Expanded Partnership with IRI Enables Advanced Optimization and Targeting Capabilities
Viant, a Meredith Corporation people-based advertising technology company, announced the launch of an enhanced suite of capabilities for CPG marketers through its expanded partnership with IRI, a global leader in innovative solutions and services for consumer, retail and media companies. Viant’s new Sales Tactic Optimization solution provides advertisers with weekly insights throughout the campaign, identifying the segments with the most sales activity – enabling marketers to optimize campaigns in-flight. In addition, Viant has launched Purchase Cycle Targeting so CPG marketers can hone in on the unique purchase cycles of their various products and deliver messaging at the likely points of repurchase, improving performance and reducing waste.
Through an innovative partnership with IRI, Viant’s Sales Tactic Optimization provides clients with a data feed on both store visits and in-store sales, so CPG marketers can leverage purchase data to optimize during the flight of the campaign — as opposed to simply looking back post-campaign.
Purchase Cycle Targeting takes into account the differences in repurchase cycles from fast-moving consumer goods like cereal and beverages to longer lead cycles like laundry detergent and pet food. As Viant’s recent CPG study “The Persuadables” proved, product repurchase can increase by over 26x when messaging is timed in the week prior to a typical repurchase cycle rather than earlier in the cycle. Both Sales Tactic Optimization and Purchase Cycle Targeting are major improvements for CPG marketers looking to maximize the return on their media investment.
“With our Sales Tactic Optimization and Purchase Cycle Targeting solutions powered by IRI data, Viant is creating a deeper integration for CPG marketers looking to improve their targeting and measurement capabilities during the flight of a campaign,” says Jon Schulz, CMO at Viant. “Our unique ability to define the purchase cycle with deterministic data and understand which audience segments and channels are driving higher return enables marketers to maximize offline sales by targeting the right message on the right device at the optimal time and shift campaign spend accordingly.”
In addition, Viant is the first partner to offer BevMo! segments in a programmatic environment. As the leading specialty beverage retailer, BevMo! has more than 160 neighborhood stores located throughout California, Arizona and Washington. CPG marketers are now able to advertise directly to those consumers and drive sales with targeted marketing campaigns based on recent purchase history.
“IRI has been a leader and innovator in consumer insights for a number of years,” says Nishat Mehta, president of media at IRI. “Our deep understanding of consumer purchase behavior is a perfect complement to Viant’s innovative Sales Tactic Optimization and Purchase Cycle Targeting solutions to deliver improved relevance for consumers and we are excited to be expanding our partnership.”
Viant’s Sales Tactic Optimization and Purchase Cycle Targeting solutions are currently available for CPG marketers as well as marketers in retail, over the counter pharmaceuticals, grocery, drugs and convenience.