build the brand over time quotWhen you talk about the brand promisequot Wood stated quotit speaks to the essence of the brand and what the brand stands for The interplay of media with targeting creative and how they come together to drive results have been some of the richest findings we have hadquotPersonalization is another big consideration so brands can quotmeet the consumer where they are especially through ad versioningquot Dupree said All in all the confluence of datadriven advertising within the CPG world is resulting in not only better targeting of consumers but also a greater understanding of their needs wants and concerns quotWe feel that we are in more of a dialogue with consumers and it is a much more personalized experiencequot Dupree said quotThis should greatly improve efficiencies by reaching consumers at the right time in the right place and with the right messagingquotClick the social buttons to share this story with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writers

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Better Customer Targeting Through Greater Understanding

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Charlene Weisler

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Better Customer Targeting Through Greater Understanding

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