CHICAGO — March 28, 2016 — IRI™, a global leader in innovative solutions and services for consumer, retail, media and over-the-counter health care companies, today introduced IRI Lift™, the industry’s only real-time digital advertising solution that measures offline sales lift. IRI Lift, developed in partnership with Kantar Shopcom, helps identify digital media optimization opportunities by determining which digital media is most effective with target audiences and ties media exposures to actual offline purchases down to the specific product and household level. A highly intuitive visualization platform delivers in-depth campaign analysis and results that are 80 percent more accurate as soon as five weeks after an advertising campaign begins. With IRI Lift, marketers can better optimize their media allocation to increase return on advertising spending (ROAS) by 30-70 percent.
“In today’s complex, multichannel environment, advertisers and agencies must be able to measure actual sales lift because it’s the best measure of advertising success,” says IRI Media Center of Excellence President Srishti Gupta. “IRI Lift is the only solution available today that delivers deeper, more accurate insights while the campaign is in flight. Taking action on these insights in real time allows advertisers to course-correct and optimize their campaign for maximum sales lift.”
IRI used its 30-plus years of sales lift measurement, marketing mix and analytic modeling expertise and combined it with fully integrated big data assets to create IRI Lift. This powerful solution is significantly more accurate due to the scale of data it captures. This vast dataset includes 60 million frequent shopper household transaction data and all-outlet consumer panel data from grocery, drug, mass and convenience outlets, in addition to IRI’s point-of-sale data, collected from 95,000 stores covering more than 400 billion transactions across all outlets. It also includes macroeconomic factors, health and wellness attributes and more than 20 causal variables, such as price, promotion, weather and gas. These datasets are fused together to create a single-source mega data cube and are analyzed on IRI’s proprietary modeling engine.
IRI Lift delivers the industry’s most granular and most accurate multichannel campaign sales and brand impact reads to drive true one-to-one marketing personalization and revenue growth. Results are available within five weeks and can be broken out by campaign, creative, publisher, ad placement, execution and other factors. Due to larger datasets and proprietary modeling, IRI Lift effectively measures shorter and smaller campaigns with minimum feasibility requirements, as well as large digital multichannel campaigns.
“In the future, most advertising will be addressable,” said Andrew Appel, president and chief executive officer, IRI. “This will foster an era of real time with sophisticated big data personalization platforms that continuously aggregate advertisements, social impressions, purchase and hundreds of other datasets. At the core of this will be real-time, sales-lift measurement that ties actual purchases to media, social and retail exposures for millions of consumers. Companies will need to focus on real-time exposure and sales-lift analytics to continuously make campaign execution adjustments and maximize impact. In this future, currencies to price advertising will be of little value.”
For more information about IRI Lift, visit: http://www.iriworldwide.com/en-US/solutions/Lift.
About the IRI Partner Ecosystem
IRI fundamentally believes that delivering differentiated growth for clients requires deep, highly integrated partnering with a variety of best-of-breed companies. As such, IRI works closely with a broad range of industry leaders to create innovative joint solutions, services and access to capabilities to help its clients more effectively compete in their various markets and exceed their growth objectives. IRI is committed to its partnership philosophy and continues to actively enhance its ecosystem of partners through alliances, joint ventures, acquisitions and affiliations. The IRI Partner Ecosystem includes such companies as Adobe, The Boston Consulting Group, comScore, Experian, GfK, Gigwalk, GuestMetrics, Ipsos, Kantar Shopcom, MasterCard Advisors, MaxPoint, Millward Brown Digital, Mu Sigma, Oracle, SPINS, Univision and others.
IRI is a leading provider of big data, predictive analytics and forward-looking insights that help CPG, OTC health care organizations, retailers and media companies to grow their businesses. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand, cloud-based technology platform, IRI helps to guide its more than 5,000 clients around the world in their quests to remain relentlessly relevant, capture market share, connect with consumers and deliver market-leading growth. A confluence of major external events — a revolution in consumer buying, big data coming into its own, advanced analytics and automated consumer activation — is leading to a seismic shift in drivers of success in all industries. Ensure your business can leverage data at www.iriworldwide.com.
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